Netflix Clinches Warner Bros. Deal as DC and Snyderverse Fans Clash Online

So, here is a whopper: multiple reports say Netflix has swooped in to buy Warner Bros. Discovery, including the film and TV studios and the HBO Max (now just Max) streaming service. Yes, that would also rope in the Snyderverse films. It is massive, it is messy, and a few of the numbers flying around are eyebrow-raisers.

What the reports are claiming

• Netflix has 'won the bid' to acquire Warner Bros. Discovery Inc.'s film and TV studios plus the HBO Max streaming service.
• The package reportedly includes rights tied to the Snyderverse films, which is why DC fans are suddenly very loud again.
• Netflix is said to have put a $5 billion breakup fee on the table if regulators block the deal.
• Other suitors in the mix: Paramount/Skydance and Comcast. The chatter is that Netflix beat them out.
• Analysts cited in the reporting peg a $30-per-share offer that would value Warner's equity around $75 billion.
• Combined, Netflix and Warner Bros. Discovery would have roughly 450 million subscribers worldwide, which is exactly the kind of stat that gets antitrust folks interested.
• To calm regulators, Netflix is reportedly pitching that bundling the services could actually lower prices for consumers.
• One number being tossed around is an $827 billion 'offering.' To put it gently: that figure does not line up with reality and reads like either a typo or a game of telephone. Treat that with caution.

Why Snyder fans are amped

Ever since James Gunn took over as DC Studios co-CEO and started rebooting the slate, a chunk of the fandom has been pushing to restore Zack Snyder's continuity. If Netflix ends up controlling Warner's film/TV assets and Max, some fans think that opens a door for Snyder to pick up where he left off. One viral post even resurfaced an old Snyder remark suggesting he would continue his saga if Netflix had the rights.

'Netflix has the chance to do the funnest thing ever.'

That sentiment was everywhere on X, with others chiming in that there is a 'high possibility' of a Snyderverse revival and asking, simply, 'SnyderVerse restored?'

The reality check

Even if Netflix has indeed won the bid, none of this is done until regulators sign off. That $5 billion breakup fee exists precisely because approval is not a slam dunk. Also, DC has already moved forward under Gunn with a rebooted universe. Owning the library rights and legacy films is one thing; rebooting an entire continuity that the current regime set aside is another. Could a deep-pocketed new owner fund one-off continuations or Elseworlds-style projects? In theory, sure. Is that the most likely outcome? Not really.

One more note to clear up a confusing bit: 'closing the deal' here is being used loosely. What's being described sounds like Netflix has emerged as the preferred buyer and is trying to finalize terms. Regulatory review is a separate, lengthy hurdle. Until that is done, nothing changes for subscribers or the DC slate.

Bottom line

If this framework is real, it would be one of the biggest entertainment shake-ups in years, and it comes with all the antitrust alarms you would expect from a combined base of roughly 450 million subscribers. Netflix is reportedly arguing that bundling could lower prices to make regulators feel better. Meanwhile, Snyder fans see a window that was not there yesterday. Just keep expectations in check: this is a long road, and a Snyderverse comeback remains a long shot even in the rosiest version of this deal.