NEW YORK (AP) — Netflix struck a deal Friday to buy Warner Bros. Discovery, the Hollywood giant behind "Harry Potter" and "Friends," in a $72 billion deal that would bring together two of the biggest players in television and film and potentially reshape the entertainment industry.

Beyond its namesake television and motion picture division, Warner owns HBO Max and DC Studios. Netflix is ubiquitous with its vast selection of on-demand content, and its production arm has released popular titles such as "Stranger Things" and "Squid Game."

"For more than a century, Warner Bros. has thrilled audiences, captured the world's attention, and shaped our culture," David Zaslav, CEO of Warner Bros. Discovery, said in a statement. "By coming together with Netflix, we will ensure people everywhere wil

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