The company set aside a $38.7 million plan to retain key employees during the transaction close time, which could take 12 to 18 months.

This is a David and Goliath story – with a twist. Almost exactly 15 years ago today the owner of Warner Bros. and HBO pushed back on Hollywood and Wall Street hype about a streaming upstart named Netflix.

The massive deal could mean higher subscription prices, fewer buyers for producers and maybe another merger down the road.

Brokerage firm Forsyth Barr analyst Ben Crozier said the deal could have a negative affect on Sky's annual revenue, particularly from Neon subscriptions.

Discovery’s film studios and streaming assets, including HBO Max, and subscribers of both streaming giants may now be wondering what changes could come to their content and their monthly bills. While Netflix expects to close the deal — valued at $82.