Dec 5 (Reuters) – Netflix has agreed to buy Warner Bros Discovery’s TV and film studios and streaming division for $72 billion, a deal that would hand control of one of Hollywood’s most prized and oldest assets to the streaming pioneer that has upended the media industry. KIM FORREST, CHIEF INVESTMENT OFFICER AT BOKEH CAPITAL […]
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Instant View: Netflix to buy Warner Bros Discovery’s studios, streaming unit for $72 billion
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Dec 5 (Reuters) – Netflix has agreed to buy Warner Bros Discovery’s TV and film studios and streaming division for $72 billion, a deal that would hand control of one of Hollywood’s most prized and oldest assets to the streaming pioneer that has upended the media industry.
KIM FORREST, CHIEF INVESTMENT OFFICER AT BOKEH CAPITAL PARTNERS IN PITTSBURGH
“It’s super interesting that the bidding came down to Netflix winning and that a lot is being focused on the streaming business, which you know is Netflix business. Now I think it’s going to be a heavy burden to get it passed through the regulators, not just in the United States but also worldwide. It’s going to be an issue, but apparently the companies think that they can overcome that.”
CHRIS BEAUCHAMP, CHIEF MARKET ANALYST AT IG GROUP
“Netflix is badly in need of something to pep up its faltering share price, but this deal might not be it. Industry data suggests a wide crossover between those that have Netflix and those with HBO Max, so the immediate benefits are not apparent at present. Plus, the competition angle and a potential White House intervention loom large. Having seen its shares rise five-fold since 2022, it seems investors want something more to reenergise the stock price.”
(Reporting by Shashwat Chauhan, Twesha Dikshit, Arpan Varghese in Bengaluru)