Streaming giant Netflix is acquiring the Hollywood stalwart Warner Bros following the spin-off of Warner's Discovery Global business unit for nearly US$82.7 billion (about RM340 billion), Netflix announced on Friday, reported German Press Agency (dpa).

The deal includes Warner Bros' film and television studios, HBO Max and HBO, both companies said.

"Our mission has always been to entertain the world," Ted Sarandos, co-chief executive of Netflix, said in a statement.

"By combining Warner Bros' incredible library of shows and movies - from timeless classics like 'Casablanca' and 'Citizen Kane' to modern favourites like 'Harry Potter' and 'Friends' - with our culture-defining titles like 'Stranger Things', 'KPop Demon Hunters' and 'Squid Game', we'll be able to do that even better.

"Together, we can give audiences more of what they love and help define the next century of storytelling," Sarandos said. 

- Bernama

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