It’s only been a day since Netflix announced an $82.7 billion deal to acquire Warner Bros., and the acquisition has already been described as sending Hollywood into “full-blown panic mode,” “possibly a death blow to theatrical filmmaking,” and maybe even “the end of Hollywood” itself.

The people and industry have spoken: Netflix potentially buying Warner Bros. for $83 million is pretty bad!

The bidding war is over, and Netflix has been declared the winner.

After flirting with Paramount Skydance and Comcast, Warner Bros. Discovery (WBD) has decided to sell its streaming and movie studios business to Netflix. If approved, the deal is set to overturn the media landscape and create ripples that will affect Hollywood for years.

$72 billion acquisition

Netflix will pay an equity value of $72 billion, or an approximate total enterprise value of $82.7 billion, for Warner Bros. All of WBD has a $60 billion market value, NBC News notes.

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Netflix has struck a definitive $82.7 billion deal to acquire Warner Bros. and the full HBO catalog, marking the largest streaming merger since Disney bought Fox.

The post Netflix is buying Warner Bros. and HBO for $82.7 billion, and it could help you save money appeared first on Digital Trends.

The streaming giant has emerged at the top of the pile after the bidding war for Warner Bros., in a deal that could change the balance of power in Hollywood forever.