Netflix will buy Warner Bros for $72 billion, Warner has the rights to many famous films.

Netflix agreed to acquire Warner’s assets after nearly a week of bidding. Netflix bid approximately $28 per share for the assets, surpassing Paramount Skydance’s bid of approximately $24 per share.

Netflix has agreed to acquire Warner Bros. Discovery’s TV and film studios and streaming division. The deal is valued at $72 billion. This will give Netflix control of one of Hollywood’s most prestigious film studios. Netflix announced the deal on December 5th.

Netflix made a higher bid

Netflix agreed to acquire Warner Bros. Discovery’s assets after nearly a week of bidding. Netflix bid approximately $28 per share for the assets, which was higher than Paramount Skydance’s bid of approximately $24 per share. Warner Bros. Discovery’s stock closed at $24.5 on December 4th. This price values ​​the company at $61 billion.

Warner owns the rights to several popular films.

Warner owns several popular film franchises, including ‘Game of Thrones,’ DC Comics, and ‘Harry Potter.’ This deal will further strengthen Netflix’s position in Hollywood. Netflix already has a strong library of content. This deal will help Netflix compete with giant film companies like Walt Disney and Paramount. Analysts say Netflix wants to reduce its dependence on outside studios and is focused on acquiring long-term rights to content.

Netflix Seeks New Growth Avenues

Netflix is ​​looking for new avenues for growth after the success of its password-sharing model. The Warner deal will require approval from anti-trust regulators in Europe and the United States. This deal would give Netflix ownership of a rival company that owns assets like HBO Max, which has approximately 130 million subscribers.

Netflix’s position in Bollywood will be strengthened.

Paramount initiated the bidding war for Warner, considered close to the US government. Paramount has now questioned the bidding process that took place earlier this week. In a letter, it alleged bias against Netflix. Meanwhile, Netflix co-CEO Gren Peters said, “This acquisition will expand our offerings and accelerate our business for decades to come.”

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