In the ultimate triumph for the disruptors, Netflix has won the fight for renowned Hollywood studio Warner Bros. Discovery with a $US72 billion ($105 billion) cash-and-stock deal. But does it truly make sense?
The transaction, which is worth $US83 billion including debt, clearly marks a historic moment in the assault on the movie business by the tech industry. Amazon’s $US8.5 billion purchase of Metro-Goldwyn-Mayer and the James Bond franchise pales in comparison next to this one.
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Bloomberg Opinion
