Huge deal with Netflix buying Warner Bros. for $83 billion including HBO Max. If it goes through, will be in the top 10 largest acquisitions of all time. From The Verge, no immediate hope of combining subscriptions:

In its announcement Netflix suggests it has no immediate plans for drastic change at Warner Bros., describing HBO and HBO Max as a “compelling, complementary offering” alongside its own streaming service, and saying it will maintain the studio’s current operations “including theatrical releases for films.”

I assume they’ll have a bundle, similar to early Disney+ and Hulu.