Netflix acquires Warner Bros and HBO in Sh12.7 trillion deal
The deal is poised to reshape entertainment consumption for millions of viewers across Africa, Europe, Asia, and the Americas.
Netflix has announced the acquisition of Warner Bros’ film and television studios, along with HBO and the streaming service HBO Max, in a record-breaking deal worth $82.7 billion (Sh12.71 trillion), marking one of the most consequential moments in modern entertainment history.
The agreement, confirmed on December 5, 2025, will see Warner Bros Discovery (WBD) spin off its traditional cable networks into a separate independent company, while its premium storytelling arm, including Warner Bros Pictures, Warner Bros Television, HBO, and HBO Max, transitions into Netflix’s rapidly expanding global empire.
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The acquisition, which has been months in the making, positions Netflix at the centre of a dramatic reshuffle in the streaming landscape, transforming it from a content platform into a true Hollywood powerhouse.
For Hollywood and audiences worldwide, the deal represents a merger of two giants:
- Warner Bros, the century-old studio behind Harry Potter, DC Comics, Game of Thrones, and thousands of other classics.
- Netflix, the world’s largest streaming service, with over 270 million global subscribers and unmatched distribution power.
According to details shared by Netflix, the agreement values Warner Bros at an equity worth $72 billion (Sh11.6 trillion), with the rest of the figure tied to debt and liabilities. Shareholders of Warner Bros Discovery will receive a combination of cash and Netflix stock.
For now, both Netflix and HBO Max will continue running as separate platforms, but analysts predict that a gradual integration, possibly through bundles or content migration, is inevitable.
The deal is poised to reshape entertainment consumption for millions of viewers across Africa, Europe, Asia, and the Americas.
With this acquisition, Netflix gains access to: Warner Bros’ deep film vault, HBO’s award-winning prestige series, popular global franchises like DC Universe, The Hobbit, The Matrix, Looney Tunes, and more.
As well as active film and TV production units operating in the US, UK, and beyond.
This gives Netflix unprecedented scale, almost guaranteeing that more households will rely on one platform for the widest range of entertainment.
The company also estimates that the merger could generate $2–3 billion (Sh258.4–387.6 billion) in efficiencies within three years, enabling faster production cycles and streamlined global releases.
Netflix has confirmed it will maintain theatrical releases under the Warner Bros banner, a relief for cinema owners who had feared another blow after years of industry turbulence.
Meanwhile, HBO Max, one of Netflix’s biggest competitors until now, will continue to operate independently “for the foreseeable future”, according to Warner Bros Discovery management.
Approval is expected to take months, with Warner Bros’ cable division expected to complete its separation by Q3 2026 before the Netflix deal is finalised.
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For viewers, especially in Kenya, the acquisition may mean easier access to premium HBO titles that were previously unavailable or delayed.
Africa, historically underserved by premium streaming brands, could gain wider and more affordable access to thousands of new titles if Netflix integrates its libraries globally.
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