Netflix has won a bidding war to acquire Warner Brothers Discovery, paying nearly $83 billion in cash and stock for the film and television studios as well as the HBO Max streaming service.

Netflix has agreed to buy Warner Bros Discovery's TV, film studios and streaming division for $72 billion, a deal that would hand control of one of Hollywood's most prized and oldest assets to the str...

“Nothing is changing today. Both streaming services will continue to operate separately,” the email stated.