Netflix's $83bn Warner Bros Coup: How It Outplayed Hollywood

• Netflix acquired Warner Bros. and its parent assets for $83 billion, significantly reshaping Hollywood's traditional studio landscape.
• The acquisition grants Netflix access to Warner Bros.' valuable franchises like Harry Potter, Batman, DC Comics, and HBO content, enhancing its library and theatrical ambitions.
• Netflix won a six-week auction against rivals like David Ellison's Paramount-backed bid and Comcast, with its readiness and finalized terms being key factors.
• Warner Bros. CEO David Zaslav is expected to retain control of the studio under Netflix ownership, a notable outcome for him.
• The deal faces potential antitrust scrutiny and backlash from the creative community concerned about the future of theatrical releases.

Why It Matters: Netflix's Warner Bros takeover upends Hollywood's century-old studio system.