It sounds like a simple merger deal, but it's got all the ingredients of a Hollywood drama: a rich and powerful suitor, political intrigue, and plenty of cliff-hangers.

Netflix's deal to buy Warner Brothers Discovery's storied movie studio and popular HBO streaming networks is a real-life tale of a conquering giant. However, with regulators and rivals still waiting in the wings, it’s probably just the start of an unfolding saga.

As the story unfolds, here are five key takeaways from this blockbuster deal:

1. Netflix is becoming even more powerful

Netflix has been pulling ahead in Hollywood for years now, ranking as the world's biggest streaming subscription service and largest producer of new content in California. This deal, reportedly valued at $72 billion, only solidifies its dominance.

By acquiring a massive catalog with nearly a century's worth of titles, Netflix is set to enhance its production capacity significantly, potentially adding HBO's 128 million subscribers to its own 300 million-strong base.

2. It could mean prices go up.... or down

Netflix plans to complete the deal within the next year to 18 months, though executives remain ambiguous about whether Warner Brothers’ HBO brand will coexist alongside Netflix.

The upcoming merger may allow Netflix to explore various pricing strategies, leading to speculation on whether subscribers might pay more or less.

3. Streaming is the future, and Hollywood feels cast aside

As one of the studios that defined Hollywood, Warner Bros’ fate illustrates the fading of cinema's golden age. Analysts claim that the increasing shift towards all-streaming will likely end the legacy media era.

While Netflix has committed to continuing theatrical releases for blockbuster films, uncertainty looms over how the merger will influence the cinematic landscape.

4. The deal is not yet done

The path to completing the merger is overgrown with obstacles. Warner Brothers Discovery must first finalize the spin-off of its unsold segments, such as CNN and Eurosport. Meanwhile, competitors like Paramount Skydance may challenge Netflix's bid.

5. Donald Trump is another wild card

Hints of political influences loom over the merger discussions, with the Trump administration expressing skepticism regarding Netflix's deal due to potential implications for competition and consumer choices.

This acquisition saga continues to evolve, keeping industry insiders on the edge of their seats as they await its conclusion.