"Netflix, already the largest streaming platform with over 325 million subscribers, took a bold step by acquiring Warner Bros. ' film and television studios, as well as HBO, HBO Max, and other assets. The deal, announced in early December, will bring together some of the most legendary franchises, such as Game of Thrones, Harry Potter, and DC Comics properties, among others, all under one roof."
"For years, WBD has struggled under the weight of billions of dollars in debt, compounded by declining cable viewership and fierce competition from streaming platforms. These financial pressures forced the company to consider major strategic changes, including selling its entertainment assets to one of its rivals. The bidding process quickly became competitive. Several major players saw the potential in acquiring the media giant."
Netflix, already the largest streaming platform with over 325 million subscribers, acquired Warner Bros.' film and television studios, HBO, HBO Max, and related assets. The acquisition brings franchises such as Game of Thrones, Harry Potter, and DC Comics under one roof. WBD pursued a sale after years of heavy debt, declining cable viewership, and competitive streaming pressure. The bidding process included Paramount and Comcast, with Paramount offering approximately $108 billion to buy the entire company. Netflix targeted the entertainment and streaming assets and amended its offer to an all-cash $27.75 per WBD share, reassuring investors. The megadeal is expected to reshape Hollywood dynamics and industry competition.
Read at TechCrunch
Unable to calculate read time
Collection
[
|
...
]