Warner Bros., the company behind the upcoming Warner Bros./Time Warner Inc. pic, has agreed to sell its comic book-based movie and TV properties to CBS.
Warner Bros. pic will be sold to CBS, which will also license Warner Bros’ other properties, including the CBS television network, the CW network, and The CW digital network, which is owned by CBS Corp.
The deal is expected to close in the second half of 2017, the companies said on Tuesday.
The purchase is the latest in a wave of consolidation among the entertainment companies.
Last week, Disney’s $5.6 billion purchase of Lucasfilm was announced.