New Delhi: Hollywood has been bracing for a reckoning, and Netflix may have just delivered it. The streaming giant has put forward an $82.7 billion offer to acquire Warner Bros Discovery, a deal that would fold HBO, Warner Bros, and a century of filmmaking history into Netflix’s global platform. The scale of the proposal is unmatched in the streaming era and has already triggered heavy political, industry, and regulatory attention.

What is the deal?

Under the proposal, Netflix would become the steward of Warner Bros’ vast catalogue, including major franchises such as the Harry Potter universe, DC characters, and properties tied to The Lord of the Rings, along with an extensive archive of classic films. HBO’s prestige programming, ranging from landmark dramas to long-running hits, wo

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