The transaction is comprised of cash and stock and is valued at USD 27.75 per WBD share, the companies said. That puts the equity value of the deal at USD 72 billion, with a total enterprise value of approximately UDS 82.7 billion.

“I know some of you are surprised that we’re making this acquisition, and I certainly understand why. Over the years, we have been known to be builders, not buyers,” Netflix co-CEO Ted Sarandos said on an investor call Friday morning.

“We already have incredible shows and movies and a great business model, and it’s working for talent, it’s working for consumers, and it’s working for shareholders. This is a rare opportunity. It’s going to help us achieve our mission to entertain the world and to bring people together through great stories.”

The acquisition is expected to close after the TV networks separation takes place, now projected for the third quarter of 2026. The companies estimate that the transaction will close within 12 to 18 months.

Mediavision’s Principal Analyst Fredrik Liljeqvist commented on the news:

– There are still hurdles to overcome before the aqcusition can finalize. Even if it does, it is still unclear if HBO Max and Netflix will merge. HBO has a strong brand and the content they produce is very highly regarded. So that provides clear value for Netflix and their subscribers, of course.

Netflix + HBO Max would be twice as large as next competitor

Mediavision’s latest figures show that there are over six million households in the Nordics with a subscription to either HBO Max, Netflix or both. The second place in the Nordics is shared between HBO Max, Disney+, and Viaplay, all with around three million households each. A merger between Netflix and HBO Max would therefore create a service with twice the household penetration of its closest competitor, given today’s penetration levels.

– Today, Netflix is the clear market leader in the Nordics, while HBO Max shares second place with Disney+ and Viaplay. A merger would naturally have major consequences for both consumers and the market: an even stronger market leader with a substantial content offering. But there are still many steps before such a scenario could become reality, comments Fredrik Liljeqvist.

Hostile bid from Paramount

On Monday, Paramount Skydance launched an all-cash tender offer to acquire Warner Bros. Discovery (WBD) at USD 30 per share, valuing the media group at USD 108.4 billion.

The move directly challenges WBD’s previously announced agreement with Netflix, which would deliver USD 23.25 in cash plus stock valued at around USD 4.50 per share, while leaving WBD shareholders with an interest in a spun-off Global Networks business. Paramount’s proposal instead seeks to acquire the entire company.

“WBD shareholders deserve an opportunity to consider our superior all-cash offer for their shares in the entire company,” said David Ellison, chairman and CEO of Paramount.

Warner Bros. Discovery confirmed receipt of Paramount Skydance tender offer on Monday, stating they will “carefully review and consider Paramount Skydance’s offer in accordance with the terms of Warner Bros. Discovery’s agreement with Netflix”.

Starting today, age-restricted social media platforms must take steps to prevent Australians under the age of 16 from creating or maintaining an account. Australia is thereby the first country to implement a minimum age for social media use.

The restrictions aim to protect young Australians from the pressures and risks users may encounter on social media. These risks stem from design features that encourage extended screen time while also serving up content that can negatively affect health and well-being.

The platforms now subject to age restrictions are Facebook, Instagram, Kick, Reddit, Snapchat, Threads, Twitch, X, and YouTube. More than one million social media accounts held by users under 16 are set to be deactivated, marking the beginning of an expected global wave of regulation. In the Nordics, Denmark has followed suit, with the government announcing an agreement to ban access to social media for anyone under 15.

Research: Norway surpasses 6m streaming subs – Advanced Television

Danish linear TV hits all-time low as digital video captures 65% of viewing time – Senal News

Streaming driver nordisk tv-marknad mot nya höjder – Dagens Media

Spotifys nya drag: ”Tror på något annat” – SvD

Nya poddtrenden: Går över till video – ”Roligare” – Expressen

Spotify lanserar ljudböcker i Sverige – Dagens Industri

Traditional TV viewing in Sweden falls to less than a third of overall watch time – C21 Media

Social video takes 20% share as traditional TV hits record low in Sweden – Broadband TV News

Svenskarna tittar allt mindre på traditionell tv – Omni