It is a media deal that could shift the landscape of the wrestling industry.
It was announced today that Netflix is buying Warner Bros. Discovery’s TV and film studios and streaming division for $72 billion U.S.
Netflix outbid Paramount Skydance who was also interested in purchasing the company. The boards of directors for both Netflix and Warner Bros. Discovery have signed off on the deal.
“Together, we can give audiences more of what they love and help define the next century of storytelling,” Netflix co-CEO Ted Sarandos said in a statement.
Warner Brothers Discovery is not only home to DC Comics and the DCU franchise of movies but also Game of Thrones, Harry Potter but also the cable station TBS which airs AEW programming. AEW is also streamed on HBO Max. Three years ago, Warner Brothers and Discovery Communications came together in a $43 billion deal. Netflix has said it will continue to launch Warner Bros. movies in theaters and the television studio will continue its productions as well.
WWE and Netflix signed a 10-year, $5 billion deal that saw all of their programming and events move to Netflix in international markets and Raw in America.
When Netflix’s co-chief executive Greg Peters was asked about whether HBO Max would be folded into Netflix somehow he said: “We think it’s quite early to get into the specifics of how we’re going to tailor this offering for consumers.”
