Image Credit: SOPA Images/LightRocket via Gett Acquisitions and mergers have become the norm in the entertainment industry in recent years. After Skydance Media acquired Paramount earlier this year, Netflix announced it reached a deal to acquire Warner Bros. Discovery, which owns HBO and HBO Max, in December 2025. So, does this mean HBO Max subscribers should expect an increase in prices soon? Below, Hollywood Life unpacks how the Warner Bros.-Netflix deal could impact HBO Max subscribers. Did Netflix Buy Warner Bros? Yes, Netflix announced its deal with Warner Bros.