Netflix has agreed to buy Warner Bros. Credit - Getty.

Netflix has clinched a blockbuster deal to take over Warner Bros in a major shake-up of the film and streaming industry.

In an announcement on Friday, it was formally announced that Netflix would take over the major streaming and film company Warner Bros in an agreement worth $72bn (£54bn).

Should the deal pass regulatory checks, it would transform the film scene when subscription services have come to win over cinemas while AI is threatening actors and producers’ careers,

Those regulatory procedures, however, could push back the full agreement to 2027.

Under the terms of the deal, Discovery Global, which houses news broadcaster CNN and some US channels, has split from Warner Bros.

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