Netflix, Warner Bros. and water tower
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Colleague or colonizer? Netflix swallows Warner Bros. Discovery, and the film industry has feelings.
Well, the colony got a lot bigger early Friday when it was announced that Netflix struck a deal to purchase Warner Bros. Discovery and its studio and streaming service, including HBO Max, for a cool $72 billion.
The letter comes amid reports of a likely hostile takeover of Warner Bros by Paramount Skydance Corp, just days after the company agreed to a deal with Netflix Inc.
For more than a century, the studio has developed era-defining films, supported innovation and created space for artists to explore creativity.