Netflix to buy Warner Bros Discovery for $72B
Photo: Variety
Netflix has reached an agreement to acquire Warner Bros Discovery's TV and film studios along with its streaming division for $72 billion, News.Az reports, citing Reuters.
This deal would place one of Hollywood’s most iconic and longstanding assets under the control of the streaming giant that has reshaped the media landscape.
Announced on Friday, the agreement comes after a weeks-long bidding contest.
Netflix emerged as the frontrunner with an offer of nearly $28 per share, surpassing Paramount Skydance’s bid of around $24 per share for Warner Bros Discovery, which included the cable TV assets planned for spinoff.
Shares of Warner Bros Discovery closed at $24.50 on Thursday, valuing the company at approximately $61 billion.
Similar news
