Netflix has stunned Hollywood after agreeing to buy Warner Bros’ film and streaming businesses for $72 billion, capturing franchises like Harry Potter, Game of Thrones, and HBO. Executives Ted Sarandos and Greg Peters call it a “once-in-a-century opportunity,” but analysts warn of higher prices, major industry fallout, and huge regulatory hurdles ahead. With the merger set to reshape cinemas, streaming, and studio output worldwide, the entertainment world is bracing for a historic shift. Watch.