Netflix has announced that it has entered a “definitive agreement” to acquire Warner Bros. -- including its film and television studios, HBO Max and HBO -- in a deal valued at approximately $83 billion, according to the company.

"This acquisition brings together two pioneering entertainment businesses, combining Netflix’s innovation, global reach and best-in-class streaming service with Warner Bros.’ century-long legacy of world-class storytelling," Netflix said in the statement released Friday morning.

"Beloved franchises, shows and movies such as The Big Bang Theory, The Sopranos, Game of Thrones, The Wizard of Oz and the DC Universe will join Netflix’s extensive portfolio including Wednesday, Money Heist, Bridgerton, Adolescence and Extraction, creating an extraordinary entertainment

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