DEVELOPING: Netflix Seals $72 Billion Deal for Warner Bros Film and Streaming Assets

Breaking News: Netflix Seals $72 Billion Deal for Warner Bros Film and Streaming Assets Netflix has agreed to buy the film and streaming businesses of Warner Bros Discovery for $72 billion, outbidding rivals Comcast and Paramount Skydance. The deal is worth $27.75 per Warner Bros share, with a total enterprise value of about $82.7 billion. The takeover is set to lead to a radical reshaping of the US film and media industry, with Netflix gaining control of Warner Bros' iconic franchises, including Harry Potter and Game of Thrones, as well as the streaming service HBO Max. Netflix co-chief executive Ted Sarandos says the deal will allow the company to give audiences more of what they love and help define the next century of storytelling. Warner Bros Discovery has been in the midst of a drawn-out battle for control, with Netflix emerging as the top bidder. The deal is expected to face resistance from competition authorities, but analysts say it could be a game-changer for the streaming giant. Netflix's other co-chief executive, Greg Peters, says the deal will allow the company to introduce Warner Bros products to a broader audience. David Zaslav, president and chief executive of Warner Bros, has confirmed the announcement. This is a developing story, and we will continue to bring you updates as more information becomes available.