Netflix to Acquire Warner Bros. for 106 Trillion Won

Securing HBO and CNN
Major Upheaval Expected in the Entertainment Industry

The Wall Street Journal reported on December 5 (local time) that Netflix has agreed to acquire Warner Bros. Discovery for $72 billion (approximately 106 trillion won). The merger of the world's largest streaming service with one of Hollywood's leading studios is expected to bring seismic changes to the entertainment industry.

Warner Bros. owns HBO Max, CNN, TNT, and Discovery, among others. Through this acquisition, Netflix will significantly strengthen its original content production capabilities and gain control over news and cable channels as well.

Warner Bros. was formed in 2022 through the merger of WarnerMedia and Discovery. It is a comprehensive media group encompassing film and TV studios, streaming services, and cable channels.

Before the sale, Warner Bros. plans to complete a corporate split of its cable broadcasting division. In June, the company announced that it would separate its streaming and studio business from its cable broadcasting operations into independent companies by next year.