This buyout, if approved, gives Netflix unmatched breadth of characters and franchises, merging prestige drama (HBO), animation (Cartoon Network), superhero giants (DC), and blockbuster properties (Harry Potter) under one owner.

Batman, one of the world’s most profitable superhero characters, comes under Netflix ownership through Warner Bros’ DC division. This includes decades of film, animation and TV catalogue tied to the character.

The Superman franchise, including live-action films, animated films, series and associated IP, transfers with the DC library. This gives Netflix control over one of pop culture’s oldest and most globally recognised heroes.

Another major DC character, Wonder Woman’s cinematic and television rights are part of the Warner Bros catalogue. Netflix would now hold the character’s long-term rights for future adaptations.

Through ownership of Warner Bros Pictures, Netflix would acquire rights to the Harry Potter and Fantastic Beasts film franchises, among the most valuable fantasy properties in modern cinema.

Ben 10, a top global animation property from Cartoon Network Studios, becomes part of Netflix’s animation catalogue. This includes TV series, films, toy lines and licensing rights.

Bugs Bunny, Daffy Duck, Tweety, Sylvester, Road Runner and the larger Looney Tunes stable move into Netflix’s control, an enormous shift in legacy animation IP ownership.

Adult Swim’s cult-favourite Rick and Morty becomes a Netflix-owned property through the takeover of Warner Bros’ animation and adult-programme units.

The long-running mystery franchise, including TV series, animated films and live-action films, is included with Warner Bros’ children’s entertainment catalogues.

Through New Line Cinema, Netflix gains the entire Conjuring horror universe, one of the most successful horror franchises of the last decade.

While gaming rights remain separate, Netflix would gain film and television rights connected to the Mortal Kombat universe, strengthening its action-fantasy and gaming-linked IP portfolio.

This buyout, if approved, gives Netflix unmatched breadth of characters and franchises, merging prestige drama (HBO), animation (Cartoon Network), superhero giants (DC), and blockbuster properties (Harry Potter) under one owner. Analysts say it could mark the biggest power shift in Hollywood in more than a decade.