Streaming giant Netflix is buying another industry behemoth, Warner Bros, including its film and television studios, HBO Max and HBO. The deal has been announced and is valued at $72 billion.

In the bidding process for Warner Bros, Netflix outpaced rivals Comcast and Paramount Skydance.

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The Netflix takeover of Warner Bros will reshape the streaming world not just in the US, where these firms are based, but also worldwide.

“Today, Netflix, Inc. (the Company) and Warner Bros. Discovery, Inc. (WBD) announced they have entered into a definitive agreement under which Netflix will acquire Warner Bros., including its film and television studios, HBO Max and HBO. The cash and stock transaction is valued at $27.75 per WBD share, with a total enterprise value of approximately $82.7

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