Entertainment
Netflix to buy Warner Bros. in a deal valued at $82.7 billion
Netflix on Friday said it is buying Warner Bros. in a deal valued at $82.7 billion, merging the biggest streaming service with a storied studio that has produced films such as “Casablanca” and the “Harry Potter” franchise.
In a statement, Netflix said the deal is expected to close after Warner Bros. Discovery spins off its television networks division, Discovery Global, which is now expected to be completed in the third quarter of 2026.
The agreement comes after Warner Bros. Discovery, the parent of Warner, had announced in June that it planned to split in two, dividing its cable networks such as CNN and TNT Sports from its streaming and studios business, including HBO Max and Warner Bros. Television.
But in October, Warner Bros. Discovery said it had attracted interest from companies about buying all or parts of it outright, with the Wall Street Journal reporting that media and entertainment businesses, including Paramount Skydance (the parent company of CBS News) and Comcast Corp., were also pursuing a deal for Warner Bros.
According to media reports, Paramount Skydance was interested in acquiring all of Warner Bros., including its cable assets such as CNN and Discovery.
Netflix said it will buy Warner Bros. for $27.75 per share, giving the deal an equity value of $72 billion and a total enterprise value of $82.7 billion. The transaction is expected to close in 12 to 18 months, Netflix said.
Buying Warner Bros.’ studios would mark a major strategic shift for Netflix. Under the proposed deal, the streaming giant has pledged to honor any contractual agreements for releasing Warner Bros.’ studio films.
Yet Netflix could face regulatory hurdles in seeking to complete the deal amid concerns the transaction could weaken competition among theaters, Wall Street analysts said.
“Significant concerns have been voiced over the potential impact to the theatrical market should Netflix take over [Warner Bros.],” analysts with Wedbush Securities said in a note to investors, adding that “concerns remain within the industry and among government officials” about the impact of such a deal.
Why Netflix wants Warner Bros.
In a conference call with investors to discuss the acquisition, Netflix executives said the deal will help the company attract more subscribers, while also creating value for shareholders.
“We expect to attract and maintain more subscribers, and drive incremental revenue and operating income,” co-CEO Greg Peters said on the call. “We think it’ll accelerate our business for decades to come.”
Peters was also questioned about his comments at an October conference, when he said that big media mergers “don’t have an amazing track record.” On Friday, the executive said he believed this merger would prove to be different because of Netflix’s expertise in creating content.
“A lot of those failures [are] because the company doing the acquisition didn’t understand the entertainment business,” he said. “We understand the business.”
Analysts said Netflix would benefit by adding Warner Bros.’ extensive streaming and film content.
“The rationale for such a deal stems from merging two overlapping streaming offers into a single flagship Netflix app or a tight Netflix-HBO Max bundle, with one login, one discovery layer and one advertising system,” analysts with market research firm MKI Global said in a report. “Netflix would gain leverage by pairing its global reach with WBD’s brands and library, improving negotiations with advertisers and partners, allowing weaker legacy feeds to be phased out over time, and shifting rights and franchises into the platforms and windows that deliver the best returns.”
Shares of Warner Bros., whose stock price has more than doubled since this summer as speculation of a possible deal heated up, were mostly flat before the start of U.S. trading. Netflix shares fell $2.85, or 2.8%, to $100.50.
—This is a developing story and will be updated
Entertainment
Dan Levy shares update on Catherine O’Hara starrer ‘Schitt’s Creek’ sequel
Dan Levy revealed that he once considered revisiting Schitt’s Creek.
In a new interview with CBS Sunday Morning, the Emmy-winning creator admitted he had been “thinking about” a sequel to the beloved CBC comedy before O’Hara’s death earlier this year.
“No, not now. You can’t,” Levy said, visibly emotional as he walked through Goodwood, Ontario, the small town that doubled as the show’s fictional setting.
Levy reflected on the memories tied to O’Hara, who played matriarch Moira Rose across the series’ six seasons.
“It’s tough being back. I didn’t think that I’d have quite an emotional reaction,” he said. “Just a lot of memories, a lot of memories with Catherine. It’s what you have to hold on to.”
O’Hara, a two-time Emmy winner known for SCTV, Home Alone, and her iconic turn on Schitt’s Creek, died in late January at age 71 from a pulmonary embolism.
Rectal cancer was reported to be the underlying cause, as per Deadline.
Fans have since left tributes at the real-life Rose Apothecary store in Goodwood, which now sells merchandise and includes a condolence book dedicated to her.
Schitt’s Creek ran from 2015 to 2020, transforming from a cult favorite into a mainstream phenomenon after gaining traction on Netflix.
The series, starring Levy alongside his father Eugene Levy, sister Sara Levy, Annie Murphy, Emily Hampshire, Chris Elliott, Jennifer Robertson, Noah Reid, and O’Hara, won nine Emmys in its final season including Outstanding Comedy Series and acting trophies across all four major categories.
Levy, who is now preparing to launch his Netflix comedy Big Mistakes, said the memories of working with O’Hara remain his greatest takeaway.
“For someone who was not on the internet, she knew how to meme,” he added with a smile.
While fans may have hoped for more Schitt’s Creek, Levy’s comments make clear that the idea ended with the passing of Catherine O’Hara.
Entertainment
Taylor Swift, Travis Kelce wedding date rumor spirals, planner breaks silence
Taylor Swift’s wedding plans with Travis Kelce are already the hottest topic in pop culture, and now, a rumored June 13 date has sent fans into a frenzy.
The speculation seemed almost too perfect!
Swift’s favorite number is 13, the Ocean House resort in Rhode Island sits near her $18 million Watch Hill mansion, and reports claimed the couple had locked in the venue for a star-studded ceremony.
But the buzz didn’t last long.
Wedding planner Tara Guérard, who is overseeing an event at the Ocean House that day, stepped in to clarify that while she is indeed planning a wedding there, Life of a Showgirl hitmaker is not her bride.
The statement instantly deflated the viral chatter, proving that the June 13 booking belongs to another couple entirely.
Still, the fans are not fully convinced.
Reportedly, the guest list could include Selena Gomez, Gigi Hadid, Patrick Mahomes, and Jason Kelce, with festivities split between Swift’s mansion and the Ocean House.
Sources say Swift has already chosen her gown and plans to keep the ceremony traditional, with her father walking her down the aisle.
Whether the big day lands on June 13 or another summer date, one thing is clear: every detail of Swift and Kelce’s wedding is destined to dominate headlines, with fans eager to decode clues and planners rushing to debunk the noise.
Entertainment
King Charles, Prince William ‘row’ over Beatrice, Eugenie unfolds
King Charles’ latest decision for Princess Beatrice and Princess Eugenie confused and revealed the power shift behind Palace walls.
Earlier, it was reported that the sisters had been asked not to join the royals at this year’s Royal Ascot event.
They were also marked Easter with their own families away from the spotlight.
But sources revealed that the daughters of the York household will make an appearance at the racecourse despite the heat of the Epstein scandal.
Royal author Andrew Lownie believes that King Charles has been sending “mixed signals” in Beatrice and Eugenie’s ongoing saga.
As per the Mirror, he said, “They’re banned from Royal Ascot, they’re banned from Easter, then suddenly they are now coming to Ascot.”
Quoting another royal commentator, Tom Skyes, Mr Lownie pointed out that the decision to let Beatrice and Eugenie come to Royal Ascot showcased the “dominating” side of Prince William.
It has been said that the Prince and Princess of Wales won’t skip Easter, but they are not big fans of Ascot.
Mr Lownie explained, “Tom Sykes has pointed out that the Easter ban shows the waning power of the King in the face of an increasingly dominant William.”
He added, “This may well be the case, but if it is, then isn’t he repeating the mistakes of his father and grandmother?”
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