Streaming giant Netflix said Friday it will buy film and television studio Warner Bros. Discovery for nearly $83 billion, the entertainment industry's biggest consolidation deal this decade.

The acquisition, which will face regulatory scrutiny by the Trump administration and is opposed by top names in Hollywood, gives Netflix access to a vast film catalog as well as the prestigious streaming service HBO Max.

It does not include cable channels such as CNN, TNT, TBS and Discovery, which are being spun off by Warner Bros. Discovery before the deal is due to close.

Over the decades, Warner Brothers has produced film classics including "Casablanca" and "Citizen Kane," as well as more recent blockbuster shows including "The Sopranos", "Game of Thrones" and the "Harry Potter" movies.

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