Netflix agrees to buy Warner Bros. and HBO Max

Mergers and Acquisitions - Warner Brothers Discovery is selling its streaming and studio assets to Netflix in a deal valued at nearly $83 billion [1] - The deal represents a major development, setting the stage for one of the most consequential mergers in Hollywood history [1] - The agreement, if approved, would unite the world's largest streaming platform with a film studio with over 100 years of history [1] - Other bidders included Paramount Skyans and NBC's parent company Comcast [2] Industry Impact - The merger is expected to cause a major shakeup in the media landscape [1]