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It\u2019s official: fifteen days after three major entertainment companies submitted their bids<\/a> to acquire Warner Bros. Discover, Netflix has emerged victorious over Paramount and Comcast. The streamer and the studio announced Friday that they\u2019ve entered into a definitive agreement for Netflix to purchase Warner Bros.\u2014including its very valuable film and television studios, HBO Max and HBO.<\/p>\n According to a press release, \u201cthe cash and stock transaction is valued at $27.75 per WBD share (subject to a collar as detailed below), with a total enterprise value of approximately $82.7 billion (equity value of $72.0 billion).\u201d<\/p>\n \u201cOur mission has always been to entertain the world,\u201d Ted Sarandos<\/strong>, co-CEO of Netflix, said in a statement. \u201cBy combining Warner Bros.\u2019 incredible library of shows and movies\u2014from timeless classics like Casablanca<\/em> and Citizen Kane<\/em> to modern favorites like Harry Potter<\/em> and Friends<\/em>\u2014with our culture-defining titles like Stranger Things<\/em>, KPop Demon Hunters<\/em> and Squid Game<\/em>, we’ll be able to do that even better. Together, we can give audiences more of what they love and help define the next century of storytelling.\u201d<\/p>\n \u201cToday\u2019s announcement combines two of the greatest storytelling companies in the world to bring to even more people the entertainment they love to watch the most,\u201d added David Zaslav<\/strong>, President and CEO of Warner Bros. Discovery. \u201cFor more than a century, Warner Bros. has thrilled audiences, captured the world\u2019s attention, and shaped our culture. By coming together with Netflix, we will ensure people everywhere will continue to enjoy the world\u2019s most resonant stories for generations to come.\u201d<\/p>\n The acquisition does not include WBD\u2019s global networks division, which will be spun off into a separate publicly traded company called Discovery Global comprising brands like CNN and TNT Sports.<\/p>\n It\u2019s not quite a done deal yet, though. Warner Bros. and Netflix will face intense regulatory scrutiny, perhaps especially from President Donald Trump<\/strong>\u2014who has made no secret of his positive feelings toward David Ellison<\/strong>, who hoped to combine Warner Bros. with Paramount, the studio Ellison officially acquired this summer<\/a>.<\/p>\n<\/div>\n