Netflix shares inched down 0.26% to $102.95 on Friday after the streaming giant confirmed the final offer for a landmark agreement to acquire major assets from Warner Bros Discovery (WBD), a move aimed at significantly expanding its content portfolio.
Additionally, the share price of DR-linked for Netflix in the Thai stock market, including NFLX06 from KKPS and NFLX80 from KTX also edged lower on Friday.
Under the deal, Netflix will pay $27.75 per WBD share, valuing the transaction at roughly $72 billion. The agreement covers WBD’s film and television studios and grants Netflix rights to some of the entertainment industry’s most valuable franchises, including Harry Potter and Game of Thrones. Based on the implied share price, the assets carry a total valuation of approximately $82.7 billion.
The acquisition follows a competitive bidding process in which Netflix outmaneuvered other high-profile contenders, including Paramount–Skydance and Comcast, the parent company of Sky News. The package under negotiation also encompassed WBD operations such as HBO, the HBO Max streaming platform, and DC Studios.
As part of the restructuring, WBD’s remaining businesses—primarily the Discovery Global portfolio of legacy cable networks such as CNN and the TNT sports channels—will be separated before the assets formally transition to Netflix ownership.
The scale of the transaction is expected to draw close attention from regulators in both the United States and Europe, particularly given the growing scrutiny surrounding media consolidation and the competitive dynamics of the streaming industry.
Both companies anticipate a lengthy approval process, with completion of the deal unlikely before late 2026 or 2027.
