Netflix to acquire Warner Bros. Discovery. gives it control of a century-old Hollywood studio, legendary franchises, and the powerful HBO content library. From Harry Potter to DC, this deal could reshape global streaming as Netflix gains full production power.

Warner Bros. was founded in 1923 by the four Warner brothers, establishing one of Hollywood's oldest studios. Netflix's $82.7 billion offer represents control of a century-old entertainment empire with unmatched historical significance.

The legendary Burbank lot spans 62 acres, built in 1926 and expanded by Warner Bros. in 1928. It remains one of the world's most historically significant filmmaking facilities housing multiple sound stages and post-production infrastructure.

HBO Max reaches 128 million global subscribers across more than 100 markets as of late 2025. The platform generated $7.7 billion in combined HBO and HBO Max revenue in 2023.

Friends generates approximately $1 billion annually in syndication fees. Upon acquisition Netflix to gains complete ownership of television's most profitable franchise.

The Big Bang Theory averages nine million viewers per episode in syndication, making it the highest-rated sitcom. Cast members earned up to $1 million per episode during production.

The Harry Potter films generated $7.7 billion in box-office revenue across eight films. Netflix gains intellectual property control including upcoming television series launching 2027.

Warner Bros.' library includes The Wizard of Oz, Casablanca, The Maltese Falcon, and Gone with the Wind. These films continue generating substantial revenue through theatrical re-releases and licensing.

Warner Bros. produced legendary Emmy-winners including The Sopranos, The Wire, Succession, and Deadwood. Netflix gains production facilities and creative talent relationships through this acquisition.

Netflix's acquisition includes complete production infrastructure spanning sound stages, editing facilities, and post-production capabilities. This grants Netflix unprecedented vertical integration for in-house content creation.

Netflix plans cross-franchise integration combining DC, Harry Potter, and other properties within shared universes. Expected completion occurs late 2026 or early 2027 following regulatory approval.