Netflix says it's struck a deal to buy Warner Bros. Discovery for $27.75 per share

Group 1 - Netflix has reached a deal to acquire Warner Bros. Discovery, concluding a competitive bidding process involving Paramount Skydance and Comcast [1] - The acquisition is valued at $27.75 per WBD share, leading to a total enterprise value of approximately $82.7 billion [1] - The deal includes WBD's film studio and streaming service, HBO Max, while WBD will still separate its TV networks, including TNT and CNN, as previously planned [2] Group 2 - The acquisition is expected to close after the separation of WBD's TV networks, anticipated in the third quarter of 2026 [2]