Wake up, movie lovers and TV fanatics: Hollywood just got a whole lot smaller. On Thursday night, Bloomberg broke the news that Netflix and Warner Bros. Discovery had entered an exclusive deal for the streamer to buy the studio. This came after a weeks-long bidding war initially sparked by the news that Paramount Skydance was looking to buy Warner Bros. Discovery — after Paramount Skydance closed its own deal in August. Just hours later, on early Friday morning, the official announcements started to roll in: Netflix and Warner Bros. Discovery have entered into a definitive agreement under which Netflix will acquire Warner Bros., including its film and television studios, HBO, and HBO Max.
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