Netflix announced that it will purchase Warner Bros. Discovery in an $82.7 billion deal that includes Warner Bros. film studios, HBO and the HBO Max streaming service. Netflix defeated bids from Paramount Skydance and Comcast to secure the purchase, which must face 12 to 18 months of regulatory approval before closing. Netflix said it plans to keep HBO and HBO Max as separate entities while adding some HBO content to its own platform. WBD’s linear networks including CNN, TNT, HGTV and Discovery+ will spin off into a new public company in third quarter 2026. But the deal is already creating uncertainty for movie theaters and filmmakers. Netflix co-CEO Ted Sarandos said Friday that the company will continue to release WB movies in theaters, but the windows will likely get shorter. Theater owners say such a change could finally mark the end of their already-struggling business. (Story)
