Core Insights - Netflix has agreed to acquire Warner Bros. Discovery's movie studio and streaming service for nearly $83 billion, with the deal expected to close after Warner Bros. Discovery spins off its cable division in Q3 of next year [2] - Warner Bros. Discovery shareholders will receive $27.75 per share upon completion of the deal [2] Stock Market Reactions - Netflix shares opened lower by less than 1% following the announcement, which is typical for acquiring companies due to the premium paid [3][4] - Warner Bros. Discovery shares rose about 3% but remained nearly 10% below the acquisition price, indicating skepticism about the deal's completion [5][9] - Shares of Paramount Skydance, Netflix's main competitor in the bidding war, fell by 5% [6][9] - Comcast, another bidder, saw its shares rise nearly 3% despite not being viewed as a serious contender [7] Regulatory Concerns - The White House and federal regulators have expressed opposition to the deal, citing concerns over Netflix's potential dominance in the streaming market [5] - Paramount Skydance has accused Warner Bros. Discovery of conducting an unfair bidding process, which may influence regulatory scrutiny [6] Impact on Related Companies - AMC Entertainment shares fell about 3%, with concerns that Netflix's streaming-first approach could alter Warner Bros. Discovery's theatrical strategy [8] - Cinemark shares dropped by 7% following the news [8]