On December 5, 2025, at precisely 13:28:51.746 UTC, a major disclosure reverberated throughout the global entertainment industry. Business Insider revealed, under exclusive subscriber access, that Netflix had formally agreed to acquire Warner Bros. in an immense $72 billion transaction — a purchase that immediately reshaped expectations across Hollywood. The news quickly circulated through social channels, igniting intense discussion on Facebook, X, LinkedIn, Reddit, Bluesky, and WhatsApp, as professionals shared and analyzed what many now call one of the most consequential media mergers in recent memory.
The deal, officially unveiled on a Friday morning, represents a truly groundbreaking moment in corporate entertainment history. Netflix’s acquisition of Warner Bros. Discovery’s storied film studio and its acclaimed streaming business, HBO Max, constitutes not simply a purchase but a transformative alignment of two of the industry’s most recognizable creative forces. The combined scale and reach evoke comparisons to Disney’s monumental 2019 absorption of 21st Century Fox for $71 billion, which itself shook the foundations of Hollywood’s power structure. However, Netflix’s bid surpasses it in symbolic value, marking the streaming giant’s greatest leap into content ownership and global market dominance.
It is crucial to note that Netflix’s acquisition excludes certain Warner Bros. Discovery (WBD) television properties such as CNN, TNT, and TBS, which will remain separate. According to the announcement, WBD will spin off these cable network assets into an independent entity, in alignment with previously conceived corporate restructuring plans. This decision effectively divides WBD into two distinct enterprises: one absorbed into Netflix’s ecosystem, and another, named Discovery Global, continuing independently under its own leadership. Gunnar Wiedenfels has been designated as the future CEO of this standalone company, with the formal separation targeted for completion during the third quarter of 2026.
The acquisition remains subject to extensive regulatory review, both within the United States and abroad, a process that experts anticipate may be intricate given mounting scrutiny of large-scale media consolidations. Should all necessary approvals be obtained on schedule, the transaction is projected to close within 12 to 18 months. In the meantime, both organizations must continue operating as separate, independent entities in full compliance with legal and antitrust mandates.
In an internal memorandum distributed company-wide, Warner Bros. Discovery CEO David Zaslav communicated the key details of this agreement and sought to contextualize it as a necessary and forward-looking response to sweeping changes that have redefined the media landscape. He emphasized that this strategic evolution acknowledges the profound transformation in how stories are conceived, funded, produced, and brought to audiences. According to Zaslav, the deal reflects the board’s conviction that combining Warner Bros. with Netflix, while concurrently establishing Discovery Global as a focused standalone venture, offers the strongest possible foundation for creative expansion, financial resilience, and long-term market relevance.
Zaslav’s message, while factual, also recognized the emotional and human dimension of such corporate upheaval. He addressed the inevitable uncertainties and mixed reactions among staff — some finding renewed clarity in the company’s future trajectory, others understandably experiencing anxiety regarding the implications for their teams and career paths. The memo underscored that many answers would emerge gradually, influenced by regulatory proceedings and subsequent operational milestones. To ensure orderly coordination between the two companies, WBD will establish an Integration Office to serve as the central hub for managing all planning and correspondence with Netflix. Employees were strongly cautioned not to initiate direct contact with Netflix counterparts, a measure designed to preserve legal integrity and compliance with international governance standards.
Further operational clarity will unfold through a series of internal communications. WBD scheduled a Global Town Hall later that same day to review the known aspects of the transaction and outline the forthcoming areas of uncertainty. Following that, business unit leaders will host meetings specific to their functional areas, creating space for personalized discussion and feedback. Early the next week, managers from across divisions will reconvene with executive leaders to receive the necessary context and tools to guide their teams through the early stages of transition.
As 2025 draws to a close, Zaslav encouraged all staff to remain focused on meeting year-end commitments and to take advantage of the upcoming holiday period for rest and renewal. He assured them that the company intends to maintain open communication channels through its internal platforms, One Insider and the One website, where updates will be posted regularly as decisions progress and regulatory clarity increases.
Zaslav concluded his memo with a reflective yet optimistic tone, acknowledging the profound contributions of WBD employees who have weathered extraordinary organizational changes since the 2022 merger of AT&T’s WarnerMedia with Discovery. He commended their dedication, creativity, and resilience, emphasizing that these qualities have constructed a business of substantial cultural and commercial influence — one that even competitors have come to respect. While the exact contours of the transition remain undisclosed, the CEO expressed firm confidence in the enduring strength of Warner Bros.’ brands, in the immense creative talent driving both organizations, and in the compelling storytelling that continues to captivate global audiences. In his closing words, he characterized this moment not simply as an ending, but as the beginning of a transformative new chapter — one defined by greater strategic clarity, potential, and creative opportunity for all parties involved.
Sourse: https://www.businessinsider.com/netflix-wbd-warner-bros-discovery-read-memo-bidding-war-hollywood-2025-12
