New Delhi, Dec. 11 -- Earlier this week, Netflix Inc. made headlines with its $82.7 billion acquisition of Warner Bros. Discovery-a deal that instantly became one of the most consequential in entertainment history.

We already discussed the structure of the transaction and shared some initial thoughts on why this move made strategic sense. But the deeper implications go far beyond deal mechanics-touching how creators work, how franchises evolve, and how the entire theatrical ecosystem may shift in the years ahead.

When people read that Netflix is spending $82.7 billion to acquire Warner Bros. Discovery, the number sounds huge but abstract.

The real question is: What does Netflix actually get for that amount of money? And more importantl...