iWorld
Netflix snaps up Warner Bros in $82.7 billion mega-deal
MUMBAI: Netflix has fired the biggest shot yet in the streaming wars, striking an $82.7 billion deal reflecting an equity value of $72.0 billion to acquire Warner Bros, the home of DC, Game of Thrones and The Wizard of Oz. Once the separation of WBD’s Global Networks division, Discovery Global, is completed in Q3 2026, the world’s largest streaming service will swallow one of Hollywood’s most storied studios whole.
The cash and stock takeover values Warner Bros Discovery at $27.75 a share and hands Netflix a century old catalogue of cultural gold, from Casablanca and Citizen Kane to Harry Potter and Friends, to bolster global hits including Stranger Things, Money Heist and Bridgerton.
Netflix co-chief executive Ted Sarandos promised an entertainment superpower capable of redefining the next century of storytelling. “Together, we can give audiences more of what they love,” he said.
Greg Peters, his fellow co chief, said the deal would supercharge Netflix’s creative engine, expand production muscle and widen global reach. Warner Bros, he added, comes with “phenomenal executives and capabilities” Netflix plans to scale further.
Warner Bros Discovery chief executive David Zaslav framed the move as a cultural safeguard. The tie up, he said, ensures Warner Bros’ greatest stories will thrill audiences “for generations to come.”
Netflix intends to keep Warner’s theatrical pipeline alive while folding HBO and HBO Max’s premium offering into a beefed up streaming proposition. Subscribers can expect more choice and fewer excuses to ever leave the sofa.
The combined group is targeting $2 billion to $3 billion in annual cost savings within three years. Shareholders are told to brace for accretive earnings as early as year two.
First, though, the corporate surgery. WBD must spin off its global networks arm, Discovery Global, into a separately listed company, housing brands such as CNN, TNT Sports, Discovery and the streaming service Discovery+, before regulatory approvals sign off. The transaction is expected to close in 12 to 18 months.
Hollywood’s tectonic plates are shifting fast. Netflix has not just acquired a studio, it has absorbed a legacy. The credits may not have rolled yet, but the sequel to streaming’s biggest battle just got a lot more interesting.
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iWorld
Netflix cuts jobs in product division amid restructuring
Layoffs hit creative studio unit as leadership and strategy shifts unfold.
MUMBAI: The streaming wars may be fought on screen, but the latest plot twist is unfolding behind the scenes. Netflix has reportedly begun laying off several dozen employees from its product division as part of an internal reorganisation, according to a report by Variety. The cuts are believed to have primarily affected the company’s creative studio unit, which works on marketing assets such as in app trailers, promotional visuals and live experience content for the streaming platform.
The company has not disclosed the exact number of employees impacted.
According to the report, the layoffs were not tied to employee performance. Instead, the restructuring eliminated certain roles while other employees were reassigned to different teams within the organisation.
The roles affected are understood to include designers, producers and creative specialists responsible for marketing and brand experience initiatives.
The job cuts come as Netflix adjusts its leadership structure and reshapes its product and creative teams. Last month, Elizabeth Stone was promoted from chief technology officer to chief product and technology officer, giving her oversight of product, engineering and data operations across the company.
Earlier, in December 2025, Netflix also appointed Martin Rose as head of creative for global brand and partnerships, a move seen as part of a broader restructuring of the company’s brand and product functions.
Despite the layoffs, Netflix remains one of the largest employers in the streaming sector. The company is estimated to employ around 16,000 people globally, with roughly 70 percent of its workforce based in the United States and Canada. In 2023, the company reported approximately 13,000 employees, indicating that its headcount had grown significantly before the latest restructuring.
The workforce changes arrive at a time when Netflix is navigating a shifting financial and strategic landscape in the global entertainment industry.
The streaming giant recently secured $2.8 billion in additional cash after receiving a breakup fee from Paramount Skydance following its withdrawal from a deal involving Warner Bros. Discovery.
Speaking to Bloomberg, Netflix co chief executive Ted Sarandos explained that the company had evaluated multiple scenarios during the negotiations but chose not to match the competing offer once it learned that a higher bid had been submitted.
Netflix had capped its offer at $27.75 per share and ultimately stepped back rather than pursue Paramount’s $111 billion acquisition deal, which included a personal guarantee.
Sarandos also cautioned that the financing structure behind the Paramount Skydance transaction could have ripple effects across the entertainment industry.
According to him, the debt heavy deal could trigger significant cost cutting, with David Ellison, chief executive of Paramount Skydance, expected to eliminate about $16 billion in costs and potentially cut thousands of jobs as part of the integration process.
For Netflix, the current restructuring appears to be part of a broader attempt to streamline operations while continuing to invest in product, technology and global content even as the streaming industry enters a new phase of consolidation and financial discipline.
