Is Netflix Set to Acquire Warner Bros? Pending US Approval
Synopsis
Key Takeaways
- Netflix plans to acquire Warner Bros Discovery for $82.7 billion.
- The merger requires approval from US regulators.
- WBD has a legacy of storytelling and iconic films.
- This deal expands Netflix's content library significantly.
- Netflix continues to grow its subscriber base in India.
New York, Dec 6 (NationPress) Netflix has declared its intention to purchase Warner Brothers Discovery (WBD) in a transaction valued at approximately $82.7 billion, aiming to forge a media giant that merges streaming with movie and entertainment production. However, this merger requires the endorsement of US government anti-trust regulators due to the significant scale and influence of both companies within the entertainment sector.
“This acquisition unites two trailblazing entertainment entities, merging Netflix’s cutting-edge innovation, global outreach, and premier streaming service with Warner Bros’ storied legacy of exceptional storytelling,” stated Netflix on Friday while unveiling the acquisition plan.
WBD CEO David Zaslav remarked, “By collaborating with Netflix, we will guarantee that audiences everywhere can continue to revel in the world’s most impactful narratives for generations to come.”
Both media giants maintain a presence in India.
Netflix indicated that the deal will finalize after WBD divests its cable subsidiaries such as the news network CNN, TNT, and Discovery.
Netflix outmaneuvered Comcast and Paramount, who had also shown interest in WBD, clinching the deal with a bid of $27.75 per share.
In India, Netflix boasts around 12.4 million subscribers, establishing it as its seventh-largest market according to the World Population Review.
WBD's films have been a consistent fixture in the Indian cinematic landscape.
The company has ventured into Bollywood, distributing movies such as Saas Bahu Sensex, and announced in June a collaboration with Bhanushali Studios Limited (BSL) and JOAT Films on a five-film deal to adapt its movies for Indian audiences.
With this acquisition, Netflix will gain access to WBD’s extensive, century-old collection, which includes classic films like Casablanca, The Maltese Falcon, Bonnie and Clyde, and Chariots of Fire, among others, including The Wizard of Oz acquired from MGM.
WBD will also integrate HBO Max and DC Studios into Netflix’s offerings.
Netflix began its journey as a DVD rental service utilizing postal deliveries before evolving into a leading streaming platform that capitalized on digital advancements.
The service has also ventured into film production in multiple languages.
Among its distributed films is Dhoom Dhaam.