US EditionNetflix Enters Exclusive Talks to Acquire Warner Bros. Discovery: Report
- After the Friday announcement, the Writers Guild of America West and East urged U.S. regulators to block the proposed sale, citing broad harms, while the Directors Guild of America raised significant concerns and plans to meet Netflix.
- Warning of fewer buyers and less variety, the unions argued the deal would eliminate jobs, push down wages, worsen conditions for entertainment workers, and reduce content diversity for consumers.
- Netflix unveiled a $72 billion offer that would acquire Warner Bros. Discovery and HBO Max, pricing shares at $27.75 each and combining 300 million global subscribers with HBO Max's 128 million.
- The Department of Justice is expected to review the transaction, and Netflix said it expects the deal to close in 12 to 18 months while agreeing to a $5.8 billion breakup fee if blocked.
- Beyond jobs and pricing, critics warned of harm to cinemas and theatrical exhibitors, with Senator Elizabeth Warren saying `Under Donald Trump, the antitrust review process has also become a cesspool of political favoritism and corruption`.
202 Articles
202 Articles
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For the overwhelming majority of people whose families, jobs, and personal pursuits loom larger than the endless mergers and acquisitions in Hollywood, the hue and cry over Netflix’s plans to acquire Warner Bros. Discovery is likely to elicit not much more than a shrug. To most ordinary, well-adjusted people, the ownership of a movie studio is not much more consequential than the ownership of a baseball team or a chain of restaurants. As long as…
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Reaction to the Netflix-Warner Bros. deal
LOS ANGELES (NBC, KYMA) - The world's biggest streamer, Netflix, has agreed to buy one of Hollywood's oldest studios for nearly $83 million. While the bidding war may be over, the regulatory battle is just beginning. Hollywood has plenty to say about this potential deal, and now the question is: How is this going to impact those who work in the entertainment industry and consumers as well? When two entertainment giants converge, where does that …
A major screenwriters' union in the United States believes that the purchase of films, television studios and Warner Bros' HBO Max streaming platform by Netflix must "be blocked". ...
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