FILE - A visitor walks past portraits of DC Comics superheroes as she enters the "Action and Magic Made Here" interactive experience at the Warner Bros. Studio Tour Hollywood media preview on June 24, 2021, in Burbank, Calif. (AP Photo/Chris Pizzello, File)
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Netflix has struck a deal with Warner Bros. Discovery to buy the legacy Hollywood giant’s studio and streaming business for $72 billion. The merger, announced Friday, would bring two of the industry’s biggest players in film and TV under one roof. Beyond its namesake television and motion picture division, Warner owns HBO Max and DC Studios. And Netflix has rose to dominance as a household name ubiquitous to on-demand content, while building of its own production arm to release popular titles like “Stranger Things” and “Squid Game.” The cash and stock deal is valued at $27.75 per Warner share, giving it a total enterprise value of approximately $82.7 billion.
