US-based OTT giant Netflix has agreed to acquire leading Hollywood studio Warner Bros in a deal worth $82.7 billion. The consolidation move brings together the world’s largest streaming platform with one of Hollywood’s most storied studios.

The acquisition includes HBO, HBO Max, Warner Bros’ film and television studios, and a vast content library, potentially altering the balance of power in global entertainment, said a Netflix press statement.

What the deal covers

The transaction will see Netflix take control of Warner Bros' key content divisions, including:

1) Warner Bros Motion Picture Group and Television Group

2) HBO and the HBO Max streaming service

3) A deep catalogue of films and TV shows, including several long-running franchises

Legacy linear TV assets and cable networks o

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