Netflix is closing in on its latest megadeal with the troubled Hollywood giant, Warner Bros Discovery. The streaming service has inked an $82.7 billion (£62 billion) deal to acquire assets including the iconic movie studio behind blockbuster franchises like Harry Potter and The Dark Knight, as well as the HBO cable channel.
The news comes as a stark contrast to the optimism expressed by Warner Bros Discovery CEO David Zaslav when the company merged with Discovery Inc in 2021. At the time, Zaz promised that combining the two companies would unlock "so much value and opportunity" for all stakeholders. However, over the past four years, the deal has failed to deliver on those promises.
Instead of the expected boost to Hollywood production and returns at the box office, Warner Bros Discovery has struggled to turn a profit. The company's stock has plummeted in value, and its executives have been under pressure to strengthen its balance sheet.
Fans and viewers, too, have been left disappointed by the streaming platform's inability to decide on a name, let alone offer more diverse choices of content. While Netflix will gain access to Warner Bros' extensive library of movies and TV shows, it remains to be seen whether the deal will be enough to turn around the company's fortunes.
Zaslav himself has done relatively well out of the deal, with his total pay package valued at $51.9 million last year. However, it is unclear how much he will benefit from this latest acquisition, which marks a new chapter in the troubled history of Warner Bros Discovery.
The deal is a significant departure from Netflix's humble beginnings as an upstart streaming service licensing old movies and TV series for people to watch on their computers. Today, the tech firm is one of the largest media companies in the world, with a vast library of content and a presence in over 190 countries.
As for Warner Bros Discovery, its latest struggles serve as a reminder that even the most well-intentioned deals can go awry. Will Netflix's latest acquisition be enough to turn around the company's fortunes, or will it succumb to the same pitfalls that have plagued Warner Bros Discovery in recent years? Only time will tell.
The news comes as a stark contrast to the optimism expressed by Warner Bros Discovery CEO David Zaslav when the company merged with Discovery Inc in 2021. At the time, Zaz promised that combining the two companies would unlock "so much value and opportunity" for all stakeholders. However, over the past four years, the deal has failed to deliver on those promises.
Instead of the expected boost to Hollywood production and returns at the box office, Warner Bros Discovery has struggled to turn a profit. The company's stock has plummeted in value, and its executives have been under pressure to strengthen its balance sheet.
Fans and viewers, too, have been left disappointed by the streaming platform's inability to decide on a name, let alone offer more diverse choices of content. While Netflix will gain access to Warner Bros' extensive library of movies and TV shows, it remains to be seen whether the deal will be enough to turn around the company's fortunes.
Zaslav himself has done relatively well out of the deal, with his total pay package valued at $51.9 million last year. However, it is unclear how much he will benefit from this latest acquisition, which marks a new chapter in the troubled history of Warner Bros Discovery.
The deal is a significant departure from Netflix's humble beginnings as an upstart streaming service licensing old movies and TV series for people to watch on their computers. Today, the tech firm is one of the largest media companies in the world, with a vast library of content and a presence in over 190 countries.
As for Warner Bros Discovery, its latest struggles serve as a reminder that even the most well-intentioned deals can go awry. Will Netflix's latest acquisition be enough to turn around the company's fortunes, or will it succumb to the same pitfalls that have plagued Warner Bros Discovery in recent years? Only time will tell.
. I mean, can't we talk about something more uplifting for once? Netflix is already a behemoth, do they really need to swallow another struggling giant like Warner Bros Discovery? It's just so much money being thrown around without any real thought to the artists and makers who actually create the content that we love 
. And what about all those talented writers, actors, and directors who are already struggling to make ends meet? Do they not deserve a fair shake? I swear, sometimes I think these deals are just more about lining the pockets of the executives than actual storytelling 
i mean david zaslav must have been totally blind when he agreed to merge with discovery inc in 2021 but whatever happened to his "so much value and opportunity" promise 
now wbd is like the ultimate failure story and netflix is taking on all the risk 
And what about all the fans and viewers who are just waiting for some actual content to stream on Netflix? I mean, come on, they can't even decide on a name yet... this acquisition better bring its A-game or else it's just another failed experiment 
. But for real though, this deal raises so many questions about the future of streaming. Are they gonna keep milking out Warner Bros' old content or actually invest in new stuff? The lack of innovation from both companies is mind-numbing... I swear, I'd rather watch paint dry on Netflix than see another "Harry Potter" reboot 
.
The more I think about it, the more I'm worried that we're just seeing another example of a huge corporation buying up smaller companies without really changing the way things are done 
. It feels like he's getting away scot-free while the rest of us are stuck dealing with declining profits and inconsistent content. Not cool, Netflix 