Netflix acquires Warner Bros., HBO Max for USD 82.7 billion

• Netflix is acquiring Warner Bros. and HBO Max in a deal valued at approximately USD 82.7 billion.
• The acquisition concludes a bidding war against competitors like Paramount Skydance and Comcast.
• Netflix plans to maintain Warner Bros.' current operations, including theatrical releases, and initially keep HBO Max as a separate service.
• The deal will integrate Warner Bros.' and HBO/HBO Max's extensive film and TV libraries into Netflix's content offerings.
• Netflix anticipates USD 2-3 billion in annual cost savings and expects the transaction to be accretive to earnings per share by year two.

Why It Matters: Netflix's acquisition of Warner Bros. and HBO Max expands content, reshaping streaming.