The bidding war is over, and Netflix has been declared the winner.
After flirting with Paramount Skydance and Comcast, Warner Bros. Discovery (WBD) has decided to sell its streaming and movie studios business to Netflix. If approved, the deal is set to overturn the media landscape and create ripples that will affect Hollywood for years.
$72 billion acquisition
Netflix will pay an equity value of $72 billion, or an approximate total enterprise value of $82.7 billion, for Warner Bros. All of WBD has a $60 billion market value, NBC News notes.
This is an interesting development in the streaming landscape! Netflix’s acquisition could definitely reshape how we experience movies and the role of theaters. It will be fascinating to see how this plays out in the coming months.