Do these 3 things before closing this tab:
1Scan for outdated or missing drivers - takes under a minute2Clear out junk files and repair common Windows errors3Fix the driver behind crashes, sound loss and screen glitchesNo. Netflix never bought HBO Max or Warner Bros. Discovery (WBD). Netflix’s proposed $82.7 billion acquisition fell through in February 2026, and Paramount completed its acquisition of WBD on October 6, 2026. The roughly $83 billion headline figure refers to Netflix’s abandoned proposal—not the deal that closed.
What happened to Netflix’s proposed deal?
On December 5, 2025, Netflix announced a plan to acquire Warner Bros., including its film and television studios, HBO and HBO Max, following WBD’s planned separation of its Global Networks business. Netflix described the proposal as approximately $82.7 billion in enterprise value and $72.0 billion in equity value. Those were figures for a proposed transaction, not a completed purchase. Netflix’s announcement set out the original proposal.
| # | Preview | Product | Price | |
|---|---|---|---|---|
| 1 |
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Warner Bros. Major Crimes: The Complete First Season (DVD, 3-Disc Set) | $34.45 | Buy on Amazon |
| 2 |
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Warner Bros One Tree Hill: The Complete Series - DVD | $133.69 | Buy on Amazon |
| 3 |
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Warner Bros Banshee - Complete Series - DVD | $79.99 | Buy on Amazon |
| 4 |
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Human Body DVD by Rock 'N Learn | $29.99 | Buy on Amazon |
| 5 |
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Phonics Volume 1 DVD by Rock 'N Learn | $6.90 | Buy on Amazon |
On January 20, 2026, Netflix and WBD amended the offer to an all-cash payment of $27.75 per WBD share, plus the value of the planned Discovery Global separation. The amended proposal remained conditional on that separation, regulatory approvals, WBD stockholder approval and customary closing conditions. Netflix’s announcement of the amended terms described those conditions.
Why didn’t Netflix buy Warner Bros.?
WBD determined that Paramount Skydance’s latest proposal was superior under its agreement with Netflix. On February 26, 2026, Netflix declined to raise its offer. Co-CEOs Ted Sarandos and Greg Peters said that matching Paramount Skydance’s bid would make the deal “no longer financially attractive.” That was Netflix’s stated rationale, not an independent finding about the companies’ finances. Netflix’s statement announced its decision.
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The following day, WBD terminated its Netflix merger agreement in connection with entering into an agreement with Paramount Skydance. WBD’s Q1 2026 filing says it paid Netflix a $2.8 billion termination fee. WBD’s filing records the termination and fee.
Who owns HBO Max and Warner Bros. now?
Paramount completed its acquisition of WBD on October 6, 2026, after regulatory approvals and customary closing conditions. Paramount said WBD shareholders received $31.01666668 in cash per share. Paramount’s completion announcement confirms the closing and per-share consideration. The Associated Press reported the completed takeover as an $81 billion deal. The AP report gives that overall deal value.
Rank #2
How the Netflix proposal compares with the completed Paramount deal
| Item | Netflix proposal | Paramount acquisition |
|---|---|---|
| Buyer and status | Netflix proposed a deal on December 5, 2025; it was terminated on February 27, 2026. (Netflix; WBD filing) | Paramount completed its acquisition on October 6, 2026. (Paramount) |
| Assets | Warner Bros. film and television studios, HBO and HBO Max, following the planned separation of Global Networks. (Netflix) | WBD became part of Paramount’s combined portfolio. (Paramount) |
| Published value or consideration | Netflix stated approximately $82.7 billion enterprise value and $72.0 billion equity value for its original proposal. Its amended January 2026 offer was $27.75 per WBD share in cash, plus the value of the planned separation. (Netflix; Netflix) | Paramount reported $31.01666668 cash per WBD share at closing; AP reported the overall completed deal as $81 billion. These are different measures. (Paramount; AP) |
| Outcome | Netflix declined to match Paramount’s latest offer, and WBD terminated the agreement. WBD reported paying Netflix a $2.8 billion termination fee. (Netflix; WBD filing) | Acquisition completed. (Paramount) |
What does Paramount’s acquisition mean for HBO Max subscribers?
Paramount’s announcement confirms that WBD’s assets, including HBO Max, are part of the combined portfolio. The available completion announcement does not establish whether HBO Max will be rebranded, bundled with Paramount+, repriced or technically integrated with another service. Subscribers should not treat any of those changes as confirmed based on the acquisition alone.
Quick Recap
Best Value
- Informative DVD for classroom use
- Especially designed for educational purposes
- Uses catchy songs for reading and phonics
- Lets students progress at their own pace
- Recommended for ages 6 years and up
Rank #4
Rank #3
- 1000621690
Product prices and availability are accurate as of the date/time indicated and are subject to change. Any price and availability information displayed on Amazon at the time of purchase will apply.
