Netflix set to buy Warner Bros. in deal valued at $83 billion
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Netflix announced Friday it’s reached a deal to buy pieces of Warner Bros. Discovery for more than $82 billion, bringing a swift end to a dramatic bidding process that saw Paramount Skydance and Comcast also vying for the legacy assets. The deal is for WBD’s film studio and streaming service, HBO Max, and it is expected to close in 12 to 18 months. Warner Bros. Discovery will still spin out its TV networks, which includes TNT and CNN, as previously planned. Read more: cnb.cx/3KEs2Bz | CNBC
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