Netflix announced Friday it’s reached a deal to buy pieces of Warner Bros. Discovery,
bringing a swift end to a dramatic bidding process that saw Paramount Skydance
and Comcast also vying for the legacy assets.
The transaction is comprised of cash and stock and is valued at $27.75 per WBD share, the companies said. That puts the equity value of the deal at $72 billion, with a total enterprise value of approximately $82.7 billion.
Netflix will acquire Warner Bros.’s film studio and streaming service, HBO Max. Warner Bros. Discovery will move forward with its previously planned spin out of Discovery Global, which includes its massive portfolio of pay TV networks, such as TNT and CNN.
