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Netflix has made a huge move in the entertainment industry by agreeing to buy the film and streaming businesses of Warner Bros Discovery for $72 billion. This deal is one of the biggest in Hollywood history and will make Netflix even more powerful in the world of movies and TV. Netflix beat out other big companies like Comcast and Paramount Skydance to win the bid for Warner Bros. Warner Bros is famous for owning popular franchises such as Harry Potter and Game of Thrones, and it also runs the streaming service HBO Max. The deal is not final yet, as it still needs to be approved by competition authorities who make sure that big companies do not become too powerful. Some people in the film industry, including the Writers Guild of America, are worried about the deal. They believe it could hurt workers by reducing jobs and lowering wages, and it could also make things worse for viewers by raising prices and offering less variety in movies and shows. Netflix's co-chief executive Ted Sarandos said he is very confident that the deal will be approved and that Netflix is moving quickly to make it happen. He explained that by combining Warner Bros' huge library of movies and shows with Netflix's own popular series like Stranger Things, they can give audiences even more of what they love and help shape the future of storytelling. Sarandos also said that Warner Bros has been a leader in entertainment for the past century, and now Netflix and Warner Bros can work together to lead the next century. Greg Peters, another Netflix executive, said that the HBO brand is important to consumers, but it is too early to say exactly what will happen to HBO as a streaming service. Netflix expects to save $2 billion to $3 billion by cutting out duplicate jobs and technology between the two companies. Warner Bros will continue to release movies in cinemas, and its television studio will still be able to make shows for other companies. Netflix will keep making content just for its own platform. The deal is worth $27. 75 for each Warner Bros share, and the total value of the company, including its debts, is about $82. 7 billion. The cash price is $72 billion, and both companies' boards of directors have agreed to the deal. However, not everyone is happy about it. The Writers Guild of America said the merger should be blocked because it would eliminate jobs, lower wages, and reduce the amount and diversity of content for viewers. Michael O'Leary, who leads a group that represents cinemas, said the deal could hurt cinemas everywhere, from big chains to small independent theaters. Netflix will complete the takeover after Warner Bros finishes its plan to split its business into two separate companies next year. One part will be called Discovery Global and will include cable channels like CNN and TNT Sports in the US, as well as Discovery channels in Europe. TNT Sports International will stay with the part of the business that Netflix is buying. Some experts say this deal shows Netflix wants to be the global leader in streaming. However, it could be difficult for Netflix to combine the two companies because the deal is so large. Paramount tried to buy all of Warner Bros last year, but Warner Bros rejected the offer. Some analysts believe the deal will change Hollywood in a big way. There could be fewer new movies and shows, and prices for streaming could go up. Netflix might become more expensive, and even though HBO Max might not be as important, more people will use Netflix, which means more money for the company. Danni Hewson, a financial analyst, said Netflix has promised to keep releasing Warner Bros movies in cinemas, which is good news for Hollywood. If the deal is approved quickly, Netflix could save a lot of money, but people are watching to see if Netflix will have too much control over prices. The deal is getting a lot of attention, and everyone is waiting to see what will happen next in the entertainment industry.