Netflix is reportedly pursuing a deal to acquire Warner Bros. Discovery, a move that would give the streaming giant control of one of Hollywood’s most powerful studios.
The potential merger comes on the heels of Paramount’s deal with Skydance and highlights the rapid consolidation of the entertainment industry.
A Netflix–Warner Bros. Discovery combination would bring major theatrical franchises like Harry Potter, DC Comics, and The Lord of the Rings under the same roof as the world’s leading streaming platform.
It would also give Netflix direct access to Warner’s established theatrical distribution network, placing the company at the center of both streaming and traditional cinema.
Industry experts warn that the acquisition would face rigorous antitrust review. Regulators are expected to weigh the impact on competition, licensing practices, and theatrical distribution, given that Netflix already dominates global streaming and Warner Bros. Discovery controls a vast library of film and television content.
For now, the talks underscore the high stakes facing Hollywood as studios, streamers, and theaters navigate a shifting business model where consolidation is increasingly seen as the path to survival.
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