Netflix has announced a deal to acquire Warner Bros. Discovery, including its film and TV studios HBO and HBO Max.

The streaming giant will purchase Warner Bros. for approximately $82.7 billion and is expected to go into effect in at least a year, according to a statement from Netflix.

“Today’s announcement combines two of the greatest storytelling companies in the world to bring to even more people the entertainment they love to watch the most,” David Zaslav, President and CEO of Warner Bros. Discovery, said in the statement.

Through the acquisition, iconic franchises such as “The Big Bang Theory,” “The Sopranos,” “Game of Thrones,” “The Wizard of Oz” and the DC Universe will join Netflix’s extensive streaming catalog.

Netflix said that they plan to continue Warner Bros. operation

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