It’s official: fifteen days after three major entertainment companies submitted their bids to acquire Warner Bros. Discover, Netflix has emerged victorious over Paramount and Comcast. The streamer and the studio announced Friday that they’ve entered into a definitive agreement for Netflix to purchase Warner Bros.—including its very valuable film and television studios, HBO Max and HBO.

According to a press release, “the cash and stock transaction is valued at $27.75 per WBD share (subject to a collar as detailed below), with a total enterprise value of approximately $82.7 billion (equity value of $72.0 billion).”

“Our mission has always been to entertain the world,” Ted Sarandos , co-CEO of Netflix, said in a statement. “By combining Warner Bros.’ incredible library of shows and movi

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