How Netflix's $82.7 billion takeover of Warner Bros will reshape the business, end streaming wars and likely bring another culture clash.

The prospect of Paramount’s buying Warner Bros. Discovery had led CNN journalists to wonder if the channel may be combined with CBS News. Instead, CNN will remain in a separate corporate entity.

Netflix is doubling down on its dominance in streaming with a massive acquisition. The OTT giant has announced that it will buy Warner Bros. Discovery’s studios and HBO (with HBO Max) streaming assets in a $72 billion deal,

Warner Bros. Discovery Inc., the parent of HBO and CNN, has asked potential buyers to submit new, sweetened offers after receiving an initial round of bids, people familiar with the matter said.