Hollywood deals

Netflix Inc. has announced a landmark agreement to acquire Warner Bros. from Warner Bros. Discovery (WBD) in a cash-and-stock transaction that values the studio at an enterprise figure of about $82.7 billion and an equity value of $72 billion. The deal, one of the largest in entertainment history, brings together the world’s leading streaming platform and one of cinema’s most storied studios. Under the deal, each WBD shareholder will receive $23.25 in cash and an additional $4.501 in Netflix stock for every WBD share at closing. The transaction values WBD at $27.75 per share, subject to a collar tied to…