Netflix has agreed to buy Warner Bros Discovery's TV and film studios and streaming division for US$72 billion, a deal that would hand control of one of Hollywood's most prized and oldest assets to the streaming pioneer that has upended the media industry. The agreement - announced on Friday - follows a weeks-long bidding war where Netflix seized the lead with a nearly US$28-a-share offer that eclipsed Paramount Skydance's nearly US$24 bid for the whole of Warner Bros Discovery, including the cable TV assets slated for a spinoff.Warner Bros Discovery shares closed at $24.