Summary
Netflix plans to buy Warner Bros. and HBO Max for about $83 billion. This deal would join a major streaming company with an old Hollywood studio, raising questions about the future of movie theater releases and market control.
Key Facts
- Netflix is acquiring Warner Bros. and HBO Max for nearly $83 billion.
- The deal went through a bidding war, which Netflix won against Paramount and Comcast.
- Warner Bros. is one of the oldest studios in Hollywood.
- There are concerns about how this may impact movie theater releases.
- The acquisition also raises worries about market concentration, meaning fewer companies control more of the industry.
- Geoff Bennett spoke with Matthew Belloni from Puck for more insights.
