Netflix Gets Good News With Major Warner Bros Announcement

Earlier this month, Netflix announced its planned acquisition of Warner Bros for nearly $83 billion - a move that sent shockwaves through the entertainment industry.

“Our mission has always been to entertain the world,” Ted Sarandos, co-CEO of Netflix, said in a statement at the time. “By combining Warner Bros.’ incredible library of shows and movies—from timeless classics like Casablanca and Citizen Kane to modern favorites like Harry Potter and Friends—with our culture-defining titles like Stranger Things, KPop Demon Hunters and Squid Game, 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.” 

Netflix Gets Good News After Warner Bros. Decision

After Netflix's deal was revealed, Paramount mounted a "hostile" takeover bid, offering even more than Netflix's original offer in an attempt to steal the deal. However, after weeks of back-and-forth, Warner Bros is urging its shareholders to reject the offer from Paramount in favor of Netflix.

Today Warner Bros announced that its Board of Directors "has unanimously determined that the tender offer launched by Paramount Skydance on December 8, 2025 is not in the best interests of WBD and its shareholders and does not meet the criteria of a 'Superior Proposal' under the terms of WBD's merger agreement with Netflix announced on December 5, 2025."

Warner Bros. Discovery Board Calls out Ellison Family

In a letter to investors - and the public - Warner Bros publicly called out the Ellison family, suggesting they "misled" Warner Bros. Discovery shareholders.

"PSKY's most recent proposal includes a $40.65 billion equity commitment, for which there is no Ellison family commitment of any kind. Instead, they propose that you rely on an unknown and opaque revocable trust for the certainty of this crucial deal funding," a statement from the company read. "Despite having been told repeatedly by WBD how important a full and unconditional financing commitment from the Ellison family was – and despite their own ample resources, as well as multiple assurances by PSKY during our strategic review process that such a commitment was forthcoming – the Ellison family has chosen not to backstop the PSKY offer."

If Netflix's Bid is Accept, What Happens Now?

With the decision paving the way for Netflix's deal to be accepted, the streaming platform made it clear nothing is changing just yet.

“Nothing is changing today. Both streaming services will continue to operate separately. We have more steps to complete before the deal is closed, including regulatory and shareholder approvals,” the company said in the statement. “You’ll hear from us when we have more to share. In the meantime, we hope you’ll continue to enjoy watching as much as you want, whenever you want – all on your current membership plan.”

It could take 12-15 months for the deal to fully close - and is still subject to a review from the oversight committee.

Related: Netflix Quietly Cancels New Show 3 Months After Debut