In a historic and definitive move that signals a dramatic shift in the streaming wars, Netflix, Inc. and Warner Bros. Discovery, Inc. announced an agreement under which Netflix will acquire the core Warner Bros. film and television studios, alongside HBO and the HBO Max streaming service.
Valued at an astonishing $82.7 billion, this transaction brings together Netflix’s global reach and production power with Warner Bros.’ century-long legacy, which includes beloved franchises like “Game of Thrones,” “Harry Potter,” and the DC Universe. While the deal promises to simplify streaming choices for consumers and deliver a colossal combined library, subscribers should prepare for a significant waiting period before they can binge their favorite HBO titles on the Netflix platform.
When Can You Expect HBO Content on Netflix?
The immediate answer is: not right away. Despite the monumental announcement made today, the addition of content like “The Sopranos” or “The Big Bang Theory” to Netflix is tied to a complex, multi-stage process that involves regulatory approvals and a necessary corporate restructuring. The full library integration can only begin after the acquisition officially closes, a date projected to be over a year away. This timeline is crucial for managing subscriber expectations, as the deal is not instantly complete.
According to the official release, the closing of the acquisition is subject to two major preconditions. First, the deal must pass regulatory and antitrust review—a lengthy process for a transaction of this size and industry significance. Second, Warner Bros. Discovery must first complete the separation of its Global Networks division, an entity known as Discovery Global. This pre-closing corporate split, which involves major brands like CNN and TNT Sports, is expected to be finished in Q3 2026.
Once the separation is complete, the main transaction can proceed toward finalization. The acquisition is expected to close within a window of 12 to 18 months from the date of the announcement. This places the earliest likely integration of the full HBO and Warner Bros. library into the Netflix platform in late 2026 or the first half of 2027. Until then, the separate HBO Max service is expected to continue its current operations.
