Netflix Accelerates: The Race to Own Warner Bros

Netflix is accelerating its timeline, racing to own Warner Bros before a competitor can steal the prize. The streaming giant is switching to an all-cash offer to finalize its $83 billion acquisition of WBD’s studio and streaming assets. The urgency is driven by a hostile bid from Paramount Skydance that threatens to derail the deal.
Paramount has offered $108.4 billion for WBD, but the bid is debt-heavy and has been rejected by the board. Paramount is now trying to replace the board to force a sale. Netflix’s all-cash move is intended to close the deal quickly, locking out Paramount before their boardroom tactics can work.
The acquisition includes the Warner Bros film library and HBO, home to Harry Potter and Succession. WBD’s linear networks, such as CNN and Discovery, are not included. This targeted approach ensures that Netflix acquires the most valuable content assets.
The speed of the deal has not escaped the notice of regulators. Politicians warn that a Netflix-WBD merger would create a streaming monopoly, controlling nearly 50% of the market. This regulatory scrutiny could slow down the race, despite Netflix’s efforts.
The market is cheering on the sprint. WBD shares rose 1.6% on the news, indicating that investors want the deal done. For Netflix, winning the race means securing its position as the undisputed leader of the streaming world.