That's all, folks.
In a deal worth $72 billion, Netflix announced Friday that it will be purchasing legendary Hollywood studio Warner Bros., home of huge films new and old such as "Superman," "Casablanca" and the "Harry Potter" franchise, as well as HBO, HBO Max and a host of iconic TV shows including "Game of Thrones," "The Sopranos" and "The White Lotus."
The deal comes at the end of a bidding war for Warner Bros. that included such media corporate giants as Paramount and Comcast, and will follow the separation of Warner from its cable TV business, Discovery Global, which includes Discovery Networks, CNN, TNT and others.
In a release Friday morning, Netflix says it will "maintain Warner Bros.’ current operations and build on its strengths," but questions are already swirling about what this deal means for two of the biggest names in Hollywood, and all the shows and films they produce that fans have come to love so dearly. The deal is also not a sure thing − all corporate acquisitions like this are subject to regulatory approval by the federal government.
Here's everything you need to know about the major merger, including how it could affect what you log in to watch on your TV every night.
