Under a newly announced $72 billion deal, Netflix will buy Warner Bros.’ studio and streaming business, according to the Associated Press.
The acquisition will join two of the largest players in film and TV. Warner owns HBO Max and DC Studios.
The cash and stock dsteal is valued at $27.75 per Warner share, bringing the total enterprise value to roughly $82.7 billion.
The transaction is set to close after Warner separates its Discovery Global cable operations into a new publicly-traded company in the third quarter of next year.
