Netflix Welcomes Warner Bros. Discovery Board Recommendation

Warner Bros. Discovery has made their recommendation, and it’s in favor of Netflix. The board of directors at Warner Bros. Discovery recently urged stockholders to give the green light to Netflix’s proposed merger. This recommendation came after a thorough examination alongside independent financial and legal advisors. Netflix’s offer is seen as the best long-term choice for the value of Warner Bros. Discovery stockholders.

On December 5, Netflix and Warner Bros. Discovery reached a finalized agreement where Netflix will acquire Warner Bros., encompassing its film and television studios, HBO Max, and HBO. The deal is valued at $27.75 per Warner Bros. Discovery share, with a total enterprise value of about $82.7 billion. The transaction also includes additional benefits for Warner Bros. Discovery stockholders through the planned separation of Discovery Global, expected to happen in Q3 2026.

Ted Sarandos, co-CEO of Netflix, stated, “The Warner Bros. Discovery Board has made it clear that Netflix’s merger proposal is superior and is in the best interest of stockholders.” He believes that the collaboration between Netflix and Warner Bros. Discovery will bring out the best for consumers, creators, shareholders, and the entertainment industry as a whole. This merger will leverage Netflix’s strengths with Warner Bros.’ theatrical film division, top-tier television studio, and the iconic HBO brand.

Greg Peters, Netflix co-CEO, mentioned, “Acquiring Warner Bros. will provide a wider array of choices, value, and opportunities for audiences and creators globally.” This deal is seen as beneficial for consumers, innovation, creators, and growth. The blend of the two entertainment giants is expected to produce an extensive selection of outstanding series and movies for viewers to enjoy at home and in theaters, creating long-term value for stockholders.