The iconic WB water tower is seen from outside Gate 4 at Warner Bros. Studios, Burbank in Burbank, California on October 22, 2025. ROBYN BECK / AFP
Streaming giant Netflix said Friday, December 5, it will buy film and television studio Warner Bros. Discovery for nearly $83 billion, the entertainment industry's biggest consolidation deal this decade.
The acquisition, which will face regulatory scrutiny by the Trump administration and is opposed by top names in Hollywood, gives Netflix access to a vast film catalog as well as the prestigious streaming service HBO Max.
Over the decades, Warner Brothers has produced film classics including Casablanca and Citizen Kane, as well as more recent blockbuster shows including The Sopranos, Game of Thrones and the Harry Potter movies.
"Together, we can give audiences more of what they love and help define the next century of storytelling," said Ted Sarandos, co-CEO of Netflix, which has produced global hits including "Stranger Things," "KPop Demon Hunters" and "Squid Games."
