Multibillion-dollar deal announced: Netflix to buy Warner Bros. and HBO

It’s official: In a move that will dramatically reshape the entertainment business, Netflix and Warner Bros. Discovery announced an agreement Friday under which Netflix will acquire Warner Bros., including its film and TV studios, HBO Max and HBO.
The deal has a total enterprise value (including debt) of approximately $82.7 billion, with an equity value of $72 billion, the companies said. The announcement of Netflix’s deal to buy the Warner Bros. streaming and studios business came after a weeks-long bidding war that p