In what has been called the biggest deal in the industry for years, Netflix has announced that they will be acquiring Warner Brothers including its film and television studios HBO and HBO Max. In a statement by Netflix they highlighted their excitement at uniting their own entertainment portfolio with iconic franchises like DC, Harry Potter, and Game of Thrones.

“Our mission has always been to entertain the world,” said Ted Sarandos, co-CEO of Netflix. “By combining Warner Bros.’ incredible library of shows and movies—from timeless classics like Casablanca and Citizen Kane to modern favorites like Harry Potter and Friends—with 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.” 

David Zaslav, President and CEO of Warner Bros. Discovery, agreed stating “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.”

The move has raised mixed emotions. Some are intrigued and delighted by the acquisition anticipating more choice and variety in entertainment, others have shared their concerns over price increases or reduced market competition. Netflix were quick to send out an email to their subscribers assuring them that for now nothing was changing. They also confirmed that currently both streaming services would continue to operate separately. It’s clear that eventually there will be change but with the deal not fully finalised, Netflix and Warner Bros. are keeping theirs cards close to their chest leaving people to speculate on the possibilities. One thing is certain though, if the deal goes through it will have a major impact on the entertainment industry as a whole.