Netflix to acquire Warner Bros. for $72b

Hollywood’s historic studio Warner Bros. is set to be acquired by the OTT platform Netflix.

For $72 billion, Netflix has agreed to buy Warner Bros. Discovery’s film and streaming businesses. Beating out Comcast and Paramount, Netflix secured the deal.

Warner Bros., the owner of major franchises such as Harry Potter and Game of Thrones, as well as the streaming service HBO Max, is one of the most influential names in the entertainment industry.

Once this agreement is finalized, Netflix is expected to become an even more powerful force in global entertainment.