It’s official. Warner Bros., which includes its film and television studios, HBO Max, and HBO, is becoming part of Netflix in the streamer’s largest acquisition in its history by some significant margin. It’s come after weeks of reports and speculation and various bidding rounds, with Netflix emerging victorious over rivals Paramount and Comcast, but there are many obstacles to overcome.

In a move that fundamentally reshapes the entertainment landscape and arguably concludes the Streaming Wars, Netflix has officially announced a definitive agreement to acquire Warner Bros., including its legendary film and television studios, HBO, and HBO Max.

The deal, announced overnight by Bloomberg and confirmed by Netflix this morning, values the transaction at approximately $82.7 billion and brin

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