Captain America for Sale: $72 Billion

Photo by N I F T Y A R T

On 5 December 2025, Netflix announced it would buy Warner Bros — including the film studio, TV studio, HBO, HBO Max, and the entire DC Comics universe — for $72 billion. The deal is expected to close, despite interest from Paramount, in the third quarter of 2026.​

Everyone is talking about higher subscription fees, tighter political censorship, and monopoly. All of that matters, of course, but none of it is the main story.​

Dream factory as political institution

From its inception...