In a press release, Netflix announced: “Today we are excited to announce the signing of a definitive agreement to acquire Warner Bros. Discovery, including its film and television studios, as well as the HBO Max and HBO services.”
As a result of this deal, Netflix will combine its content with the rich legacy of Warner Bros. Now, the streaming service's catalog will feature popular shows and series such as “The Big Bang Theory,” “The Sopranos,” “Game of Thrones,” and DC Comics projects.
Ted Sarandos, CEO of Netflix, commented: “Our goal is to entertain audiences around the world. By combining our unique library of series and films with the amazing legacy of Warner Bros., including classic films like ‘Casablanca’ and ‘Citizen Kane,’ as well as modern hits like ‘Harry Potter’ and ‘Friends,’ we will be able to reach even greater heights.”
According to Reuters, this acquisition is likely to change the balance of power in Hollywood and strengthen Netflix's position, which previously achieved success without major deals and significant content libraries. However, the deal is likely to be subject to antitrust scrutiny in the U.S. and Europe, as Netflix gains control over HBO Max, which has 130 million subscribers.
