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Illustration of Netflix's $82.7 billion acquisition of Warner Bros., featuring executives sealing the deal amid symbols of streaming merger and cinema uncertainty.
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Netflix acquires Warner Bros. in $82.7 billion deal

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Netflix has secured a deal to buy Warner Bros. for $82.7 billion, reshaping the entertainment industry and raising questions about the future of HBO's linear service and theatrical releases. The acquisition, which still requires regulatory approval, promises to integrate HBO Max as a separate entity initially but could eventually fold it into Netflix. Industry observers worry about the impact on premium cable and cinema exhibition.

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