Netflix Enters Agreement To Buy Warner Bros. For $82 Billion, Includes Game Studios

Mortal Kombat, Batman: Arkham, and more are affected.

In a staggering piece of news this Friday, streaming giant Netflix has announced that it has entered an agreement with Warner Bros. Discovery to acquire Warner Bros. in a deal that's valued at roughly $82.7 billion — an equity value of $72 billion.

Netflix is specifically acquiring Warner Bros.' Streaming & Studios company, which it created in June 2025 and includes including Game of Thrones, the DC Universe, Harry Potter, Lord of the Rings, and platforms such as HBO and HBO Max and Warner Bros. Games.

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