Netflix Acquires Warner Bros. for $82.7 Billion: Major Streaming Industry Shift

Netflix has announced its acquisition of Warner Bros. for $82.7 billion, merging the leading streaming service with a historic studio known for classics like 'Casablanca' and the 'Harry Potter' franchise, according to CBS News.

The deal, priced at $27.75 per share, is anticipated to close within 12 to 18 months, pending the spin-off of Warner Bros. Discovery's television networks division, Discovery Global. Analysts suggest this acquisition will significantly enhance Netflix's content creation capabilities and control over a vast library, solidifying its dominance in the streaming industry.

However, the merger raises concerns among industry insiders and lawmakers regarding potential anti-competitive practices and its impact on theaters and content creators. Critics, including Sen. Elizabeth Warren, have voiced apprehensions about the acquisition leading to higher prices for consumers and harming the theatrical market.

The deal has drawn mixed reactions, with some viewing it as a revitalization of the industry while others fear it represents a consolidation of power that could stifle competition, as reported by NBC News and ABC7 San Francisco.