Netflix to Acquire Warner Bros. Entertainment Assets in $72 Billion Deal

Exterior of the Warner Bros. Discovery Atlanta campus on May 2, 2023. (Alyssa Pointer/ReutersStreaming giant Netflix said on Dec. 5 that it will purchase Warner Bros. Discovery’s streaming and entertainment assets, concluding an intensive bidding process.Netflix has agreed to acquire Warner Bros. Discovery’s film studio and streaming platform HBO Max in a landmark deal. As part of the transaction, Warner Bros. Discovery will move forward with the spinoff of Discovery Global, which houses a vast portfolio of pay-TV networks, including CNN and TNT.