Travis Hoium

For Rachel Warren, John Quast, and Boyd behind the glass and the entire Motley Fool team, I'm Travis Hoem.

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Netflix is buying Warner Brothers Discovery.

Are the streaming wars finally over?

Motley Fool Money starts now.

From Fool Global Headquarters, this is Motley Fool Money.

Welcome to Motley Fool Money.

I'm Travis Hoey.

I'm joined by Lou Whiteman and Jason Moser.

Guys, we got to start with the news of the day.

That is Netflix buying Warner Brothers Discovery, or at least part of Warner Brothers Discovery.

They're going to be spinning off

WBD's Global Networks, Discovery Global, that's the old TV station, CNN, TNT, stuff like that.

But Netflix is going to pay $82.7 billion in total.

Warner Brothers Discovery shareholder, if you are a shareholder, you're going to get

$23.25 worth of cash, $4.50 in Netflix stock.

Netflix is also taking out $59 billion worth of debt to finance this deal.

There's a $5.8 billion breakup fee.

There's a lot going on here, Lou, but what is your first reaction?