Netflix announced a deal to purchase Warner Bros. Studios in a cash-and-stock deal (including debt) that values it at $82.7 billion.

Netflix’s potential acquisition of Warner Bros Discovery is sending ripples through India’s multiplex industry, which fears losing marquee releases to the streaming giant.

Netflix, the US-based streaming giant is set to acquire Warner Bros, including its film and television studios, HBO Max and HBO, following the separation of Discovery Global.