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Netflix has agreed to buy the film and streaming businesses of Warner Brothers Discovery for $72bn, in a major Hollywood deal.
The streaming giant emerged as the successful bidder for Warner Brothers ahead of rivals Comcast and Paramount Skydance, after a drawn-out battle.
Warner Brothers owns franchises including Harry Potter and Game of Thrones, and the streaming service HBO Max.
The takeover is set to create a new giant in the entertainment industry, but the deal will still have to be approved by competition authorities.
Netflix co-chief executive Ted Sarandos said the streamer was "highly confident" it would receive the regulatory approval it needs and it was running "full speed" towards this.
He said that by combining the library of Warner Brothers shows and movies with the streaming platform's series such as Stranger Things, "we can give audiences more of what they love and help define the next century of storytelling".
