Netflix to acquire Warner Bros Discovery's studios, streaming unit in $72 billion deal

Netflix has agreed to acquire Warner Bros Discovery’s TV and film studios along with its streaming division in a $72 billion deal. The move would place one of Hollywood’s oldest and most influential entertainment empires under the control of a streaming giant that has dramatically reshaped the industry, reported Reuters.

Kim Forrest, Chief Investment Officer at Bokeh Capital Partners, said it was striking that Netflix emerged as the winning bidder, especially as the focus is firmly on the streaming business, Netflix’s strongest domain.

However, she cautioned that the deal will face heavy scrutiny from regulators not only in the United States but globally.

This is a developing story. It will be updated. - Ends