Warner Bros. in Exclusive Talks with Netflix: Streamer Eyes $28/Share Acquisition

In a move straight out of a blockbuster script, Warner Bros. Discovery has entered exclusive negotiations with Netflix for the sale of its film & TV studios and HBO Max, with Netflix reportedly offering around $28 a share. That price tag appears to have ended a scorching bidding war involving heavyweights like Paramount and Comcast. Call it what you want: a merger. Theatrical release. Or the next big streaming cliff‑hanger.

If it goes through, this deal would fold legendary IP. Think of franchises like Harry Potter, DC Comics movies, classic HBO series - into Netflix’s subscriber base of 300 million+. It’s a potential reshuffle of Hollywood’s deck: legacy film studios merging with a data‑driven streaming giant that already knows what you binge, what you skip, and what you re‑watch at 2AM.

That said - nothing’s official yet. The agreement reportedly includes a hefty multi‑billion‑ dollar breakup fee if regulators or other complications block the deal. Rumors of antitrust pushback are already swirling, especially in the U.S. and Europe. So while the headlines are flashy, this could still end up as ‘deal postponed’ or ‘mad sale after all.’

Still, whether it happens or not, the fact that talks are exclusive and allegedly near the finish line is enough to make the industry sit up. Streaming, theatrical, content libraries, subscriber data - everything’s on the table. If Netflix wins, Hollywood might just get its first giant-scale content remix in decades.

The Takeaway

This potential Netflix–Warner deal isn’t just about who owns what. It’s a sign that the future of entertainment may be less about cable vs streaming, and more about scale, data‑driven reach, and owning memories. If it lands, expect franchises, release schedules, and even how we binge to get rewritten.