"Two of the most popular streaming services have agreed to combine, in a move that could change the streaming service landscape. Netflix said Friday it will acquire the studio and streaming business of Warner Bros. Discovery, the legacy Hollywood giant behind Harry Potter and Friends, for $72 billion. The transaction is expected to close in the next 12 to 18 months after Warner completes its previously-announced separation of its cable operations. Not included in the deal are networks like CNN and Discovery."
"Netflix, based in Los Gatos, California, is the world's biggest streaming service, although its growth has slowed from peak years. It stopped giving specific subscriber numbers in 2024, but quarterly results in October signaled its worldwide subscriber count has increased from the roughly 302 million it had at the end of 2024. Although it is best known for its scripted TV shows and movies such as Stranger Things, Squid Game, Bridgerton, and KPop Demon Hunters, Netflix has been expanding into other arenas."
Netflix will acquire Warner Bros. Discovery's studio and streaming business for $72 billion, with the transaction expected to close in 12 to 18 months after Warner completes its cable separation. Networks such as CNN and Discovery are excluded from the deal. Netflix is the world's largest streaming service, with growth slowing from peak years and reported subscriber gains from roughly 302 million at the end of 2024. Netflix is known for scripted shows and movies and has expanded into ad-supported tiers, video games, and live sports. The acquisition adds major franchises and series including The Big Bang Theory, The Sopranos, Game of Thrones, The Wizard of Oz, and the DC Universe. Warner Bros. Discovery was formed three years ago after AT&T spun off WarnerMedia and merged it with Discovery Communications.
Read at www.mercurynews.com
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