Netflix made no major announcements on December 21, 2025. The focus remains on its proposed acquisition of Warner Bros. Discovery (WBD) film and television studios.
On December 17, Netflix’s bid gained crucial support. The WBD Board of Directors officially recommended stockholders approve the merger agreement. The board simultaneously urged shareholders to reject a rival offer from Paramount Skydance, stating the Netflix deal is superior and offers a more certain path for long-term value.
This endorsement marks a key milestone in the potential $82.7 billion transaction. Netflix first announced the deal on December 5. The acquisition still requires regulatory and shareholder approval, with an expected closing timeline of 12 to 18 months.
Separately, Netflix’s co-CEOs addressed employees on December 15. In a letter, they reiterated their commitment to theatrical releases for films post-acquisition. This move aims to alleviate concerns within the entertainment industry.