In a surprising announcement this morning, Warner Bros. Discovery CEO David Zaslav sent a letter to all employees confirming rumors: Netflix will be acquiring Warner Bros. The Board of Directors has approved the deal.
This is a significant step beyond the earlier discussions. According to David Zaslav, they’ve now reached a formal agreement, which is awaiting approval from regulators. This also confirms that Warner Bros. Discovery’s planned separation is still on track.
An internal email sent to all employees revealed news that’s quickly spreading throughout Hollywood. David Zaslav announced that Warner Bros. Discovery’s board has agreed to be acquired by Netflix, though the deal still needs regulatory approval and depends on the final separation of Discovery Global from Warner Bros. Discovery.
Wow, this changes everything! I thought we knew what was happening with Warner Bros. and Netflix, but this latest news completely flips the script. It’s not just about the deal itself; it solidifies Netflix’s restructuring plans. David Zaslav just confirmed that Discovery Global will be spun off as its own company, with Gunnar Wiedenfels taking the helm as CEO. Apparently, they’re aiming to have that separation finalized by the third quarter of 2026. It’s a huge development and really reshapes how we’ve been thinking about the media landscape.
Netflix today announced it has acquired Warner Bros. This partnership will allow us to shape the future of entertainment and deliver amazing stories to viewers around the world.
— Netflix (@netflix) December 5, 2025
This means two enormous corporate shifts are happening simultaneously.
The entertainment landscape will never look the same.
A Deal Bigger Than Anyone Expected
Zaslav’s letter doesn’t hide the fact that this change will be disruptive, explaining that it’s a response to major shifts in the entertainment industry. He believes this new structure will ultimately create a stronger future for both parts of the company.
He also concedes the announcement raises uncertainty within the ranks.
He acknowledged the announcement raises a lot of questions about the future. He explained that deals like this often cause uncertainty, and it won’t be possible to answer everything right away.
The biggest change will likely be how the companies work together. Warner Bros. Discovery’s CEO, Zaslav, announced they’re creating a shared “Integration Office” with Netflix to start planning the transition – a step that doesn’t occur simply during negotiations. It signals the deal has been officially agreed upon.
Even though the deal is still awaiting regulatory approval, Warner Bros. Discovery and Netflix are beginning to prepare for the merger. Employees have been told they need to go through official channels if they want to communicate with people at Netflix, and shouldn’t coordinate directly with them yet.
The Warner Bros–Netflix Era Has Begun
Zaslav spelled out exactly what happens next.
He explained that they will shift their efforts away from the previously planned way of working with two separate companies and concentrate on completing this deal instead.
That single sentence proves the company’s plans have been completely changed to focus on acquiring Netflix.
He explained that, following today’s decisions, this new setup should allow Warner Bros. to operate more smoothly within Netflix, while also enabling Discovery Global to function independently.
Let me be clear: a deal between Warner Bros. and Netflix isn’t just talk – it’s happening. Forget speculation, forget potential options, this isn’t a ‘maybe’ situation. From what I’m hearing, it’s a done deal, or very, very close to it.
It is the accepted direction of the company pending regulatory approval.
The long-anticipated split of Discovery Global is now a finalized condition of the deal, something many experts previously thought wouldn’t happen.
Employees Brace for a Transformation
Zaslav recognizes that these changes are difficult for people, but he also believes they can lead to new opportunities. He said, “I know moments like this carry weight… and they can also mark the beginning of new possibilities.”
He emphasized a commitment to communication through the transition.
We strive to make thoughtful decisions, explain things in a straightforward way, and provide everyone with the information and help they need throughout the process.
WBD will hold a global town hall later today to begin addressing questions.
Why This Changes Everything
The letter confirms two monumental developments:
1. The Netflix Warner Bros acquisition is a done deal at the board level.
I’m so excited! It looks like Netflix is on the verge of buying a historic Hollywood studio! All that’s left now is for the deal to get the official go-ahead from regulators, which could be tricky, but everyone involved seems confident they’ll get it done. It’s a huge step for Netflix, and I can’t wait to see what they do with it!
2. Warner Bros. Discovery as we know it is ending.
The company will split into:
Warner Bros., joining Netflix, and
Discovery Global, a newly independent corporation.
This is not just a merger or an acquisition. This is a full-scale corporate transformation.
The entertainment world is facing a completely new situation, and all the major players – from movie studios to streaming services – will be quickly rethinking their plans.
The Massive Regulatory Wall Ahead
Although David Zaslav suggests the Netflix-Warner Bros. agreement signals a new strategy for the company, it’s not yet a done deal. In fact, the main challenge now comes from Washington, D.C. Reports suggest that U.S. antitrust regulators are likely to officially block the agreement.
Government agencies like the Federal Trade Commission and the Department of Justice have been closely examining major mergers between media and tech companies for the past year. Industry experts say combining Netflix, the leading streaming service, with Warner Bros., a major movie and TV studio, would likely raise serious concerns. Because Netflix is already so dominant in streaming, regulators and politicians would likely strongly oppose any attempt to buy Warner Bros.
Things get trickier when you consider the larger changes happening at Warner Bros. Discovery. Regulators won’t just be looking at who benefits from these changes, but also who might face less competition – particularly when it comes to licensing content, distributing movies in theaters, and controlling the streaming market. Because Warner Bros. owns so much valuable content, has a worldwide distribution system, and controls many popular franchises, some people are already suggesting that Netflix could end up with too much power.
While the company’s board might approve this deal, it looks like Washington plans to challenge it.
Even if the deal goes through, it’s likely to face intense scrutiny, delays, and detailed examination from regulators. The big question for Hollywood now is whether Netflix and Warner Bros. Discovery can withstand that level of regulatory challenge.
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2025-12-05 16:59