Netflix has agreed to buy Warner Bros Discovery in an $82.7bn (£62bn) deal that will dramatically reshape the established Hollywood film and TV industry.

The streaming company will take control of prize assets including Warner Bros, the studio behind franchises including Harry Potter, Superman and Batman, as well as HBO , home to shows including Game of Thrones, The White Lotus and Succession.

Netflix will also get hold of an extensive TV archive that includes classics such as Friends, which is scheduled to be removed from Netflix at the end of the year, and The Big Bang Theory.

“Our mission has always been to entertain the world,” said Ted Sarandos, the co-chief executive of Netflix . “Together, we can give audiences more of what they love and help define the next century of st

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