Netflix is set to purchase legendary Hollywood studio Warner Bros. in a deal worth billions. Here's what it means for your favorite shows and films.

The massive deal could mean higher subscription prices, fewer buyers for producers and maybe another merger down the road.

The cash-and-stock deal would give the world’s largest paid streaming service expansive power over theater owners and entertainment-industry unions.

The deal would unite two of the biggest players in entertainment and potentially transform the media business.

Netflix announced that it will acquire the HBO Max streaming service as well as the Warner Bros. film studio from Warner Bros. Discovery. The deal values the company at $27.75 per share, which implies a $72 billion equity valuation for the assets. The company will also assume $10.7 billion in net debt on Warner Bros. Discovery's balance sheet.

Netflix is set to acquire Warner Bros. Discovery, including HBO and HBO Max, but what does that mean for consumers?

Netflix has struck a nearly $83 billion deal to acquire Warner Bros. and HBO Max, beating out Paramount and Comcast after a bidding war. If finalized, it would unite the world’s largest streamer with one of Hollywood’s oldest studios.

Will the acquisition give Netflix a genuine foothold in the amusement-park business? Ingesting Warner Bros. changes Netflix’s options on this front, though only partially. In addition to its valuable library of titles and intellectual property (including DC Studios and Harry Potter),

The acquisition will see massive franchises including Harry Potter and Friends brought into the same portfolio as Stranger Things and Squid Game.

Do you cast Netflix movies or TV shows from your phone to the TV using the Chromecast? If you have a newer Google streamer, it no longer works.