The cash-and-stock deal would give the world’s largest paid streaming service expansive power over theater owners and entertainment-industry unions.

Netflix on Friday agreed to buy Warner Bros Discovery's TV, film studios and streaming division for $72 billion, a deal that would hand control of one of Hollywood's most prized and oldest assets to the streaming pioneer.

Netflix announced that it will acquire the HBO Max streaming service as well as the Warner Bros. film studio from Warner Bros. Discovery. The deal values the company at $27.75 per share, which implies a $72 billion equity valuation for the assets. The company will also assume $10.7 billion in net debt on Warner Bros. Discovery's balance sheet.

Netflix struck a deal to buy one of Hollywood’s most storied studios. But a scorned rival, and the Trump administration, may put up a fight.

Tech mogul Larry Ellison made a bold move to acquire Warner Bros. Discovery, but lost out to Netflix, setting the stage for a legal fight that could shape the future of Hollywood.

N etflix on Friday announced it had reached a deal to acquire Warner Bros.— including the company’s film and television studios and streamer HBO Max—for $82.7 billion, in move that follows a weeks-long bidding war in which the streaming giant beat out Paramount and Comcast.

Off will result in a historic merger between the streamer and one of the industry’s oldest studios—if federal regulators allow it.

Netflix, with over 300 million annual subscribers, announced Dec. 5 that it has entered into a definitive agreement with Warner Bros. Discovery Inc. in which it will acquire Warner Bros., HBO Max, and HBO.

Netflix and Warner Bros. Discovery agreed to a blockbuster deal. Here's what WBD CEO David Zaslav told his employees about the deal and what's next.

MAGA influencer Benny Johnson baselessly claimed that former President Barack Obama and former first lady Michelle Obama are “trying to take over all of media” amid Netflix’s plan to acquire Warner Bros. Discovery.