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There's another mega-merger on the way in the entertainment industry, with Netflix agreeing to purchase Warner Bros. Discovery for $87.2 billion. The deal, announced on Friday, will see Netflix take control of Warner Bros' film and TV production and IP, as well as the company's gaming division.
WB Games includes teams like U.K. developer Rocksteady, the creators of the Batman: Arkham series and Suicide Squad: Kill the Justice League. The gaming division also features Mortal Kombat developer NetherRealm Studios, LEGO game developer Traveller's Tales, and Hogwarts Legacy developer Avalanche Software.
Netflix emerged as the buyer for Warner Bros. Discovery after winning a round of bids, where it was competing against Comcast and Paramount Skydance, the latter of which was also reportedly heavily interested.
The deal has to pass through regulatory scrutiny, and is currently expected to be complete at some point in the third quarter of 2026.
