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.
Warner Bros. Discovery's shares rose 1.22% to $24.84 in premarket trading early on Friday.
Netflix will become a vastly bigger and different company once its deal to acquire Warner Bros. Discovery's studio and streaming businesses goes through.
Streaming giant Netflix will acquire Warner Bros. Discovery's studios and HBO Max platform in a cash-and-stock deal valued at $27.75 per WBD share.
Netflix has agreed to buy Warner Bros Discovery's TV and film studios and streaming division for $72 billion, a deal that would hand control of one of Hollywood's most prized and oldest assets to the streaming pioneer that has upended the media industry.
Netflix has agreed to buy Warner Bros Discovery's TV and film studios and streaming division for $72 billion.
Netflix is buying Warner Bros., adding HBO and major franchises like "Harry Potter" to its content slate.
Netflix has agreed a $72bn (£54bn) deal to secure Warner Bros Discovery's film and TV studios and supercharge its library through rights to top franchises including Harry Potter and Game of Thrones.
Netflix says it's struck a deal to buy Warner Bros. Discovery for $27.75 per share
Netflix has agreed to buy Warner Bros Discovery's TV and film studios and streaming division for $72 billion, a deal that would hand control of one of Hollywood's most prized and oldest assets to the streaming pioneer that has upended the media industry.
Bloomberg and Variety reported that Paramount Skydance has cried foul over the sales process, labeling it “tainted”. In a letter sent to Warner's CEO David Zaslav, Paramount's attorneys alleged that Warner's board had “embarked on a myopic process with a predetermined outcome that favors a single bidder,” refering to Netflix.
Move comes after the latest round of bids for the media company. Paramount and Comcast also made offers.