Consolidation of the mainstream media industry continues with news that Netflix is to buy Warner Bros. Discovery for $72 billion.
Netflix has prevailed in a bidding war with Paramount and Comcast, offering a $5.8 billion breakup fee to secure exclusive negotiations. Warner Bros. Discovery owns franchises such as Batman, Harry Potter and Game of Thrones, as well as the streaming services HBO Max and Discovery+.
AOL infamously bought Warner Bros. before the dot-com bubble burst in the early noughties. This is a statement of intent from the streamer, but it will likely result in HBO Max being shuttered, subscription fees increasing, and less competition.
HBO Max is due to launch in March 2026 in the UK. A longstanding exclusivity deal between Warner Bros. Discovery and Sky (owned by Comcast) ends this year. Sky and NOW customers (myself included) will get HBO Max’s ad-supported tier bundled in at no extra cost when HBO Max launches.
However, will we see future seasons of House of the Dragon and The Last of Us only on Netflix? For decades, Sky has relied on imported shows to drive subscriptions, but is now looking to buy ITV.
What are your thoughts on Netflix acquiring Warner Bros. Discovery? Is it good for consumers and creatives alike in an era dominated by artificial intelligence (AI)? Let me know in the comments below.
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