- Netflix is attempting to acquire Warner Bros Discovery’s studios and streaming unit.
- The proposed acquisition could see Netflix and HBO Max bundled together.
- If the bid is successful, it would reportedly lower the combined cost for consumers.
Update: December 5, 2025 (10:43 AM ET): Netflix has announced that it has entered into a definitive agreement with Warner Bros Discovery to acquire WBD’s film and television studios, HBO Max, and HBO. This means that shows and movies, including the DC Universe, The Big Bang Theory, The Sopranos, Game of Thrones, The Wizard of Oz, and more, will now be under the Netflix umbrella once the transaction is closed.
In the announcement, Netflix states that it “expects to maintain Warner Bros.’ current operations and build on its strengths, including theatrical releases for films.” The company also says, “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.” Netflix did not share how this development will affect its streaming prices.