Netflix acquires Warner Bros Films & streaming in $82.7 BILLION mega deal

Netflix to buy Warner Bros. film and streaming assets in $72 billion deal https://share.google/Bw1zktBfRJVWEsAbX

Netflix announced Friday it's reached a deal to buy pieces of Warner Bros. Discovery, bringing a swift end to a dramatic bidding process that saw Paramount Skydance and Comcast also vying for the legacy assets.

The deal is for WBD's film studio and streaming service, HBO Max. Warner Bros. Discovery will still spin out its TV networks, which includes TNT and CNN, as previously planned.

The acquisition is expected to close in 12 to 18 months.

The transaction is comprised of cash and stock and is valued at $27.75 per WBD share, the companies said. That puts the equity value of the deal at $72 billion, with a total enterprise value of approximately $82.7 billion.