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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.
Netflix and Warner Bros. both scaled back their gaming divisions earlier this year
This move comes as both Netflix and Warner Bros. have made significant cuts to their respective gaming divisions over the past year.
Netflix has shuttered multiple studios, including Team Blue, a studio that housed numerous veterans from across the industry who have worked on franchises like Halo and God of War.
Meanwhile, WB Games canceled a Wonder Woman game and closed developer Monolith Productions, while also shuttering MultiVersus developer Player First Games and the support team at Warner Bros. Games San Diego.
Looking ahead, Rocksteady is reportedly working on a new Batman game, while Avalanche Software is developing a sequel to Hogwarts Legacy, though both of these games are currently years away from launching.
More immediately, Traveller's Tales is developing LEGO Batman: Legacy of the Dark Knight, which is slated to launch on Xbox, PC, PlayStation, and Nintendo Switch 2 at some point in 2026.
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