Netflix Inc. and Warner Bros. Discovery Inc. announced an agreement under which Netflix will acquire Warner Bros., including its film and television studios, HBO Max and HBO.

Netflix has agreed to buy Warner Bros Discovery's TV, film studios and streaming division for $72 billion, a deal that would hand control of one of Hollywood's most prized and oldest assets to the str...

Netflix saw off competition for the businesses from Paramount and Comcast, in an auction overseen by WBD boss David Zaslav.