Netflix streaming services will now join CNN, HBO Max, Major League Baseball, DC Studios, the Food Network and HGTV, to name just a few.
Netflix announced Friday morning it struck a deal with Warner Bros. to purchase the storied film studio for $82.7 billion, a potentially major acquisition that shook the film and television industries.
Netflix ( NASDAQ:NFLX ) has officially clinched the blockbuster bidding war for Warner Bros.
Larry Ellison and his son, David, own Paramount, which wanted to buy Warner Bros. Discovery.
Netflix will maintain its short theatrical movie runs despite acquiring the Warner Bros. studio. Co-CEO Ted Sarandos confirmed Netflix's focus on streaming over long exclusive theater windows.
The acquisition will see massive franchises including Harry Potter and Friends brought into the same portfolio as Stranger Things and Squid Game.
The Trump administration has "heavy skepticism" about the newly announced $72 billion deal for Netflix to acquire Warner Bros. Discovery's film and streaming assets.
The bidding war for Warner Bros. Discovery (WBD) is officially over, as the entertainment giant and Netflix (NFLX) announced an $83 billion deal Friday.
Netflix Inc (NASDAQ:NFLX, XETRA:NFC) and Warner Bros Discovery Inc (NASDAQ:WBD, XETRA:J5A) announced an agreement under which Netflix will acquire Warner Bros, including its film and television studios, HBO Max, and HBO, in a transaction valued at approximately $82.7 billion. The deal combines Netflix's global streaming platform with Warner Bros' film and television operations and legacy franchises.
In one of the most groundbreaking deals the streaming world has ever seen, Netflix announced on Friday its acquisition of Warner Bros. with an enterprise value of $82.7 billion.
Netflix defended its acquisition of Warner Bros. as a strategic and informed move.
Netflix Co-CEOs Ted Sarandos and Greg Peters sought to reassure investors that their game-changing deal with Warner Bros. Discovery won't become another media business fiasco.