Netflix does not own WB Games. Warner Bros. Discovery terminated its Netflix merger agreement on February 27, 2026, before the deal closed. Paramount completed its acquisition of Warner Bros. Discovery on October 6, 2026, under the combined Skydance company.
Did Netflix buy WB Games?
No. Netflix proposed to acquire Warner Bros. in December 2025, but the transaction never closed. WBD’s February 27, 2026, SEC filing says the company terminated its Netflix merger agreement after determining that Paramount Skydance had made a superior proposal. Netflix therefore acquired no WB Games studios or properties through that proposed purchase.
| # | Preview | Product | Price | |
|---|---|---|---|---|
| 1 |
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Mortal Kombat Legacy Kollection - Deluxe Edition - PlayStation 5 | $47.89 | Buy on Amazon |
| 2 |
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Mortal Kombat 11 Ultimate (PS4) | $22.49 | Buy on Amazon |
| 3 |
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ARCADE1UP Mortal Kombat II Deluxe Arcade Machine, 14 Games | $499.99 | Buy on Amazon |
| 4 |
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Mortal Kombat 1 - Nintendo Switch | $29.83 | Buy on Amazon |
| 5 |
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Mortal Kombat: Komplete Edition - Playstation 3 | $36.50 | Buy on Amazon |
What happened to Warner Bros. instead?
The deal changed hands before closing. Netflix said on February 26, 2026, that it would not raise its offer after WBD’s board found Paramount Skydance’s proposal superior. The following day, WBD terminated the Netflix agreement in connection with entering into the Paramount Skydance agreement. Netflix’s statement and the SEC filing document those steps.
Paramount announced that it completed the acquisition of Warner Bros. Discovery on October 6, 2026, creating the combined company Skydance. The company’s completion announcement confirms the closing; the Associated Press also reported the completed acquisition and described video games among the assets in the portfolio (AP report).
#1 Best Overall
- Multiple Iconic Editions: Experience the legendary origins of Mortal Kombat with the iconic arcade classics along with well loved home versions for Super NES and Sega Genesis. Dive deeper with rare and fan-favorite releases across Game Boy, Game Gear, Sega 32X, Game Boy Advance and more.
- Interactive Documentary: Deep behind-the-scenes content chronicles the history of the franchise, featuring exclusive new interviews with original MK developers Ed Boon, John Tobias, Dan Forden, John Vogel, and dozens more.
- Online Play: Engage in online battles enhanced by rollback netcode— engineered to preserve the precision of every attack, even with players across vast distances.
- The Full Story: Detailed character histories and timelines trace the epic narrative of Earthrealm, Outworld, and Edenia through the arcade era.
- No More Secrets: At the touch of a button, unlock all secret characters, change game settings, and access the buried developer menus to play the games your way.
What does the deal mean for WB Games?
WBD described its business as including interactive gaming in its SEC filing, and AP included video games in its account of the portfolio. That establishes gaming as part of the broader Warner Bros. Discovery business acquired by Paramount—not as a set of studios or franchises transferred to Netflix.
The available transaction announcements do not provide a definitive studio-by-studio inventory or explain the present legal and operational disposition of each WB Games studio or franchise after the close. It would be inaccurate to infer a specific current roster or claim that any individual studio was separately transferred based on these deal summaries alone.
Rank #2
- Includes Mortal Kombat 11, Kombat Pack 1, mk11: Aftermath & Kombat Pack 2.
- the definitive mk11 experience! Take control of earthrealm's protectors in the game's two critically acclaimed, time-bending story campaigns as they race to stop kronika from rewinding time and rebooting history.
- friendships are tested, and new alliances forged, in the battle to save all of existence. mk11 ultimate features the complete character roster, including new additions rain, mileena & Rambo.
- Mortal Kombat 11 showcases every amusing friendship, gory fatality and soul-crushing Fatal blow like never before. You'll be so close to the fight, you can feel it!
Where does Hogwarts Legacy fit?
A secondary source associates Hogwarts Legacy with Warner Bros. Games and Avalanche Software (GamesRadar guide). It is an example of a game associated with WB Games, not evidence that Netflix owns the title. The cited deal materials do not establish its present legal ownership or any post-closing operational changes.
Quick Recap
Best Value
- Note:The extra downloadable content is a bonus that a customer may or may not get.
- 49
Rank #4
- A New Universe - Discover a new beginning, as crafted by the Keeper of Time and protector of Earthrealm, Fire God Liu Kang.
- Origins Reimagined - Familiar characters return with all new intertwined histories, interacting in brand new ways.
- New Kameo Fighters - Choose from a unique roster of Kameo fighting partners to assist you in battle.
- Immersive Story Campaign - Fight through a brand new story featuring your favorite Mortal Kombat characters like you’ve never seen them before.
- The Ultimate Fighting Franchise Returns - The Fight for Earthrealm is upon us. This is Mortal Kombat.
Rank #3
- 14 Classic Games Included: Play Mortal Kombat I–3, Ultimate MK3, and 10 more retro hits like Rampage, Paperboy, and Gauntlet for nonstop arcade action
- Authentic Arcade Feel: Real-feel joysticks, responsive buttons, and dual speakers deliver a true arcade experience in the comfort of your home
- Crisp 17-Inch Display: BOE color monitor showcases every detail, from pixel-perfect punches to vibrant retro graphics, just like the original machines
- Wi-Fi With Multiplayer: Compete online with friends or players across the country using built-in Wi-Fi leaderboards and online multiplayer features
- Premium Cabinet Design: Over 5 feet tall with a sleek finish, light-up marquee, and molded faux coin door for a nostalgic look that stands out in any room
Timeline: the proposed Netflix deal and the completed acquisition
- December 5, 2025: Netflix and WBD announced a definitive agreement for Netflix to acquire Warner Bros. after a planned separation of Discovery Global. The announcement described the intended acquisition as Warner Bros.’ film and television studios, HBO Max, and HBO (Netflix announcement).
- February 26, 2026: Netflix said it would not increase its offer after WBD’s board determined Paramount Skydance’s proposal was superior (Netflix statement).
- February 27, 2026: WBD terminated the Netflix merger agreement in connection with its Paramount Skydance agreement (SEC filing).
- October 6, 2026: Paramount announced it had completed its acquisition of WBD and created the combined company Skydance (Paramount announcement).
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