Today, Netflix announced our acquisition of Warner Bros. Together, we’ll define the next century of storytelling, creating an extraordinary entertainment offering for audiences everywhere. https://t.co/rXPFMNIs1A pic.twitter.com/0pdsMUEob8 — Netflix (@netflix) December 5, 2025 Netflix and Warner Bros. announced that the streaming giant will will acquire Warner Bros., including its film and television studios, HBO, and HBO Max. The cash and stock transaction is valued at a total enterprise value of approximately $82.7 billion (equity value of…