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Netflix will buy some of Warner Bros. Discovery’s most valuable media portfolio for nearly $83 billion in a cash-stock deal, the two companies said Friday, setting up one of the largest media mergers this decade.

The streaming giant will acquire some of Warner Bros. Discovery’s film and TV studio, as well as HBO and the streaming service HBO Max. Warner Bros.’s cable networks, including the news giant CNN, are to be spun off in advance of the merger. That plan was announced in June. Caption from reporting by Scott Nover and Samantha Chery.

https://www.washingtonpost.com/technology/2025/12/05/warner-bros-discovery-netflix-deal/

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