Netflix clinches $72-billion deal for Warner Bros

NETFLIX AGREED TO buy Warner Bros Discovery ina historic combination, joining the world’s dominant paid streaming service with one of Hollywood’s oldest and most revered studios.

- LUCAS SHAW & MICHELLE F DAVIS

NETFLIX AGREED TO buy Warner Bros Discovery ina historic combination, joining the world’s dominant paid streaming service with one of Hollywood’s oldest and most revered studios.

Under the deal announced Friday, Warner Bros shareholders will receive $27.75 a share in cash and stock in Netflix. The total equity value of the deal is $72 billion, while the enterprise value of the deal is about $82.7 billion.

Prior to the closing of the sale, Warner Bros will complete the planned spinoff of cable channels including CNN, TBS and TNT.