'HBO Max will stay' even after Netflix deal says Warner Bros. CEO David Zaslav

Netflix has announced plans to acquire Warner Bros. Discovery for $82.7 billion, marking a significant shift in its strategy from building content to acquiring established studios. This deal is expected to enhance Netflix's library of popular movies and TV shows, including iconic franchises like Batman and Game of Thrones.

Netflix President and co-CEO Ted Sarandos reassured investors at the UBS conference in New York that there would be no redundancies in the assets of Warner Bros. Discovery following Netflix's acquisition of the company. This statement comes amidst a significant shift in Netflix's strategy towards acquiring established studios rather than solely building content.

Paramount has initiated a hostile bid to acquire Warner Bros. Discovery for $30 per share, a move that intensifies the competition in the media landscape following Netflix's reported agreement to acquire Warner Bros. Discovery for approximately $72 billion. This bid marks a significant escalation in the ongoing battle for dominance among major streaming platforms.

Paramount has made a hostile bid for Warner Bros. at $30 per share, escalating the competition in Hollywood's entertainment landscape. This move indicates a significant shift in the dynamics of major studio acquisitions, as Paramount seeks to strengthen its position in the industry.

Former President Donald Trump expressed concerns that if Netflix acquires Warner Bros., its increased market share could pose a problem for competition in the streaming industry. This statement comes amid Netflix's reported bid for Warner Bros. Discovery, which is seen as a significant strategic shift for the company.