Netflix took its next step towards becoming one of the most dominant forces in the global entertainment industry on Friday by announcing its acquisition of Warner Bros, HBO and its streaming business HBO Max. The $82.7 billion deal will see the entertainment giant acquire the studio and streaming arm of Warner Bros. Discovery, following the latter company's earlier announcement this year that it's splitting in two . WBD is expected to spin off its Discovery business in the third quarter of 2026.

By acquiring Warner Bros., HBO and HBO Max, Netflix not only will boost its own catalog of shows and films -- which already includes big hitters such as Stranger Things, Wednesday and Squid Game, with Warner Bros. properties Harry Potter, Friends and Batman -- but will also see it play host t

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