"Netflix, already the largest streaming platform with over 325 million subscribers, took a bold step by acquiring Warner Bros. ' film and television studios, as well as HBO, HBO Max, and other assets. The deal, announced in early December, will bring together some of the most legendary franchises, such as Game of Thrones, Harry Potter, and DC Comics properties, among others, all under one roof."
"This all started back in October when Warner Bros. Discovery (WBD) revealed it was exploring a potential sale after receiving unsolicited interest from several major players in the industry. For years, WBD has struggled under the weight of billions of dollars in debt, compounded by declining cable viewership and fierce competition from streaming platforms. These financial pressures forced the company to consider major strategic changes, including selling its entertainment assets to one of its rivals."
Netflix acquired Warner Bros. film and television studios, HBO, HBO Max, and other assets, combining franchises like Game of Thrones, Harry Potter, and DC Comics properties. Warner Bros. Discovery explored a potential sale after receiving unsolicited interest amid billions of dollars in debt, declining cable viewership, and competition from streaming platforms. Paramount and Comcast emerged as major bidders, with Paramount offering approximately $108 billion to buy the entire company. Netflix focused its offer on the film, television, and streaming assets and amended to an all-cash proposal at $27.75 per WBD share. The deal is expected to significantly disrupt Hollywood.
Read at TechCrunch
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