Netflix announces deal to acquire Warner Bros. and HBO
Stockholm, December 6 (Hibya) – Netflix has won the bidding war for Warner Bros. and HBO, announcing a deal that could merge two of the largest streaming platforms with one of Hollywood’s biggest traditional film and television studios.
If the deal goes through, it would radically transform Hollywood at a critical moment for the entertainment industry. It would give Netflix control of some of the sector’s most valuable intellectual properties, including Batman, Harry Potter and Game of Thrones, and put under its authority the studio that has drawn more moviegoers this year than any other — a remarkable shift for a company that historically has had little connection to cinemas.
But first, the deal will face intense regulatory scrutiny in the United States and other countries.
Netflix announced the blockbuster agreement with Warner Bros. Discovery on Friday morning. The company agreed to acquire the legendary TV and film studio — along with assets such as the HBO Max streaming service — for 72 billion dollars, financed partly through debt.
The announcement sent shockwaves through Hollywood and upended expectations about the future direction of Warner Bros. Discovery, which is also the parent company of CNN.
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