Netflix and Warner Bros. announced early this morning a blockbuster $82.7-billion deal for the TV streamer to acquire Warner Bros. film and television studios, HBO Max and HBO.

Netflix has agreed to buy Warner Bros Discovery’s TV, film studios and streaming division for $US72 billion, a deal that would hand control of one of Hollywood’s most prized and oldest assets to the s...

“Nothing is changing today. Both streaming services will continue to operate separately,” the email stated.