Netflix to buy Warner Bros film and streaming businesses for $72bn

The major Hollywood deal means Netflix will takeover ownership of franchises including Harry Potter and Game of Thrones.

Watch LiveBritish Broadcasting CorporationHomeNewsSportBusinessInnovationCultureArtsTravelEarthAudioVideoLiveDocumentariesHomeNewsIsrael-Gaza WarWar in UkraineUS & CanadaUKUK PoliticsEnglandN. IrelandN. Ireland PoliticsScotlandScotland PoliticsWalesWales PoliticsAfricaAsiaChinaIndiaAustraliaEuropeLatin AmericaMiddle EastIn PicturesBBC InDepthBBC VerifySportBusinessExecutive LoungeTechnology of BusinessFuture of BusinessInnovationWatch DocumentariesTechnologyScience & HealthArtificial IntelligenceAI v the MindCultureWatch DocumentariesFilm & TVMusicArt & DesignStyleBooksEntertainment NewsArtsWatch DocumentariesArts in MotionTravelWatch DocumentariesDestinationsAfricaAntarcticaAsiaAustralia and PacificCaribbean & BermudaCentral AmericaEuropeMiddle EastNorth AmericaSouth AmericaWorld’s TableCulture & ExperiencesAdventuresThe SpeciaListEarthWatch DocumentariesNatural WondersWeather & ScienceClimate SolutionsSustainable BusinessGreen LivingAudioPodcast CategoriesRadioAudio FAQsVideoWatch DocumentariesBBC MaestroLiveLive NewsLive SportDocumentariesHomeNewsSportBusinessInnovationCultureArtsTravelEarthAudioVideoLiveDocumentariesWeatherNewslettersWatch LiveNetflix to buy Warner Bros film and streaming businesses for $72bn16 minutes agoShareSaveRachel ClunBusiness reporterShareSaveBloomberg via Getty ImagesNetflix has agreed to buy the film and streaming businesses of Warner Bros Discovery for $72bn (£54bn) in a major Hollywood deal.

The streaming giant emerged as the successful bidder for Warner Bros ahead of rivals Comcast and Paramount Skydance after a drawn-out battle.

Warner Bros owns franchises including Harry Potter and Game of Thrones, and the streaming service HBO Max.

The takeover is set to create a new giant in the entertainment industry, but the deal will still have to be approved by competition authorities.

Netflix co-chief executive Ted Sarandos said the streamer was "highly confident" it would receive the regulatory approval it needs and it was running "full speed" towards this.