Warner Bros. To Be Bought By Netflix In $72 Bln Equity Deal

In a merger of majors, streaming video firm Netflix, Inc. is acquiring media and giant Warner Bros. Discovery, Inc. for a total enterprise value of approximately $82.7 billion, or an equity value of $72.0 billion. The move follows the planned separation of Warner Bros. Discovery's Global Networks division into a new publicly-traded company.In the pre-market activity, Netflix shares were losing around 4.1 percent to trade at $98.99, while Warner Bros shares were gaining 4 percent, at $25.56.In a statement, ...