# NETFLIX INC (NFLX) — merger/unsolicited [pending]
Source: SEC API (secapi.ai) · situation sit_553ed45142af33b620e4 · retrieved 2026-08-11T15:49:12.579Z

## Overview
Netflix is a video streaming and entertainment company that produces and distributes movies and television content to subscribers globally.

Netflix announced an $83 billion deal to acquire Warner Bros. Discovery's movie and television business. The transaction, announced approximately six weeks before this filing, has faced significant opposition from Hollywood stakeholders and Paramount, which launched a hostile bid for all of Warner Bros. Discovery. Netflix co-CEO Ted Sarandos stated the combined company would release more movies together than separately and forecast growth in content spending. The deal requires stockholder and regulatory approvals, including approval from the Trump administration.

## Terms
- Counterparty: Warner Bros. Discovery, Inc. · Deal value: $83.00B · Price/share: $27.75

## Key dates
- Announced 2026-01-06

## Timeline
- 2026-01-06 · 425 (0001193125-26-003019): 425 - NETFLIX INC — *Netflix is a streaming entertainment company that provides on-demand video content to subscribers globally.* Netflix, Inc. announced a proposed merger with Warner Bros. Discovery, Inc. to combine two complementary entertainment businesses and deliver enhanced choice and value to fans worldwide. The transaction is expected to create significant synergies by combining Netflix's streaming platform with Warner Bros.' content production and distribution capabilities. The merger is subject to customary closing conditions, including stockholder approval of WBD and regulatory approvals.
  https://www.sec.gov/Archives/edgar/data/1065280/0001193125-26-003019.txt
- 2026-01-07 · 425 (0001193125-26-005423): 425 - NETFLIX INC — *Netflix is a video streaming and entertainment company that produces and distributes series, films, and other content to audiences globally.* Netflix will acquire Warner Bros. Discovery, including its film and television studios, HBO Max and HBO, in a cash-and-stock transaction valued at $27.75 per WBD share, with a total enterprise value of approximately $82.7 billion (equity value of $72.0 billion). The transaction was announced December 5, 2025, and is expected to close in 12–18 months from the original agreement date. The financing structure is not subject to CFIUS review, and the transaction preserves the planned separation of WBD's Global Linear Networks business, Discovery Global, which is expected to be completed in Q3 2026.
  https://www.sec.gov/Archives/edgar/data/1065280/0001193125-26-005423.txt
- 2026-01-15 · 425 (0001193125-26-013283): 425 - NETFLIX INC — *Netflix, Inc. is a video streaming and entertainment services company that produces and distributes original content, films, and television series to subscribers globally.* Netflix, Inc. announced a proposed transaction to acquire Warner Bros. Discovery, Inc. (WBD). As part of the transaction structure, WBD will spin off a newly formed subsidiary prior to the closing. Netflix intends to file a Form S-4 registration statement that will include a prospectus regarding Netflix common stock to be issued in the transaction and a proxy statement for WBD stockholders. WBD will also file a proxy statement and a registration statement for the subsidiary to be spun off. The transaction is subject to stockholder approval and regulatory clearances.
  https://www.sec.gov/Archives/edgar/data/1065280/0001193125-26-013283.txt
- 2026-01-16 · 425 (0001193125-26-015348): 425 - NETFLIX INC — *Netflix is a video streaming and entertainment company that produces and distributes movies and television content to subscribers globally.* Netflix announced an $83 billion deal to acquire Warner Bros. Discovery's movie and television business. The transaction, announced approximately six weeks before this filing, has faced significant opposition from Hollywood stakeholders and Paramount, which launched a hostile bid for all of Warner Bros. Discovery. Netflix co-CEO Ted Sarandos stated the combined company would release more movies together than separately and forecast growth in content spending. The deal requires stockholder and regulatory approvals, including approval from the Trump administration.
  https://www.sec.gov/Archives/edgar/data/1065280/0001193125-26-015348.txt

## Citations
- 0001193125-26-003019 — https://www.sec.gov/cgi-bin/browse-edgar?action=getcompany&type=&dateb=&owner=include&count=40&search_text=000119312526003019
- 0001193125-26-005423 — https://www.sec.gov/cgi-bin/browse-edgar?action=getcompany&type=&dateb=&owner=include&count=40&search_text=000119312526005423
- 0001193125-26-013283 — https://www.sec.gov/cgi-bin/browse-edgar?action=getcompany&type=&dateb=&owner=include&count=40&search_text=000119312526013283
- 0001193125-26-015348 — https://www.sec.gov/cgi-bin/browse-edgar?action=getcompany&type=&dateb=&owner=include&count=40&search_text=000119312526015348