Netflix Stock Down as It Plans To Buy Warner Bros. & HB Studio in $83 Billion Mega Deal.
Netflix has revealed the plans of buying famous hollywood studio warner bros. The deal value is approximately $82.7 billion. The deal must be approved by regulators. It will consolidate netflix ownership of some hollywood entertainment companies including HBO. Why Does Netflix Stock Down? Today warner bros and netflix has announced a deal which is Netflix will buy warner bros and it's HBO max & HBO divisions. The deal is approximately $82.7 million. The deal is not a surprise as the warner bros put itself on public sale previously and Netflix was primary bidders as expected. The owner of Warner Bros & Discovery announced this summer that it will split the current company into two. The first one is streaming & studio assets and second one is Global network divisions. With the announcement Netflix essentially buying streaming & studio sections and Discovery next year. Netflix says when the deal closes, every WBD shareholder will receive $2...