Netflix just bought Warner Bros. Discovery for more than $80 billion - but how will that acquisition change streaming for consumers? The two streaming services announced on Friday, December 5, that Netflix is gaining Warner Bros. with an equity value of $72 billion and enterprise value of $82.7 billion. "This acquisition brings 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 said in a press release.