Netflix agrees to $83bn takeover of Warner Bros Discovery

The purchase will see Netflix become the owner of the HBO network, along with a vast film and TV archive that includes Harry Potter and Friends

Warner Bros assets also include its sprawling studios in Burbank, California, along with a vast film and TV archive that includes Harry Potter and Friends. (Photo by Paul Drinkwater/NBCU Photo Bank/NBCUniversal via Getty Images via Getty Images)

Netflix agreed to buy Warner Bros Discovery in a historic combination, joining the world’s dominant paid streaming service with one of Hollywood’s oldest and most revered studios.

Under the deal announced on Friday, Warner Bros shareholders will receive $27.75 a share in cash and stock in Netflix. The total equity value of the deal is $72bn (€61.8bn), while the enterprise value of the deal is about $83bn (€71.2bn).