Netflix did not acquire Warner Bros. or HBO. The reported exclusive talks in December 2025 led to a definitive Netflix agreement, but Netflix withdrew in February 2026 after Paramount Skydance made a superior offer. Paramount completed its acquisition of Warner Bros. Discovery on October 6, 2026.
What happened to the Netflix deal?
In December 2025, Warner Bros. Discovery was reportedly in exclusive negotiations with Netflix. That report described an early stage of discussions, not a completed sale. On December 5, Netflix announced a definitive agreement to acquire Warner Bros., including its film and television studios, HBO Max, and HBO (Netflix’s announcement).
| # | Preview | Product | Price | |
|---|---|---|---|---|
| 1 |
![Best of Warner Bros. 50 Film Collection (BD) [Blu-ray]](https://m.media-amazon.com/images/I/51qrQaTrIWL._SL160_.jpg)
|
Best of Warner Bros. 50 Film Collection (BD) [Blu-ray] | $259.95 | Buy on Amazon |
| 2 |
|
Venture Bros.: Radiant is the Blood of the Baboon Heart (Blu-ray) | $10.89 | Buy on Amazon |
| 3 |
|
Maverick (BD) | $11.99 | Buy on Amazon |
| 4 |
|
Maltese Falcon, The (4K Ultra HD + Blu-ray) | $17.99 | Buy on Amazon |
| 5 |
|
WB 100th 25Film Collection Vol 1 Award Winners (Blu-ray) | $199.00 | Buy on Amazon |
A definitive agreement is not the same as a completed acquisition. Netflix withdrew from the deal in February 2026 after Paramount Skydance made a superior offer (Netflix’s withdrawal).
Who owns Warner Bros. and HBO now?
Paramount completed its acquisition of Warner Bros. Discovery on October 6, 2026. The Associated Press described the completed takeover as an $81 billion transaction and reported that Warner Bros. and HBO Max were among the assets brought under the combined company (Associated Press report).
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#1 Best Overall
- Factory sealed DVD
What Netflix had proposed to acquire
Netflix’s announced proposal covered Warner Bros.’ film and television studios, HBO Max, and HBO. Those were the proposed assets in the Netflix agreement, not assets Netflix ultimately acquired. The agreement did not close; Paramount’s acquisition did.
Quick Recap
Rank #4
- Item name: The Maltese Falcon
- Product type: PHYSICAL MOVIE
- Brand: WB
Rank #3
- Maverick [Blu-ray]
- PHYSICAL_MOVIE
- warner home video
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.
