Netflix announces plans to acquire Warner Bros. Discovery's film and television production companies and streaming businesses for $72 billion.

Netflix has agreed to acquire the television and film production companies and streaming division of Warner Bros. Discovery for $72 billion. This deal will make the streaming pioneer, which has disrupted the media industry, control one of Hollywood's most valuable and longest-standing assets. The agreement was announced on Friday, following weeks of bidding wars, with Netflix emerging as the winner with a bid of nearly $28 per share - significantly higher than Paramount's all-cash acquisition offer, which included the cable TV assets of Warner Bros. Discovery. Warner Bros. Discovery closed at $24.5 per share on Thursday, with a market value of $61 billion. The key assets of this acquisition include iconic IP franchises such as "Game of Thrones" and "Harry Potter." For Netflix, this acquisition will further change the power dynamics in Hollywood. Analysts point out that the core reasons for Netflix's acquisition include locking in long-term rights to popular film and television content, reducing dependence on external production companies; meanwhile, after successfully implementing measures to combat password sharing, Netflix is expanding into the gaming business and seeking new growth opportunities, with the expansion of its own content library providing support.