The world-renowned streaming platform Netflix dropped a bombshell on June 5, U.S. time, by announcing an agreement with international film giant Warner Bros to acquire the company for $72 billion (about RM295.8 billion). The deal includes Warner Bros' film studio, HBO, and its streaming platform HBO Max, officially ending Hollywood's era of fierce competition. This means Netflix will leap to the top as the global media and film leader, becoming the so-called 'evil empire' of the entertainment world.
According to comprehensive foreign media reports, Netflix beat out several competitors—such as Paramount and Comcast—in the fiercely contested bid for Warner Bros. Netflix CEO Ted Sarandos also confirmed that this acquisition will merge Netflix’s innovation with Warner Bros’ century-old legacy, bringing an unprecedented entertainment experience to audiences worldwide.
David Zaslav, CEO of Warner Bros Discovery, stated that over the past century, Warner Bros has continuously captivated audiences around the globe with its storytelling. Now, by joining forces with Netflix, they will bring even more compelling and resonant stories to viewers.
Concerns of a Global Media Monopoly
It is understood that Warner Bros holds a vast library of classic film IPs, including 'Harry Potter,' 'Batman,' 'Friends,' 'Game of Thrones,' and the DC superhero universe among others, making it the largest, most historic, and highest earning Hollywood studio—all set to be included under Netflix's banner.
The two parties have reached an agreement, and if the transaction is completed, these legendary classic titles will likely appear on Netflix's platform in the future. However, Netflix’s acquisition of Warner Bros has already sparked concerns from the public, who fear the global media market may now become monopolized. In response, Netflix issued an official statement emphasizing that the company will maintain Warner Bros’ existing operations as planned, further strengthen them, and continue releasing theatrical films.
Source: China Times