Media colossus Netflix has reached an agreement with Warner Bros. Discovery to buy its studio and streaming businesses for nearly $83 billion.

Netflix has agreed to buy Warner Bros. Discovery's TV and film studios and streaming division for $72 billion US, a deal that would hand control of one of Hollywood's most prized and oldest assets to ...

Home to over 300 million paid subscribers, Netflix is already a streaming giant in the industry, and if the deal is approved by federal regulators, it will revolutionize the entertainment industry.