Netflix to Acquire Warner Bros. Discovery’s Studio and Streaming Assets; What Trump Says

In one of the biggest potential shake-ups in entertainment history, Netflix has announced plans to acquire the studio and streaming business of Warner Bros. Discovery for $72 billion. The move, revealed on Friday, marks a major consolidation in an industry already undergoing dramatic transformation.

The deal brings together two of the world’s most influential streaming players. Netflix’s acquisition excludes Warner Bros. Discovery’s cable networks — including CNN and Discovery — which will remain separate after the company completes its previously announced split. That separation is expected by mid-2026, with the acquisition slated to close 12 to 18 months afterwards, pending regulatory approvals.

Warner Bros. Discovery had signalled openness to selling parts of its empire back in October. Now, Netflix plans to absorb a massive catalogue of iconic films and series. In its statement, the streaming giant said the acquisition will bring titles such as “The Big Bang Theory,” “The Sopranos,” “Game of Thrones,” “The Wizard of Oz,” and the entire DC Universe franchise into its library. Classic films including “Casablanca,” “Citizen Kane” and the Harry Potter series will also join Netflix’s offerings once the deal is finalized.

The merger, if approved, could create the largest content vault of any global streaming service, while also reshaping competitive dynamics in an increasingly crowded market.

Trump reacts to the proposed merger

“There’s no question about it,” the American President said, answering questions about the deal and various other topics as he walked the red carpet at the Kennedy Center Honors.

“Netflix is a great company. They’ve done a phenomenal job. Ted is a fantastic man,” Trump said of Netflix CEO Ted Sarandos, noting that they met in the Oval Office last week before the deal was announced Dec. 5. “I have a lot of respect for him but it’s a lot of market share, so we’ll have to see what happens.”

Asked if Netflix should be allowed to buy the Hollywood giant behind “Harry Potter” and HBO Max, the president said, “Well that’s the question.”

“They have a very big market share and when they have Warner Bros., you know, that share goes up a lot so, I don’t know,” he said. “I’ll be involved in that decision, too. But they have a very big market share”

Sarandos made no guarantees at their meeting about the merger if it is approved, Trump said, adding that the CEO is a “great person” who has “done one of the greatest jobs in the history of movies and other things.”

He repeated that a merger would create a “big market share” for the company.

“There’s no question about it. It could be a problem,” Trump said.