Netflix has reached a groundbreaking agreement to acquire Warner Bros. Discovery's TV and film studios and streaming division for a staggering $72 billion, in a move that would give the streaming giant control of some of Hollywood’s most valuable and iconic assets, according to a report by .

The deal, announced on December 5, marks the conclusion of a competitive, weeks-long bidding war, with Netflix emerging victorious by offering nearly $28 per share — surpassing the nearly $24 bid from Paramount Skydance for the entire Warner Bros. Discovery portfolio, including its cable TV assets set for spinoff, as per the report. Advertisement

As of Thursday, Warner Bros. Discovery shares closed at $24.5, giving the company a market capitalization of $61 billion.

By acquiring Warner Bros. Disco

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