We have a winner in the bidding war for Warner Bros-Discovery.

Netflix is in final talks to buy Warner's film and TV studios, plus its streaming assets and some debt, in a deal worth nearly $83 billion.

In a statement Friday, Netflix said the two entertainment giants had "entered into a definitive agreement under which Netflix will acquire Warner Bros., including its film and television studios, HBO Max and HBO." The announcement caps what had been a closely watched bidding war in Hollywood that involved top competitor Paramount.

“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 movies — from timeless classics like Casablanca and Citizen Kane to modern favorites li

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