Netflix’s Big Plan to Buy Warner Bros: What It Could Mean for Everyone
In early December 2025, Netflix announced a huge deal to buy the studios and streaming division of Warner Bros. Discovery, the company behind HBO, DC Studios, and many major movies and shows. Reports say the deal is worth around $72–82.7 billion, mixing cash and Netflix stock, and would give Netflix control of Warner Bros. film and TV studios, HBO/HBO Max, DC Entertainment, TNT Sports, and Warner Bros. Games.
The deal is not finished yet. It still needs approval from regulators in the US, Europe, and other countries, and is expected to take 12–18 months to close if everything goes smoothly. At the same time, Paramount Skydance has launched a hostile bid to buy all of Warner Bros. Discovery, which could complicate or even block Netflix’s plan.
Why Netflix Wants Warner Bros in the First Place
From Netflix’s point of view, this deal is about becoming even bigger and stronger in the streaming war. By buying Warner Bros, Netflix would gain a huge library of famous content, including DC superhero movies, the Harry Potter universe, classic Warner films, HBO series like Game of Thrones and The Last of Us, and more live sports through TNT Sports.
Some Wall Street analysts say Netflix would be “killing three birds with one stone”: gaining high-quality content, strengthening its streaming position, and cutting down on a major rival (HBO Max). The deal also includes Warner Bros. Games, which would instantly make Netflix a serious player in gaming, with studios like Rocksteady and NetherRealm and franchises like Mortal Kombat and Hogwarts Legacy.
Fears About Too Much Power and Possible Monopoly
Not everyone is happy about this giant merger. In the United States, President Donald Trump has publicly said the Netflix–Warner deal “could be a problem,” mainly because of how large the combined company would be in streaming and entertainment. He has signaled that the Department of Justice will take a hard look at the deal’s impact on competition and consumer choice.
Regulators and experts worry that if Netflix controls both its own huge platform and Warner Bros’ studios and HBO Max library, it might become too dominant, making it harder for smaller services and independent creators to survive. Some legal analysts say there is a “legitimate argument” that this could edge toward a streaming monopoly, especially in premium scripted content. Other countries’ regulators in Europe and Asia are also expected to investigate the deal closely before they approve it.
How Hollywood Creators and Movie Theaters See the Deal
Many people in Hollywood, especially theater owners and directors, are worried about what this means for movies on the big screen. A major op-ed in The Guardian argued that Netflix buying Warner Bros is “bad news for cinema,” because Netflix has often preferred releasing films straight to streaming or giving them only short, limited theatrical runs.
Trade groups for theaters say the merger could reduce the number of movies that get full theatrical releases, which would hurt box office revenue and put more pressure on independent and smaller cinemas. Some directors’ organizations have also expressed concern that having fewer big studio owners means fewer places to pitch projects, which could reduce creative variety and bargaining power for writers, actors, and filmmakers.
What Investors and Wall Street Think About the Deal
You might think investors would love a giant deal that makes Netflix even bigger. But reactions from Wall Street have actually been mixed. After the announcement, Netflix’s stock price dropped, and some analysts downgraded the stock, saying the deal was very expensive and risky.
Some investors fear that Warner Bros’ streaming business has been struggling, and taking on that challenge plus a huge debt load might weigh Netflix down. Others, however, see long-term benefits: a stronger global brand, more content to keep subscribers, and more leverage in negotiations with advertisers and devices. Opinion pieces in business outlets like Forbes say the deal could “reset the power map” in streaming, making Netflix the clear number one if it works.
Employees, Fans, and Gamers: Mixed Feelings on the Ground
Inside Warner Bros. Discovery, reactions are complicated. Some CNN staff reportedly felt relieved that Netflix, not Paramount, became the main bidder for the studios and streaming division, because they worried a different buyer might cut more jobs or shake up news operations even more. At the same time, workers across Warner brands are nervous about layoffs, restructuring, and culture change that often come with big mergers.
Fans are also split. Some Netflix subscribers are excited about getting HBO, DC, and Warner Bros movies in one place. Others worry that prices will go up or that some shows and films might disappear as licensing deals change. Gamers are watching closely too, since the deal would fold Warner Bros. Games into Netflix and could reshape how big franchises like Mortal Kombat or the Lego games are released and monetized.
What Happens Next?
For now, the Netflix–Warner Bros deal is still pending. It has to clear antitrust and competition reviews in many countries, and regulators could ask for conditions or even try to block it. On top of that, Paramount Skydance’s hostile $108 billion offer for all of Warner Bros. Discovery gives shareholders another option and adds more drama to the situation.
No matter how it ends, this story shows how fast the entertainment world is changing. Streaming platforms, movie studios, tech companies, and game publishers are all merging and competing at the same time. For viewers, it could mean more big franchises on fewer apps—but also fewer rivals and less choice. Over the next year or two, regulators, investors, and the companies themselves will decide whether this huge bet by Netflix becomes reality or ends up as one of the biggest “what ifs” in media history.
