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WWE Streaming Partner Netflix To Acquire AEW Network Partner Warner Bros.

In an absolutely blockbuster merger, Netflix is set to acquire Warner Bros. for $87.2 billion.
Rick Ucchino|
Netflix to acquire Warner Bros.
Netflix to acquire Warner Bros. | IMAGO / SOPA Images

Netflix and Warner Bros. Discovery announced Friday morning that they have entered into a blockbuster agreement that will see Netflix acquire Warner Bros. for approximately $82.7 billion. The deal includes the company's film and television studios, as well as HBO Max and HBO.

According to a press release from Netflix, the transaction is expected to close after the previously announced separation of Discovery Global into a new publicly-traded company is completed in Q3 2026.

The acquisition will add a number of beloved franchises, shows, and movies to the Netflix streaming portfolio, including The Big Bang Theory, The Sopranos, Game of Thrones, The Wizard of Oz, and the DC Universe. It will also bring the world's two largest professional wrestling companies under the same broadcast umbrella.

WWE and Netflix agreed to a 10-year, $5 billion deal that made the streaming giant the official home of Monday Night Raw in the United States as of January 6 of this year, while WDB and AEW signed off on a new multi-year multimedia rights deal late last year to continue broadcasting episodes of Dynamite and Collision on TBS and TNT. Both shows, as well as AEW pay-per-views, are also available to be streamed on HBO Max.

It is entirely too early into the acquisition process to determine the scope of the impact this merger will have on the AEW media rights agreement, assuming it gets the necessary government approval in the first place.

“Today’s 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,” said David Zaslav, President and CEO of Warner Bros. Discovery, in a release Friday morning. “For more than a century, Warner Bros. has thrilled audiences, captured the world’s attention, and shaped our culture. By coming together with Netflix, we will ensure people everywhere will continue to enjoy the world’s most resonant stories for generations to come.”

Mina Shirakawa is one of the many names from AEW who will participate in this year's CMLL Women's Grand Prix.
Mina Shirakawa | All Elite Wrestling

More details are expected to be released during a conference call this morning, but Netflix released the following bullet points on what this deal will mean for customers.

Combination Will Offer More Choice, More Opportunities, More Value 

  • Complementary strengths and assets: Warner Bros.’ studios are world-class, with Warner Bros. recognized as a leading supplier of television titles and filmed entertainment. HBO and HBO Max also provide a compelling, complementary offering for consumers. Netflix expects to maintain Warner Bros.’ current operations and build on its strengths, including theatrical releases for films.
  • More choice and greater value for consumers: By adding the deep film and TV libraries and HBO and HBO Max programming, Netflix members will have even more high-quality titles from which to choose. This also allows Netflix to optimize its plans for consumers, enhancing viewing options and expanding access to content.  
  • A stronger entertainment industry: This acquisition will enhance Netflix’s studio capabilities, allowing the Company to significantly expand U.S. production capacity and continue to grow investment in original content over the long term which will create jobs and strengthen the entertainment industry. 
  • More opportunities for the creative community: By uniting Netflix’s member experience and global reach with Warner Bros.’ renowned franchises and extensive library, the Company will create greater value for talent—offering more opportunities to work with beloved intellectual property, tell new stories and connect with a wider audience than ever before.

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Rick Ucchino
RICK UCCHINO

Rick Ucchino is the Assistant Editor & Content Coordinator for The Takedown on SI. He also works full-time for 700WLW Radio in Cincinnati, Ohio as a local news and sports anchor, in addition to his time covering the Cincinnati Bengals for Sirius XM. Rick has been on the professional wrestling beat since 2019, having provided coverage for a number of outlets, including Fightful, SB Nation’s Cageside Seats and the Bleav Podcast Network. With an educational background in theater, creative writing and journalism, Rick focuses primarily on the storytelling aspect of pro wrestling, but he’s no stranger to the squared circle himself. He had the privilege of training with former WWE & WCW cruiserweight Jimmy Wang Yang for nearly two years and retired early due to back issues with a perfect 1-0 record in singles competition. Rick is a married father of two incredibly adorable children, who are budding pro wrestling fans themselves. Much to the chagrin of their mother. You can reach Rick at rwucchino@gmail.com