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The Great Hollywood Reshuffle is here. Following the blockbuster Paramount-Skydance merger and Taylor Sheridan’s shocking move to Universal, we have news that makes both deals look miniscule in comparison. This Friday morning, Netflix announced plans to acquire Warner Bros. in an unprecedented deal valued at $82.7 billion. By fall 2026, when the acquisition is likely to complete, Netflix will own its former rival's historic film and TV studios, including the HBO library and the HBO Max streaming service.

“Our mission has always been to entertain the world,” said Ted Sarandos, co-CEO of Netflix, in a press release announcing the deal. “By combining Warner Bros.’ incredible library of shows and movies—from timeless classics like Casablanca and Citizen Kane to modern favor

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