Netflix has announced plans to buy part of Warner Bros. Discovery in a $72 billion deal that could send shockwaves through the entertainment industry – especially for streaming services.

The acquisition will include WBD’s film and TV studios, HBO and HBO Max, potentially combining well over 400 million streaming subscribers and a massive library of content.

While Netflix and the HBO platforms will be run separately, a tie-up could bring Netflix smash-hits like “Stranger Things” and “KPop Demon Hunters” with WBD classics like “Harry Potter,” “The Sopranos” and “Friends” under one roof.

The deal – which has raised antitrust concerns – is expected to close after Warner Bros. spins off its Discovery Global business in the third quarter of 2026.

How will the deal impact streaming?

While

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