Netflix to buy Warner Bros Discovery's studios, streaming unit for $72 billion

Netflix has agreed to buy Warner Bros Discovery's TV and 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 that has upended the media industry. The agreement — announced on Friday — follows a weeks-long bidding war where Netflix seized the lead with a nearly $28-a-share offer that eclipsed Paramount Skydance's nearly $24 bid for the whole of Warner Bros Discovery, including the cable TV assets slated for a spinoff. Warner Bros Discovery shares closed at $24.5 on Thursday, giving it a market value of $61 billion. Buying the owner of marquee franchises including "Game of Thrones," "DC Comics" and "Harry Potter" will further tilt the power balance in Hollywood in favor of the streaming giant that built its dominance without major acquisitions or a large content library, helping its efforts to ward off competition from Walt Disney and the Ellison family-backed Paramount. Analysts have said Netflix is driven by a desire to lock up long-term rights to hit shows and films and relyWeiter zum vollständigen Artikel bei Korea Times Weiter zum vollständigen Artikel bei Korea Times