The studio owns the only remaining massive trove of iconic IP in Hollywood. No wonder Ted Sarandos and David Ellison are battling to lock it up.

Netflix has announced that it will acquire Warner Bros. in a massive $82.7 billion dollar deal, and will own Warner Bros.' film and TV studios plus HBO and HBO Max.

The entertainment world is still abuzz from Friday's announcement that Netflix has agreed to an $82.7 billion deal to acquire Warner Bros. Discovery, Inc., including HBO and HBO Max. It will take a while for the sale to be finalized,

Netflix co-CEO Ted Sarandos said theatrical runs will “evolve” to be more consumer friendly while criticizing lengthy theater exclusivity windows.

The visit came on the same day that WBD's board officially rejected Paramount Skydance's hostile bid for the company.

Hedge fund founder Soo Kim has held talks over buying into Warner Bros. Discovery (WBD)'s TV networks, according to the Financial Times.

Affinity Partners had planned to back a bid by Paramount Skydance to acquire all the assets of media giant Warner Bros. Discovery.

In rejecting Paramount ’s hostile takeover bid, Warner Bros. Discovery questions the Ellison family trust and its commitment to a $77.9 billion deal.