CNBC's 'Squawk Box' crew and David Faber report on the latest news from Warner Bros. Discovery and Netflix.

Steaming service now in exclusive talks over deal that would change film and TV landscape

The streaming giant has emerged as the top bidder ahead of rivals Comcast and Paramount Skydance, reports say.

CNBC's 'Squawk Box' crew and David Faber report on the latest news from Warner Bros. Discovery and Netflix.

The agreement follows a weeks-long bidding war for the storied company.

Netflix announced it's reached a deal to buy WBD, bringing a swift end to a dramatic bidding process that also involved Paramount Skydance and Comcast.

Here are five key things investors need to know to start the trading day.

Rich Greenfield, LightShed Partners co-founder, believes the economics of the transaction are likely to weigh on Netflix before they help in the long term.

Jeff Kilburg on how he's trading the uncertainty around the Netflix Warner Bros. purchase.

Critics say the deal would create less competition in Hollywood and limit choice for consumers.

The acquisition, which will face regulatory scrutiny by the Trump administration, gives Netflix access to a vast film catalog and the HBO Max streaming service.