Netflix /
WBD
Netflix to acquire Warner Bros. Discovery’s retained businesses
Source for the buyer and target: NETFLIX, INC.
For the buyer and target.
“The Boards of Directors of Netflix and WBD have unanimously approved the Merger Agreement, including the Merger and the other transactions contemplated thereby.”
Published 5 Dec 2025
Open the sourceWhat happened
Netflix, Inc. and WBD entered into a merger agreement on Dec. 4, 2025. Under the agreement, WBD’s Streaming & Studios businesses will remain with WBD, which will become a wholly owned subsidiary of Netflix after the merger. [01]
Before the merger, WBD will separate and distribute its Global Linear Networks business and certain other assets to SpinCo. [01]
The source
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Netflix to acquire Warner Bros. Discovery’s retained businesses
This document is the source for the companies, stage and people on this page.
Open the sourceTimeline
Every date the source states, in order, each with the words it comes from. Anything marked ahead is a target the source gives, not something that has happened.
Also stated
“Discovery’s retained businesses Netflix, Inc. and WBD entered into a merger agreement on Dec. 4, 2025”
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