Netflix to Buy Warner Bros. in $72B Cash, Stock Deal

Netflix Inc. agreed to buy Warner Bros. Discovery Inc. in a deal valuing the business at $82.7 billion including debt, with the company spinning off cable networks such as CNN and TNT into a separate company before concluding the sale. The acquisition is expected to close in the next 18 months and will give Netflix ownership of the HBO network, along with its library of hit shows and Warner Bros. assets, including its film and TV archive. Bloomberg’s Felix Gillette joined Scarlet Fu and Alexis Christoforous on ‘Bloomberg Businessweek Daily’ to break down the historic deal. (Source: Bloomberg)