All the major Warner Bros. properties set to go to Netflix in watershed deal

After a heated bidding war, Netflix on Friday morning announced it will acquire Warner Bros.in a $72-billion deal poised to overhaul the entertainment industry.The high-profile deal, which totals $82.7 billion with Warner Bros.’ debt included, represents an unprecedented consolidation — giving Netflix control of iconic franchises such as “Harry Potter” and the DC Universe, plus classics from “Casablanca” to “Citizen Kane.” With its acquisition, Netflix beat out competitors Paramount and Comcast to vastly expand its content library and bring its subscriber base to above 420 million.Not included in the acquisition are Warner Bros.’ cable channels, including CNN, TNT and HGTV, which will be part of a new publicly traded company, Discovery Global, in mid-2026.

Hollywood Inc.A theater owner trade group immediately blasted Netflix’s nearly $83-billion deal to buy Warner Bros.

and HBO.Netflix has long bypassed movie theaters, instead releasing films onto its streaming platform.

While Netflix thus far has insisted it will maintain Warner Bros.operations, including theatrical releases for the studio’s films, theater owners and guild leaders have expressed concerns that the deal will further threaten the exhibition industry and allow streaming to continue to dominate the entertainment landscape.“The negative impact of this acquisition will impact theatres from the biggest circuits to one-screen independents in small towns in the United States and around the world,” Cinema United President Michael O’Leary said in a statement to The Times.

“Netflix’s stated business model does not support theatrical exhibition.”The Directors Guild of America agreed that the deal “raises significant concerns” and said it plans to share its concerns with Netflix and get a better sense of the streamer’s long game.Plus, viewers themselves are already voicing apprehension about the fates of their favorite shows under Netflix’s ownership.Here is a list o...