India, Dec. 5 -- In a landmark deal, Netflix announced that it will acquire Warner Bros., including its film and television studios, HBO Max and HBO. The official social media account of Netflix shared this announcement, along with the details of the deal. The cash and stock transaction is valued at $27.75 per WBD share, along with a total enterprise value of approximately $82.7 billion (equity value of $72.0 billion), reported Tudum on Friday.

Ted Sarandos, co-CEO of Netflix, said in a statement, "Our mission has always been to entertain the world. By combining Warner Bros.' incredible library of shows and movies-from timeless classics like Casablanca and Citizen Kane to modern favorites like Harry Potter and Friends-with our culture-de...