Netflix has announced an $82.7 billion agreement to acquire Warner Bros, a major Hollywood studio known for franchises like DC, Game of Thrones, and The Wizard of Oz. This deal, which will be completed after the separation of Discovery Global next year, marks a significant move in the ongoing competition among streaming platforms.

The acquisition values Warner Bros Discovery at $27.75 per share and gives Netflix access to a vast library of classic and popular titles, including Casablanca, Citizen Kane, Harry Potter, and Friends. These will join Netflix’s existing global hits such as Stranger Things, Money Heist, and Bridgerton.

Ted Sarandos, Netflix’s co-chief executive, described the merger as a way to create an entertainment powerhouse that could shape the future of storytelling. Greg Peters, also co-chief executive, said the deal would strengthen Netflix’s creative capabilities, increase production capacity, and broaden its international presence. He highlighted the value of Warner Bros’ experienced executives and resources.

David Zaslav, chief executive of Warner Bros Discovery, said the partnership would help preserve and share Warner Bros’ most iconic stories with audiences for generations. Netflix plans to maintain Warner Bros’ theatrical releases and integrate HBO and HBO Max content into an enhanced streaming service.

The combined company aims to achieve $2 billion to $3 billion in annual cost savings within three years and expects increased earnings for shareholders as early as the second year after closing. Before the deal is finalized, Warner Bros Discovery will spin off its global networks division, Discovery Global, which includes brands like CNN, TNT Sports, and Discovery+, into a separate publicly traded company. The transaction is expected to close in 12 to 18 months, pending regulatory approval.

This acquisition represents a major shift in the entertainment industry, as Netflix not only gains a leading studio but also inherits a rich legacy of film and television content.

Disclaimer: This article has been auto-generated from a syndicated RSS feed and has not been edited by Vitrina staff. It is provided solely for informational purposes on a non-commercial basis.