Netflix acquires Warner Bros. for $82.7 billion. Thus, HBO Max comes under the ownership of the Netflix platform.

Netflix, led by Reed Hastings and co-CEOs Ted Sarandos and Greg Peters, announced on Friday the acquisition of Warner Bros. for $82.7 billion, a move that will transform the entertainment industry. Netflix intends to maintain the current operations of Warner Bros., including film releases, and promises annual savings of $2-3 billion. Warner Bros. shareholders will receive $23.25 in cash and $4.50 in Netflix stock for each share held.

Ted Sarandos emphasized that the unification of film and show libraries will enhance user experience, providing more opportunities to work with well-known franchises. However, the acquisition faces concerns related to regulations and the impact on cinemas, with Cinema United warning that Netflix's business model does not support projections in movie theaters. The media industry is undergoing a historic transformation, and Netflix, described as the winner of the "streaming war," is preparing for significant expansion.