Netflix has agreed an $83bn takeover of Warner Bros Discovery, handing it control of one of Hollywood’s most celebrated studios and creating a global entertainment powerhouse.
The deal will transform Netflix into the dominant player in Hollywood, capping its relentlessly disruptive rise since it was founded as a DVD rental company almost three decades ago.
Under the deal, Netflix will secure a coveted library of content including the Harry Potter and Batman franchises, WBD’s streaming business and the premium programming of HBO.
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