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Netflix to acquire Warner Bros. Discovery for nearly $83 billion: statement

AFP
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Netflix to acquire Warner Bros. Discovery for nearly $83 billion: statement

The Netflix logo is seen at the Netflix Tudum Theater in Los Angeles, California, on September 14, 2022. (Source: AFP)

NEW YORK: Streaming giant Netflix will acquire film and television studio Warner Bros. Discovery for nearly $83 billion, the two US companies announced in a joint statement Friday.

The acquisition, which gives Netflix access to a vast film catalog as well as the prestigious streaming service HBO Max, is the largest consolidation deal in the entertainment industry since Disney's $71 billion acquisition of Fox in 2019.