Netflix has agreed to buy the film and streaming businesses of Warner Bros Discovery for $72bn (£54bn) in a major Hollywood deal. The streaming giant emerged as the top bidder for Warner Bros ahead of rivals Comcast and Paramount Skydance after a drawn-out battle. Warner Bros owns franchises including Harry Potter and Game of Thrones, and the streaming service HBO Max. The takeover is set to lead to a radical reshaping of the US film and media industry, but analysts have warned that it could face resistance from competition authorities. Netflix will complete the takeover after Warner Bros finalises its previously announced plans to separate its streaming and studios division from its global networks division into two publicly traded companies next year. Tom Harrington, head of television at Enders Analysis, said it was hard to gauge whether the deal would win regulatory approval, but if it went through it would have a massive impact on cinema. Mr Harrington said there was likely to be "big reductions" in television and film output from a merged entity, which would lead to resistance to the move from parts of Hollywood and relevant unions. David Zaslav, president and chief executive of Warner Bros, added the agreement would combine "two of the greatest storytelling companies in the world". The acquisition of Warner Bros is expected to enable Netflix to expand its studio production capacity and increase its investment in original content.
BBQ - Do you think this potential move will be good for consumers?
