Netflix Co-CEOs Ted Sarandos and Greg Peters sought to reassure investors that their game-changing deal with Warner Bros. Discovery won’t become another media business fiasco. “A lot of those failures that we’ve seen historically is because the company that was doing the acquisition didn’t understand the entertainment business,

Netflix has officially struck a deal to acquire Warner Bros. in a landmark industry-changing mega-deal valued at $82.7 billion.

The streaming giant has emerged as the top bidder for Warner Bros ahead of rivals Comcast and Paramount Skydance after offering $28 (£21) per share, according to several outlets including Reuters and ...