Netflix Submits Record $70 Billion Bid to Acquire Warner Bros. Discovery Assets

Netflix reportedly leads the pack with a massive offer for Warner Bros. Discovery’s studios and streaming operations. The bid, valued at around $28 per share, consists of 85 percent cash and aims to bundle services like HBO Max with Netflix’s platform.

This move comes amid a heated auction process that kicked off last month after initial bids fell short. Warner Bros. Discovery, still grappling with debt from its 2022 merger, now faces decisions that could reshape Hollywood’s landscape.

The entertainment giant has struggled to compete in the streaming wars, where subscriber growth has slowed and content costs have soared. Recent hits like “House of the Dragon” on HBO Max show promise, but overall revenue lags behind leaders like Netflix, which boasts over 280 million global subscribers.

Analysts point to consolidation as a survival tactic in an industry squeezed by cord-cutting and ad market shifts. Warner Bros. Discovery’s assets, including DC Studios and CNN, could provide Netflix with fresh content pipelines and bolster its ad-tier offerings.

A successful deal might lower prices for consumers through integrated bundles, yet it raises questions about creative control under one roof. Regulators could scrutinize the merger for antitrust risks, given Netflix’s market dominance.

Reports from multiple outlets confirm Netflix holds the highest bid as of early December 2025, surpassing offers from rivals like Paramount and Comcast. While the process draws accusations of bias toward Netflix, no final agreement has been reached, and a new bidding round wrapped up yesterday without a winner announced.

Media reporting for this story: 32% Left | 12% Right | 48% Center | 8% Unrated

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