Netflix has entered into an agreement to acquire Warner Bros Discovery for $82.7 billion, which includes the publisher's video game developers and IPs.
This means that, should the deal go through, the ownership of Mortal Kombat team NetherRealm Studios, the Hogwarts Legacy developer Avalanche, and other outfits like TT Games and Rocksteady will be transferred to Netflix. IPs such as Harry Potter, DC, and Game of Thrones are all included in the deal.
In a statement posted to the Netflix website, it is said the acquisition will bring "together two pioneering entertainment businesses, combining Netflix’s innovation, global reach and best-in-class streaming service with Warner Bros.’ century-long legacy of world-class storytelling".
Netflix co-CEO Ted Sarandos added: "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."
From a video games perspective, there's no mention of what will happen to the developers currently under Warner Bros' wing. Despite the success of Hogwarts Legacy, the publisher's video game efforts haven't been all that successful, with notable failures to its name like Suicide Squad.