Bloomberg Tech Netflix to Buy Warner Bros. in $72 Billion Cash, Stock Deal
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Dec 5, 2025 John Klein, a media executive and former CNN president, shares insights on Netflix's ambitious $72 billion acquisition of Warner Bros. Discovery. He discusses Hollywood's reaction, potential political ramifications, and antitrust concerns surrounding the deal. Olivia Solon, Bloomberg Tech editor, provides clarity on the EU's recent $140 million fine against X, stemming from issues with verification and data access. They delve into the broader implications for tech regulation and the challenges facing both traditional media and digital platforms.
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Netflix's Transformative Bet
- Netflix's acquisition of Warner Bros. Discovery would double Netflix's size and represents a major strategic shift for the company.
- The deal could close in 12–18 months if it passes regulatory hurdles and completes the planned cable spin-off.
Two-Thirds Deal Complexity
- Netflix will buy the studios and HBO Max while Warner spins off cable networks like CNN and TNT first.
- Comparing bids depends on how much value you assign to the spun-off cable business.
Industry Backlash Already Brewing
- John Klein recalled industry pushback from guilds, theater owners and political actors over the deal.
- He warned this will be a long saga with creative communities and politicians getting involved.