Netflix acquires Warner Bros. and HBO Max in significant streaming agreement

Warner Bros. Discovery has confirmed that it will sell its studio and streaming operations, including HBO Max, to Netflix, pending clearance from federal regulatory authorities. This agreement paves the way for a massive merger, combining a century-old film studio with the world's leading streaming service.

The announcement follows Warner Bros. Discoverys prior plan to split the company into two divisions: one focused on entertainment and streaming, and another on news and sports. After revealing the intended division, the company began receiving unexpected acquisition offers. As a result, CEO David Zaslav decided to explore these opportunities and temporarily put the split on hold.

Author: Sophia Brooks