Netflix announces acquisition of Warner Bros

Netflix has announced the biggest media deal of the year.

The streaming platform, that was launched back in 1997 but rose to global prominence in 2010s, has acquired the Warner Bros.

The platform struck the landmark deal to acuire WBD’s entertainment assets, a move that will reshape the future of media consumption and online streaming.

With this deal, iconic brands like HBO, Warner Bros., and DC Comics are all under one umbrella, Netflix.

The company plans to merge all major content inorder to avoid multiple subscriptions.

WBD chose the company for its $30 per share valuation for the studio and streaming assets, as per The Wrap.

The deal has been finalised at approximately $82.7 billion, with an equity value of $72 billion. The valuation also includes debts.

Netflix took Instagram to announce the news in a post writing “Today, Netflix announced our acquisition of Warner Bros. Together, we’ll define the next century of storytelling, creating an extraordinary entertainment offering for audiences everywhere.”

The news has received mix reactions as the impact of this will be massive.