Netflix stock sinks as the streaming giant reveals plans to buy Warner Bros. and HBO in $83 billion megadeal

Core Viewpoint - Netflix plans to acquire Warner Bros. for approximately $82.7 billion, marking a significant move in the entertainment industry [1] Company Summary - The acquisition reflects Netflix's strategy to expand its content library and strengthen its position in the competitive streaming market [1] - Warner Bros. is a legendary Hollywood studio, known for its extensive portfolio of films and television shows, which could enhance Netflix's offerings [1] Industry Summary - This deal signifies a trend of consolidation within the entertainment industry as companies seek to compete with larger players [1] - The acquisition could reshape the landscape of streaming services, potentially leading to increased competition and innovation [1]