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Netflix announced it will buy Warner Bros. Discovery for $72 billion in one of the most colossal deals in recent Hollywood history.

Netflix has agreed to buy Warner Bros Discovery's TV and 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 ...

“This acquisition will improve our offering and accelerate our business for decades to come,” said Greg Peters, co-chief executive of Netflix, in a statement.