Netflix To Buy Warner Bros Discovery's Studios, Streaming Unit For $72 Billion
HuffPost
The agreement follows a weeks-long bidding war for the storied company.
Dec 5 (Reuters) - Netflix has agreed to buy Warner Bros Discovery’s TV and film studios and streaming division for $72 billion, a deal that would hand control of one of Hollywood’s most prized and oldest assets to the streaming pioneer that has upended the media industry.
The agreement — announced on Friday — follows a weeks-long bidding war where Netflix seized the lead with a nearly $28-a-share offer that eclipsed Paramount Skydance’s nearly $24 bid for the whole of Warner Bros Discovery, including the cable TV assets slated for a spinoff.
Warner Bros Discovery shares closed at $24.5 on Thursday, giving it a market value of $61 billion.
Deal Set To Reshape Media Landscape
Buying the owner of marquee franchises including “Game of Thrones”, “DC Comics” and “Harry Potter” will further tilt the power balance in Hollywood in favor of the streaming giant that built its dominance without major acquisitions or a large content library, helping its efforts to ward off competition from Walt Disney and the Ellison family-backed Paramount.
The president's holiday-like fantasy is getting roasted by critics.
The case had frustrated authorities for years as they had failed to identify the person responsible for placing the bombs.
Sydney Sweeney entered the Fox News conversation that came to an eye-rolling conclusion.
The lawsuit accuses the Defense Department of violating reporters' First Amendment rights.
“It’s become quite a messy and toxic situation,” a Eurovision expert said.
The Duke of Sussex jabbed the president during a Hallmark-inspired comedy bit with host Stephen Colbert.
The illustrated image is... something.
“These are serious charges, and that’s the reason we’re going to have special oversight,” said Sen. Roger Wicker, the Republican chair of the Senate Armed Services Committee.
The network's senior medical analyst put an inventive twist on the president's drowsy appearance during his Cabinet meeting.
Many blasted the House minority leader's reaction to Trump pardoning a Democrat who was indicted on charges of bribery and acting as a foreign agent.
The Pentagon knew there were survivors after a September attack on an alleged drug boat in the Caribbean Sea and the U.S. military still carried out a follow-up strike.
In a deal with federal prosecutors entered Tuesday, former Florissant Officer Julian Alcala pleaded guilty to 20 counts of willfully depriving someone of their right to be free from unreasonable search and seizure.
The initial findings ramp up the pressure on the former Fox News Channel host after lawmakers had called for the independent inquiry into his use of the commercially available app.