Warner Bros. Games
Paramount has launched a hostile takeover bid for Warner Bros. Discovery, offering $30 per share—higher than Netflix's recent $27.5 per share deal. The move targets the entire company, including gaming studios like Rocksteady, NetherRealm, and Avalanche. This escalation could reshape the future of Warner Bros. Games amid ongoing industry consolidation.
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Netflix has revealed a $82.7 billion deal to acquire Warner Bros.' Streaming & Studios division, which includes Warner Bros. Games and its prominent studios behind titles like Mortal Kombat and Hogwarts Legacy. The acquisition, announced on December 5, 2025, is expected to close in 12-18 months pending regulatory approvals. This move brings major gaming IPs such as Batman: Arkham and Lego series under Netflix's umbrella amid the streamer's mixed history in gaming.