Netflix has announced the acquisition of Warner Bros.

The American company Netflix announced on its website about the purchase of Warner Bros. Discovery. It will own all Warner Bros. film and TV studios, as well as HBO and HBO Max.

The deal is valued at $82.7 billion.

Shareholders of Warner Bros. Discovery shareholders will receive $27.75 per share: $23.25 in cash and $4.50 in Netflix shares.

The deal is expected to close within 12-18 months, but first Warner Bros. Discovery to spin off its Global Networks division (which includes cable TV channels CNN, TNT Sports, Discovery, etc.) into a separate public company, Discovery Global, which is planned for the third quarter of 2026.

"This acquisition will combine Netflix's innovation, global reach, and first-class streaming service with Warner Bros.' more than a century of heritage," the press release said.

As a result of the deal, Netflix will get the rights to The Big Bang Theory, The Sopranos, Game of Thrones, Friends, DC and Harry Potter franchises, classic films Casablanca, Citizen Kane, The Wizard of Oz, etc.

Netflix has promised to keep Warner Bros.' current operations, including movie theaters.

The deal is subject to approval by Warner Bros. Discovery shareholders and regulators.

Netflix was ahead of Paramount Skydance Corp. and Comcast Corp. who also claimed the assets of Warner Bros.

UPDATED. This news was originally published at 12:20 p.m. under the headline "Bloomberg: Netflix in Talks to Buy Warner Bros." and has been updated to reflect official information.