Netflix has come to an agreement to purchase Warner Bros Discovery for a whopping $83 billion. What happens next is key in sealing that deal.

News broke that Netflix beat out Paramount Skydance and ComcastUniversal and came out on top in the bidding war for Warner Bros. with a deal that would unite some of the biggest properties in entertainment, HBO and Netflix, under one roof.

If completed, this merger will hand Netflix control over some of today’s hottest film franchises, including Harry Potter, Batman, Game of Thrones and others, and would suddenly hurl Netflix into the world of theatrical releases..

Indeed, this deal will need to be approved by both U.S. and European regulators before the ink can be applied to the contracts.

Warner Bros. is first set to split its publicly traded

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