Netflix announces proposed Warner Bros. acquisition with Wells Fargo advisory and financing roles

Netflix announced an agreement to acquire Warner Bros. studios, HBO and HBO Max after Discovery Global is separated. The proposed value was approximately USD 82.7 billion on an enterprise basis and USD 72.0 billion on an equity basis. Wells Fargo was an additional financial adviser to Netflix and, alongside BNP and HSBC, committed debt financing. This was an announcement of a proposed transaction; its later amendment and termination are retained as separate events.