Netflix Buys Warner Bros. + HBO

Netflix has won a bidding war to purchase Warner Bros., including HBO.

The cash and stock transaction is valued at $27.75 per WBD share (subject to a collar as detailed below), with a total enterprise value of approximately $82.7 billion (equity value of $72.0 billion). The transaction is expected to close after the previously announced separation of WBD’s Global Networks division, Discovery Global, into a new publicly-traded company, which is now expected to be completed in Q3 2026.

Hayley Williams to Contribute to Netflix Film

Hayley Williams

Hayley Williams will contribute original music to the upcoming Netflix movie The Twits.

Williams added: “Being a part of this movie is like one pinch-me moment after another. My favorite Roald Dahl book growing up was The Twits. I’m drawn to learning about twisted characters like Mr. and Mrs. Twit and The Wormwoods from Matilda. The way Phil and Daisy adapted the original story was really exciting to me, as was the animation style. It feels like a cautionary tale — and also a really lovely depiction of chosen family and community, which is one of my favorite topics. I owe David Byrne for pulling me into the music for this. It was so fun and so surreal starting a song from scratch with him.”

What Went Wrong At Netflix?

Kim Masters, writing at Hollywood Reporter:

And now, back to the drama. Several important Netflix creators voice a very consistent theory about what’s gone wrong with the streamer’s culture. They see a link between Netflix’s problems and the 2020 fall of Cindy Holland, who played a key role in launching the service’s originals — brilliantly and often expensively — with House of CardsOrange Is the New Black and Stranger Things, among others.

These sources say Holland was the one who nurtured strong relationships with talent and took time to offer thoughtful development notes while still making people feel safe and supported in pursuing their passion projects.

Important multihyphenates who work or have worked with Netflix say it was Holland rather than Ted Sarandos, then chief content officer, who gave Netflix its profile as a home to buzzy, quality shows. (It was also Holland who warned Sarandos, to no avail, that continuing to order specials from one of his comedy heroes, Dave Chappelle, would lead to internal strife and bad press.)