The media world was turned upside down this week when Netflix announced its planned acquisition of Warner Bros for nearly $83 billion.
“Our mission has always been to entertain the world,” Ted Sarandos, co-CEO of Netflix, said in a statement on Friday. “By combining Warner Bros.’ incredible library of shows and movies—from timeless classics like Casablanca and Citizen Kane to modern favorites like Harry Potter and Friends—with our culture-defining titles like Stranger Things, KPop Demon Hunters and Squid Game, we’ll be able to do that even better. Together, we can give audiences more of what they love and help define the next century of storytelling.”
What’s Changing With Netflix Services?
The short answer is nothing.
“Nothing is changing today. Both streaming services will continue to operate separately. We have more steps to complete before the deal is closed, including regulatory and shareholder approvals,” the company said in the statement. “You’ll hear from us when we have more to share. In the meantime, we hope you’ll continue to enjoy watching as much as you want, whenever you want – all on your current membership plan.”
However, a price increase was viewed as “inevitable” in the next 12-to-18 months after the sale goes through.
Netflix Makes Another Subtle Move While Acquiring Warner Bros
While the media world was focused on the major news from Netflix, the streaming company was busy closing a separate deal.
Netflix finally concluded its purchase of the former Fort Monmouth U.S. Army installation in New Jersey, which it plans to invest $1 billion as it turns the 292-acre area into “a premier East Coast production hub” with “12 cutting-edge soundstages totaling nearly 500,000 square feet, with additional areas dedicated to supporting film uses and community amenities.”
“With this acquisition, we are excited to move forward with Netflix Studios Fort Monmouth—a state-of-the-art production facility that will bring new jobs and economic opportunities to New Jersey,” Anne Kelly, Netflix’s Vice President of Studio Management & Services said in a statement.
Netflix first announced interest in the location back in 2022. Construction is expected to start in 2026 and wrap up by 2028.
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