Netflix is buying Warner Bros. What does it mean for you?

Christie Graham - Digital Content Editor

Last updated 08 December 2025

Of all the big business mergers we've seen over the last five years — Disney and Fox, Vocus and TPG, Microsoft and Activision Blizzard — Netflix's acquisition of Warner Bros is one of the most intriguing. It has the potential to disrupt not just the streaming space but also the already fragile cinema industry. So what does it all mean? And how will the acquistion impact Netflix and HBO Max subscribers if and when it goes ahead?

What's happened between Netflix and Warner Bros?

TLDR; Netflix has won the bidding war to acquire Warner Bros Discovery (WBD), in an eye-watering merger set to cost $82.7 billion.

If it all goes ahead, this means Netflix will own WBD film and TV studios as well as HBO and its HBO Max streaming service.

While the deal is still subject to regulatory approval, Netflix execs have expressed high confidence it will go ahead. Several bodies are opposing the deal, however.

These include the Directors Guild of America, The Writers Guild of America, and a number of US political figures across both the Democratic and Republican parties. Specific complains have also come from Director, James Cameron, actor, Jane Fonda, and CEO of Cinema United, Michael O'Leary. The main concerns centre around higher prices, fewer jobs, the closure of theatres, fewer creative risks, fewer news sources and decreased diversity in the industry.

With the right approvals in place, the deal is "expected to be completed in Q3 2026".

Why has Netflix acquired Warner Bros?

In the words of Netflix's own co-CEO, Greg Peters, "This acquisition will improve our offering and accelerate our business for decades to come.

With our global reach and proven business model, we can introduce a broader audience to the worlds they create — giving our members more options, attracting more fans to our best-in-class streaming service, strengthening the entire entertainment industry and creating more value for shareholders.”

President and CEO of Warner Bros. Discovery, David Zaslav, added that this announcement “combines two of the greatest storytelling companies in the world to bring to even more people the entertainment they love to watch the most”.

Netflix says the acquisition will result in "more choice, more opportunities and more value".

What does Warner Bros own?

Warner Bros. owns A LOT of content. Immediately cartoon classics like Looney Tunes come to mind but the more you dig, the more you realise how much they control. Big name film franchises include the DC Universe, Harry Potter, The Lord of the Rings while TV content spans The Last of Us, Game of Thrones, Succession, Friends, The Sopranos, The Big Bang Theory and everything else offered by HBO and HBO Max. In 2025 alone, Warner Bros. was second only to Disney in the worldwide Box Office, with huge hits like A Minecraft Movie, Superman, The Conjuring: Last Rites, Sinners, Final Destination: Bloodlines and Weapons all amongst the top 20 grossing movies of the year.

Will HBO Max continue to exist separately to Netflix?

At the time of writing, all signs point to yes. However, Netflix execs have stated its still early to confirm this.

Here's how much HBO Max subscriptions currently cost:

	Plan	Price	Details
HBO Max	HBO Max Basic with Ads Basic with Ads Full HD streaming · 2 devices at once Ads included Annual: $119.99/yr (Save $23.89) From $11.99/mth or $119.99/yr View Plan	From $11.99/mth or $119.99/yr	View Plan
HBO Max	HBO Max Standard Standard Full HD streaming · 2 devices at once Ad-free Annual: $159.99/yr (Save $31.89) From $15.99/mth or $159.99/yr View Plan	From $15.99/mth or $159.99/yr	View Plan
HBO Max	HBO Max Premium Premium 4K UHD · 4 devices at once Ad-free Annual: $219.99/yr (Save $43.89) From $21.99/mth or $219.99/yr View Plan	From $21.99/mth or $219.99/yr	View Plan

And here's how much Netflix currently costs in Australia:

	Plan	Price	Details
Netflix	Netflix Standard with Ads Standard with Ads Full HD streaming · 2 devices at once Ads included From $9.99/mth View Plan	From $9.99/mth	View Plan
Netflix	Netflix Standard Standard Full HD streaming · 2 devices at once Ad-free From $20.99/mth View Plan	From $20.99/mth	View Plan
Netflix	Netflix Premium Premium 4K UHD + HDR · 4 devices at once Ad-free From $28.99/mth View Plan	From $28.99/mth	View Plan

What will happen to already planned Warner Bros projects?

It's too early to tell. At this stage of the acquisition, the official PR line is an optimistic one:

"Netflix expects to maintain Warner Bros.’ current operations and build on its strengths, including theatrical releases for films."

But the last time Warner Bros. went through a merger (with Discovery) a number of high-profile projects were cancelled in the name of cost-cutting, including but not limited to Batgirl, Westworld, Full Frontal with Samantha Bee and Coyote vs. Acme.

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Christie Graham

Digital Content Editor

Christie Graham is a tech industry expert and former head copywriter for Harvey Norman's Computers and Tech category. She won a national Newscorp writing competition to review TV shows on Binge, and keeps busy juggling her many hobbies including baking, painting, archery, stargazing, tending to her chickens, training her Border Collie, expanding her Harry Potter replica collection, and making lists (much like this one).

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