Warner Bros. Discovery Expands Global Streaming Empire with Strategic Acquisition of Turkey's BluTV

Warner Bros Discovery -2.34%

Warner Bros Discovery




Warner Bros. Discovery Inc (NASDAQ:WBD) has completed the acquisition of Turkish streaming service BluTV, a significant expansion in its streaming portfolio. The financial terms of the transaction remain undisclosed.

BluTV, Turkey's first local subscription video-on-demand (SVOD) service, has partnered with Warner Bros. Discovery for the past three years, during which WBD held a 35% stake in the company, the Variety reports. Since its inception in 2016, BluTV has experienced substantial growth in original content production and content library expansion. 

This growth led to the integration of Discovery+ on the platform in 2021.

In February, BluTV further enhanced its offerings by adding HBO content and kids channels, providing viewers access to popular channels like Cartoon Network and Cartoonito, along with acclaimed series such as "The Last of Us," "Game of Thrones," and "Sex and the City."

Also Read: Warner Bros. Discovery and Paramount Gain Analyst Support as Merger Talks Intensify

Jamie Cooke, GM CEE of the Middle East and Turkey at Warner Bros. Discovery expressed excitement about this new chapter, emphasizing Turkey's significance as an investment territory for over 20 years. 

He highlighted that the merger of Turkish content with Warner Bros. Discovery's international series and shows creates a unique blend, making it a strong contender in the local market and enhancing the global reach of Turkish content.

Deniz Şaşmaz Oflaz, CEO of BluTV, also shared enthusiasm for the acquisition, noting that BluTV's steady growth since its launch has led to it becoming a Warner Bros. Discovery brand. 

He stressed that the merger would create Turkey's most robust streaming platform by combining top local stories with global content, aiming to present the best Turkish narratives worldwide.

WBD held $2.38 billion in cash and equivalents as of September 30

Price Action: WBD shares traded lower by 1.41% at $11.53 on the last check Friday. 

Disclaimer: This content was partially produced with the help of AI tools and was reviewed and published by Benzinga editors.

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