Netflix Inc’s (NASDAQ:NFLX) $82 billion deal to buy Warner Bros Discovery Inc’s (NASDAQ:WBD) studio and streaming assets may reshape Hollywood for the next century, but its most immediate effect is headed straight for the ETF market.
The deal promises to turn the Communication Services Select Sector SPDR (NYSE:XLC) into one of the most concentrated mega-cap vehicles in the U.S., renewing questions about whether sector ETFs can still work as diversified exposure tools in an era of consolidation.
