In a staggering piece of news this Friday, streaming giant Netflix has announced that it has entered an agreement with Warner Bros. Discovery to acquire Warner Bros. in a deal that's valued at roughly $82.7 billion — an equity value of $72 billion.

Netflix is specifically acquiring Warner Bros.' Streaming & Studios company, which it created in June 2025 and includes including Game of Thrones , the DC Universe, Harry Potter , Lord of the Rings , and platforms such as HBO and HBO Max and Warner Bros. Games.

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The media company doesn't mention WB's gaming division at all in its press release. However, Game Developer has confirmed with a WB spokesperson that "the recently-restructured video game division... will be joining Netflix

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