Netflix to take over Warner Bros film and streaming business

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  Today, a happy ending for Netflix.

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  This is a rare opportunity that's going to help us achieve our mission to entertain the world and to bring people together through great stories.

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  But could it be a horror movie for cinema owners?

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  This is a significant, significant threat, we believe,

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  to the long-term high ability of theatrical exhibition.

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  Netflix buys Warners on World Business Report from the BBC World Service.

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  I'm Ed Butler and today we are looking at that takeover by Netflix of Warner's streaming services.

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  A $72 billion deal.

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  We're also going to be considering the global trade in animal body parts and the costs of transport for fans at Next Year's Football World Cup.

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  Now, is this the beginning of a radical reshaping of the US media landscape,

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  a merger of two modern titans of American screen entertainment?

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  Yes, you may recognise those jingles.

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  Netflix has agreed to buy fellow media giant Warner Brothers streaming and studio business for a whopping $72 billion,

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  jaw-dropping by any industry standards.

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  Warner Brothers owns the streaming service, HOB HBO Max,

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  as well as major franchises like Harry Potter and Game of Thrones, among others.

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  The Netflix chief executive, Ted Sarandos,

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  said the agreement would help to define the next century of storytelling.

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  I know some of you are surprised that we're making this acquisition.

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  And I certainly understand why.

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