"Our mission has always been to entertain the world, Ted Sarandos, Netflix's co-CEO, said in a statement. By combining Warner Bros.' incredible library of shows and moviesfrom timeless classics like Casablanca and Citizen Kane to modern favorites like Harry Potter and Friendswith our culture-defining titles like Stranger Things, KPop Demon Hunters and Squid Game, we'll be able to do that even better. Together, we can give audiences more of what they love and help define the next century of storytelling."
"On Thursday, Paramount Skydance accused Warner Bros. Discovery of overseeing a tilted and unfair bidding process that it claims is biased toward Netflix in a scathing letter to WBD CEO David Zaslav. In the letter, published by CNBC, lawyers for Paramount warned the media giant that it appeared to have abandoned the semblance and reality of a fair transaction process in pursuit of a predetermined outcome, citing media reports that Warner executives have warmed decisively to Netflix and see chemistry between the companies' leadership teams."
Netflix agreed to acquire Warner Bros. Discovery for $83 billion, gaining the studio's vast catalogue and streaming assets including HBO and HBO Max. The transaction will finalize after the separation of Warner Bros. and Discovery Global. The combined content pool spans classic films such as Casablanca and Citizen Kane, blockbuster franchises like Harry Potter, and popular series including Friends, alongside Netflix originals like Stranger Things and Squid Game. The sale followed an intense bidding contest involving suitors such as Paramount and Comcast. Paramount Skydance accused Warner Bros. Discovery of running a tilted, biased bidding process favoring Netflix.
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