Business
Netflix strikes £54bn deal to buy Warner Bros studios
Netflix has agreed to buy Warner Bros Discovery film and TV studios business in a 72 billion US dollar (£54 billion) deal.
The US streaming giant confirmed the deal on Friday after it had emerged as the front-runner to buy the business, which owns franchises such as Harry Potter and Batman, following an auction process.
It had battled with Paramount Skydance and Sky owner Comcast to buy the studio business, which also runs HBO and fellow streaming service HBO Max.
The deal could dramatically further reshape the established Hollywood film and TV industry, which has already faced significant upheaval amid the rapid growth of streaming.
Bosses at Netflix said they expect to maintain Warner Bros current operations and will continue to release films in cinemas.
Netflix said it will pay 27.75 dollars (£20.79) per share to investors in the Warner Bros Discovery business.
The deal will close after Warner Bros Discovery completes a proposed spin-off of its cable channels, which include CNN, TBS and TNT Sports in the UK.
As a result, the process is not expected to complete until at least the third quarter of next year.
Nevertheless, the deal is likely to garner significant scrutiny from regulators in the US and Europe.
Ted Sarandos, co-chief executive of Netflix, said: “Our mission has always been to entertain the world.
“By combining Warner Bros’ incredible library of shows and movies — from timeless classics like Casablanca and Citizen Kane to modern favourites like Harry Potter and Friends — with our culture-defining titles like Stranger Things, KPop Demon Hunters and Squid Game, we’ll be able to do that even better.
“Together, we can give audiences more of what they love and help define the next century of storytelling.”
Netflix said the move will provide it with a much deeper library of film and TV content for its subscribers.
It will also enhance its studio capabilities, allowing the company to expand its production capacity and increase investment in original content over the longer term.
David Zaslav, president and chief executive of Warner Bros Discovery, said: “Today’s announcement combines two of the greatest storytelling companies in the world to bring to even more people the entertainment they love to watch the most.”
Netflix shares moved slightly lower after the deal was announced.
Danni Hewson, AJ Bell head of financial analysis, said: “Splashing out so much cash was never going to make the share price jump with delight, but if this deal can clear those significant regulatory hurdles quickly there are likely to be considerable cost savings to be made.
“How much of those savings get passed to streaming platform subscribers or whether Netflix will be seen to have too much pricing power is one of the areas that will face a huge amount of scrutiny in the coming months.”
Business
Asda boss rejects profiteering claims as petrol price tops 150p
Motorists are facing higher fuel prices ahead of Easter break due to the conflict in the Middle East, the RAC says.
Source link
Business
Hetero rolls out generic semaglutide exports to over 75 countries – The Times of India
Hyderabad: Pharma player Hetero on Friday said it has rolled out exports of its generic semaglutide injection portfolio as part of a multi-year plan to widen access to treatments for type 2 diabetes and obesity in more than 75 countries.The Hyderabad-based pharmaceutical company said initial rollouts are under way in Africa, Asia and the Middle East, with additional launches planned in other markets subject to regulatory approvals.The injectable therapies will be sold under the brand names Truglyx, Rolmodl and Moto G. Semaglutide belongs to the GLP-1 class of medicines, which are used in diabetes care and weight management.Hetero said the export launch is part of its broader strategy to improve access to advanced cardio-metabolic therapies, particularly in emerging markets.The company said the products will be offered in multi-dose disposable pen devices designed in line with innovator formats and will be available in several strengths, including 0.25 mg, 0.5 mg, 1 mg, 2 mg, 1.7 mg and 2.4 mg, allowing dosing flexibility for both diabetes and obesity treatment.Hetero said it is also awaiting approval from India’s Central Drugs Standard Control Organisation (CDSCO) after completing clinical trials in type 2 diabetes and obesity and plans an India launch after regulatory clearance.Hetero managing director Dr Vamsi Krishna Bandi said the company aims to provide high-quality, affordable generic semaglutide through a single global product platform backed by its manufacturing and development capabilities.He said Hetero would use its commercial networks across Asia, the Middle East, Africa and Latin America to support supply and access. The Hyderabad-headquartered Hetero operates in more than 145 countries and employs over 30,000 people.
Business
India-US trade deal update: Piyush Goyal meets USTR Jamieson Greer, discusses next steps in BTA talks – The Times of India
Commerce and industry minister Piyush Goyal on Friday met US Trade Representative Jamieson Greer and reviewed the next steps in negotiations for the proposed India-US bilateral trade agreement (BTA).The meeting took place on the sidelines of the 14th ministerial conference (MC14) of the World Trade Organisation in Yaounde, Cameroon, where both sides also exchanged views on issues related to the WTO agenda.“Had a very productive discussion with @USTradeRep Jamieson Greer on the sidelines of the WTO Ministerial Conference. Exchanged views on the #WTOMC14 agenda, next steps in the India-US BTA negotiations and explored ways to further deepen our economic cooperation and bilateral trade ties,” Goyal said in a social media post.The development comes amid ongoing efforts by both countries to finalise an interim trade pact. Last month, India and the US announced that they had finalised a framework for the first phase of the agreement, though it is yet to be signed.The two sides had earlier announced a trade deal on February 2, followed by a joint statement on February 7 outlining the contours of the agreement.As part of the framework, the US had agreed to reduce tariffs on Indian goods to 18%. However, the tariff structure has since undergone changes after the US Supreme Court struck down sweeping tariffs imposed under earlier measures.Following the ruling, US President Donald Trump introduced a 10% tariff on all countries for a period of 150 days starting February 24.In view of these developments, a planned meeting between chief negotiators of India and the US — aimed at finalising the legal text of the agreement — has been postponed. The pact was earlier expected to be signed this month.An official had earlier said that the interim trade agreement would be signed once the new global tariff framework of the US is fully in place.
-
Entertainment1 week agoVal Kilmer revived 1 year after death through AI
-
Fashion7 days agoChina’s textile & apparel exports surge 17% to $50 bn in Jan-Feb 2026
-
Business1 week agoVideo: The Effects of High Oil Prices
-
Business7 days agoFlipkart group CFO to leave co amid IPO plans – The Times of India
-
Sports7 days agoRating Adidas’ 2026 World Cup away shirts: Argentina, Spain, Mexico and more
-
Fashion1 week agoThe hidden $1.62 war tax now embedded in every garment you source
-
Sports7 days agoAmerican Conference Commissioner Tim Pernetti thanks Trump for Army-Navy game executive order
-
Tech1 week ago
The Corsair 4000D RS PC Case Keeps Your System Cool
