Netflix said Friday that has entered in an agreement to buy Warner Bros. and HBO and HBO Max for $83 billion. The transaction is expected to close after the previously announced separation of WBD’s Global Networks division, Discovery Global, into a new public company set to be completed in the third quarter of 2023.
“Our mission has always been to entertain the world,” Ted Sarandos, co-CEO of Netflix, said in a statement Friday. “By combining Warner Bros.’ incredible library of shows and movies—from timeless classics like Casablancaand Citizen Kaneto modern favorites like Harry Potter and Friends—with our culture-defining titles like Stranger Things, KPop Demon Hunters and Squid Game, we’ll be able to do that even better. Together, we can give audiences more of what they love and help define the next century of storytelling.”
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