Here’s a deep dive into the library that Netflix will acquire from Warner Bros. An earthquake just hit Hollywood. After an intense bidding process, Netflix has emerged victorious, becoming the future shepherd of Warner Bros. and its TV and movie studios, as well as HBO and HBO Max.

Streaming giant Netflix is acquiring the Hollywood stalwart Warner Bros following the spin-off of Warner's Discovery Global business unit for nearly $82. 7 billion, Netflix announced on Friday.

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