Netflix intends to purchase the film and streaming assets of Warner Bros. With a value of 72 billion dollars

Netflix It announced Friday that it had reached an agreement to purchase warner Bros Discovery, This brings a quick end to the exciting bidding process that has been witnessed Paramount Skydance and Comcast It also competes for legacy assets.

The deal consists of cash and stock and is worth $27.75 per WBD share, the companies said. This brings the total enterprise value of the deal to approximately US$82.7 billion, with an equity value of US$72 billion.

Netflix will acquire WBD’s film studio and streaming service, HBO Max. Warner Bros. will move on. Discovery has moved ahead with its spinoff from Discovery Global, which includes its massive portfolio of pay-TV networks, such as TNT and CNN, as previously planned.

The blockbuster deal brings together streaming giant Netflix, which has upended the media industry in recent years, and film studio Warner Bros. Known for its library including “The Wizard of Oz,” the “Harry Potter” series, and the DC Comics universe that includes Superman and Batman. It will also add HBO Max content, including “The Sopranos” and “Game of Thrones.”

“Our mission has always been to entertain the world,” Netflix co-CEO Ted Sarandos said in a press release on Friday. “By combining Warner Bros. An amazing library of shows and movies — from timeless classics like Casablanca and Citizen Kane To modern favorites like Harry Potter and friends-With our culture-specific nicknames like SStrange things, Demon hunters in kpop and Squid gameWe will be able to do it better. “Together, we can give audiences more of what they love and help define the next century of storytelling.”

The acquisition is expected to close following the separation of the television networks, now expected in the third quarter of 2026.

Netflix shares fell about 3% in premarket trading on Friday. Shares of the newly combined Paramount Skydance fell about 2%, while WBD shares fell about 1% and Comcast shares were flat.

As part of the deal, every Warner Bros. shareholder will receive… Discovery will receive $23.25 in cash and $4.50 in Netflix common stock for each share of WBD common stock outstanding after the closing of the transaction.

Disclosure: Comcast is the parent company of NBCUniversal, which owns CNBC. Versant will become the new parent company of CNBC based on Comcast’s planned spin-off of Versant.

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