WBD will split into two companies. The studios and streaming business will go to Netflix, while the cable networks will be folded into a separately traded company.

The streamer promises to maintain current Warner Bros. operations, including theatrical releases.

After weeks of an intense bidding process, Netflix is picking up one of Hollywood's oldest studios in a game-changing deal.

Netflix is buying Warner Bros. and HBO Max in an $82.7 billion megadeal, reshaping Hollywood. Here's what it actually means.

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

"The service is set to launch in the U.K. and Ireland in early 2026, completing its European roll-out," says Warner Bros. Discovery.