Netflix to maintain theatrical releases in $82.7B Warner Bros. deal

Entertainment Dec 15, 2025

Netflix is set to buy Warner Bros. Discovery's studios—including HBO, DC Studios, and big media libraries—for a massive $82.7 billion.
The deal should close after WBD finishes splitting off its Global Networks division in Q3 2026.
Netflix's co-CEOs say Warner Bros. movies will still hit theaters and promise there won't be any overlap or studio closures.

Why does it matter?

This move could shake up what you watch—and how much you pay for it.
Writers and some US senators are worried the merger might hurt competition or raise streaming prices (especially after Netflix's recent price hikes).
Meanwhile, Paramount Skydance has put in rival bids, so the WBD board is weighing all options right now.