STREAMING giant Netflix has confirmed it will acquire film and television studio Warner Bros. Discovery for about $83 billion.
The deal has been described as the entertainment industry’s biggest consolidation of the decade.
Several Hollywood figures reacted negatively, including Titanic and Avatar director James Cameron, who reportedly called the deal “a disaster” and said “theatrical films are dead.”
Warner Bros. is behind iconic titles such as Casablanca, Game of Thrones and Harry Potter. Its portfolio also includes cable networks HBO, CNN, TNT, DC and Discovery.” / TRC