Netflix has acquired Warner Bros. Discovery. This deal includes Warner Bros. Games, bringing NetherRealm, the developer of Mortal Kombat, and Rocksteady Studios, the developer of the Batman: Arkham series, under the Netflix umbrella.

On the 6th, Netflix announced via its official website that it has finalized a definitive agreement to acquire Warner Bros. Discovery. The transaction is valued at $82.7 billion (approximately 121 trillion KRW), involving a mix of cash and stock, and is expected to close following the completion of the Discovery Global spin-off. The spin-off is scheduled for the third quarter of 2026.

The acquisition includes Warner Bros. Games. Major studios under Warner Bros. Games include NetherRealm Studios, known for the 'Mortal Kombat' series, and Rocksteady Studios, which created the 'Batman: Arkham' series. Additionally, Avalanche Software, the developer of 'Hogwarts Legacy', TT Games, which manages the LEGO IP, and WB Games Montréal have also become part of Netflix.

In addition, Netflix will now own Warner's film and TV studios, HBO, and Max, alongside its existing streaming and studio divisions. This brings famous franchises such as 'Harry Potter', 'Game of Thrones', 'The Big Bang Theory', 'The Sopranos', and 'The White Lotus' to Netflix.

Meanwhile, Netflix has been accelerating its gaming business expansion since 2021. In 2023, the company appointed Alain Tascan, former VP of Game Development at Epic Games, as President of Games. Since then, it has been steadily releasing games utilizing major Netflix IPs such as 'Squid Game' and 'Stranger Things'.