• Netflix is acquiring Warner Bros. for £54 billion, pending competition authority approval • Warner Bros.’ library, including Harry Potter, DC franchises, and HBO content, will enhance Netflix’s offerings • HBO and HBO Max expected to operate independently, while expanding the synergy of streaming content for users

Netflix has agreed to buy Warner Brothers’ film, television and streaming businesses for £54 billion ($72 billion), in a monumental deal.

The streaming service managed to fend off advances from rivals Comcast and Paramount Skydance, following a drawn-out bidding war between the entertainment giants.

Of the merger, Warner Bros. president and chief executive David Zaslav described the agreement as a coming together of ‘two of the greatest storytelling companies in the worl

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