Netflix has confirmed it placed the winning bid to buy Warner Bros. Pictures, taking control of one of Hollywood’s most historic studios. The company released a statement promising that the deal will “give audiences more of what they love and help define the next century of storytelling.” In other words, the streaming giant says the move is all about delivering more “content.” What audiences think about that is another story.
Ted Sarandos, Netflix co-CEO, called the merger a natural step. “Our mission has always been to entertain the world. By combining Warner Bros.’ incredible library of shows and movies—from timeless classics like Casablanca and Citizen Kane to modern favorites like Harry Potter and Friends—with our culture-defining titles like Stranger Things, KPop Demon Hunters and Squid Game, we’ll be able to do that even better. Together, we can give audiences more of what they love and help define the next century of storytelling,” Sarandos said.
His fellow co-CEO Greg Peters added, “This acquisition will improve our offering and accelerate our business for decades to come. Warner Bros. has helped define entertainment for more than a century and continues to do so with phenomenal creative executives and production capabilities. With our global reach and proven business model, we can introduce a broader audience to the worlds they create—giving our members more options, attracting more fans to our best-in-class streaming service, strengthening the entire entertainment industry and creating more value for shareholders.”
Fans might have trouble swallowing the idea of Netflix controlling so many beloved classics. The thought of Casablanca sharing shelf space with another round of KPop Demon Hunters could make even the most casual viewer a little uneasy. Still, while people debate what will happen to their favorite movies and shows, new details are shedding light on Netflix’s plans for HBO Max if regulators approve the deal.
Contrary to expectations, Netflix does not plan to fully merge HBO Max into its own service. According to recently released information, “HBO and HBO Max also provide a compelling, complementary offering for consumers. Netflix expects to maintain Warner Bros.’ current operations and build on its strengths, including theatrical releases for films.” Translation: HBO Max lives on for now, but not necessarily forever. The same report admits that HBO and HBO Max programming will slowly make its way onto Netflix over time.
The companies described this as a win for subscribers. “By adding the deep film and TV libraries and HBO and HBO Max programming, Netflix members will have even more high-quality titles from which to choose. This also allows Netflix to optimize its plans for consumers, enhancing viewing options and expanding access to content,” the statement explained.
The proposed deal would close in the third quarter of 2026, once Warner Bros. Discovery completes its plan to split into two separate publicly traded companies—one for “Streaming & Studios” and another for “Global Networks.” Warner Bros. Discovery CEO David Zaslav sounded optimistic in his remarks. “Today’s announcement combines two of the greatest storytelling companies in the world to bring to even more people the entertainment they love to watch the most. For more than a century, Warner Bros. has thrilled audiences, captured the world’s attention, and shaped our culture. By coming together with Netflix, we will ensure people everywhere will continue to enjoy the world’s most resonant stories for generations to come,” Zaslav said.
The Federal Trade Commission will now take a hard look at the deal. Given the size of both companies, the question isn’t whether regulators will be interested, but whether they’ll have a problem with a single streamer holding that much control over Hollywood’s past and future. Stay tuned.
***
English (US) · 