Netflix Seals $82.7 Billion Deal to Acquire Warmer, Citing 'Better Together' as Disastrous Warner Bros Discovery Lays Off Hundreds of Employees.
David Zaslav's plan to merge Discovery Inc with WarnerMedia was hailed as the deal of a lifetime five years ago when he became CEO of Warner Bros Discovery in 2021. Now, Netflix is set to buy out assets of Warner Bros and HBO from the struggling Warner Bros Discovery for $82.7 billion.
Warner Bros Discovery has struggled to deliver on its promise of 'more resources and compelling pathways to larger audiences' to Hollywood operators who saw cost cuts and a continued struggle to revitalize returns at the box office. Shareholders have also watched as the company's stock suffered steep market declines, with executives struggling to strengthen its balance sheet.
The streaming giant Netflix has become a dominant force in the entertainment industry since its humble beginnings licensing old movies and TV series for people to watch on their computers. When Warner Bros Discovery was formed by Zaslav's mega merger between Discovery Inc and WarnerMedia in 2021, the promise of 'better and more valuable together' seemed optimistic.
However, 44 months after the tie-up was sealed, few feel as if they have won. The merged company has been plagued by a streaming platform that couldn't decide on a name, while other recent cinematic releases like Barbie had been in development years before Discovery came knocking.
The new deal between Netflix and Warner Bros Discovery comes just days after hundreds of employees were laid off at the struggling media giant. The layoffs have sparked renewed concerns about the long-term viability of Warner Bros Discovery.
Despite Zaslav's impressive total pay package last year alone, his position as CEO of Warner Bros Discovery remains precarious. With the massive deal to sell assets to Netflix now closed, it is unclear what the future holds for David Zaslav or if Netflix's latest acquisition will finally prove that 'better together' was indeed a true statement.
David Zaslav's plan to merge Discovery Inc with WarnerMedia was hailed as the deal of a lifetime five years ago when he became CEO of Warner Bros Discovery in 2021. Now, Netflix is set to buy out assets of Warner Bros and HBO from the struggling Warner Bros Discovery for $82.7 billion.
Warner Bros Discovery has struggled to deliver on its promise of 'more resources and compelling pathways to larger audiences' to Hollywood operators who saw cost cuts and a continued struggle to revitalize returns at the box office. Shareholders have also watched as the company's stock suffered steep market declines, with executives struggling to strengthen its balance sheet.
The streaming giant Netflix has become a dominant force in the entertainment industry since its humble beginnings licensing old movies and TV series for people to watch on their computers. When Warner Bros Discovery was formed by Zaslav's mega merger between Discovery Inc and WarnerMedia in 2021, the promise of 'better and more valuable together' seemed optimistic.
However, 44 months after the tie-up was sealed, few feel as if they have won. The merged company has been plagued by a streaming platform that couldn't decide on a name, while other recent cinematic releases like Barbie had been in development years before Discovery came knocking.
The new deal between Netflix and Warner Bros Discovery comes just days after hundreds of employees were laid off at the struggling media giant. The layoffs have sparked renewed concerns about the long-term viability of Warner Bros Discovery.
Despite Zaslav's impressive total pay package last year alone, his position as CEO of Warner Bros Discovery remains precarious. With the massive deal to sell assets to Netflix now closed, it is unclear what the future holds for David Zaslav or if Netflix's latest acquisition will finally prove that 'better together' was indeed a true statement.
$82.7 billion?! That's insane! I mean, I get it, struggling Warner Bros Discovery needed the cash but like, couldn't they have stuck with their original plan? The whole 'better together' thing was always a bit wonky for me... like, did they really think merging all these different companies would magically solve everything? 
. I feel bad for them and the families involved. I guess that's what happens when things don't work out. The CEO, David Zaslav, is in a bit of hot water too... like, his future at Warner Bros Discovery is kinda uncertain now 
.
! Fingers crossed that this deal will finally bring some stability to Warner Bros Discovery. We'll just have to wait and see how it all plays out 
[GIF of a couple walking away from each other](https://i.giphy.com/giphy-day/3u5S2TjRr6WYVb1A4/200w)
[GIF of a sad cartoon character in a business suit](https://i.giphy.com/giphy-day/3u0W4r9TcX5l2kNqI/200w)
This is so crazy, I mean I knew Netflix had some deep pockets but $82.7 billion? That's like, insane! 
And Warner Bros Discovery just went from being a big deal to struggling to stay afloat? It's wild how fast things can change in the entertainment industry. 
That's no good at all. It's like, you can't put a price on creativity and innovation right? 
I hope Netflix knows how to make the most of this deal without killing the magic that makes Warner Bros Discovery (or whatever) worth something. 
hundreds of employees were let go... thats crazy. and like, isnt it weird that netflix is buyin out these assets for so much money? doesnt that say somethin about how valued they are to netflix?? 
. The question is, will Netflix finally figure out how to create something worth watching or just keep milking existing content? 
I'm kinda surprised Netflix is buying out Warner Bros and HBO like this. I mean, isn't the deal supposed to be about them working better together? It feels like they're just trying to save themselves from all these financial issues. I remember when it first happened in 2021, everyone was hyped about how good this merger would be for Hollywood... but now it just seems like Warner Bros Discovery is a mess 
or get a new job that doesn't involve laying off hundreds of ppl 
. All these layoffs and stuff... it's just sad to see so many talented people lose their jobs 
.
its like, the ultimate win for them! meanwhile warner bros discovery is just... struggling 