‘Merger must be blocked’ — Hollywood is furious! Netflix’s $82.7 billion Warner Bros. takeover sparks massive backlash

The Writers Guild of America (WGA) stated that if the deal passes regulatory review, it “would eliminate jobs, push down wages, worsen conditions for all entertainment workers, raise prices for consumers, and reduce the volume and diversity of content for all viewers.”

“The world’s largest streaming company swallowing one of its biggest competitors is what antitrust laws were designed to prevent,” the guild added. “Industry workers and the public are already impacted by only a few powerful companies controlling what consumers can watch on television, streaming platforms, and in theaters. This merger must be blocked.”

The deal would bring Netflix’s popular streaming service together with HBO’s brands and Warner Bros.’ celebrated franchises. Netflix, known for hits like Stranger Things, Squid Game, and Money Heist, could gain control over Warner Bros. properties such as Batman, Casablanca, and Game of Thrones.

The transaction, a mix of cash and stock, values WBD at $27.75 per share, with a total enterprise value of approximately $82.7 billion and an equity value of $72 billion. The acquisition is expected to close after the planned separation of WBD’s Global Networks division, Discovery Global, into a new publicly traded company in Q3 2026.

If approved, the merger will combine two entertainment powerhouses. Warner Bros.’ iconic library—including The Big Bang Theory, The Sopranos, Game of Thrones, The Wizard of Oz, and the DC Universe—will join Netflix’s slate featuring Wednesday, Money Heist, Bridgerton, Squid Game, and Extraction.

Netflix co-CEO Ted Sarandos said, “Our mission has always been to entertain the world. 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, we’ll be able to do that even better.”

Co-CEO Greg Peters added, “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, and creating more value for shareholders.”

WBD President and CEO David Zaslav described the merger as “a natural evolution in global entertainment. For more than a century, Warner Bros. has thrilled audiences and shaped culture. By coming together with Netflix, we will ensure people everywhere continue to enjoy the world’s most resonant stories for generations to come.”

The announcement marks a pivotal moment in the streaming landscape, signaling significant consolidation in Hollywood as companies vie for global audiences and long-term profitability. Analysts predict the merger will face intense regulatory scrutiny due to its scale and potential impact on industry competition.