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`.
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194 Articles
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". ...
Netflix to acquire Warner Bros.
NEW YORK — Netflix struck a deal Friday to buy Warner Bros. Discovery, the Hollywood giant behind "Harry Potter" and "Friends," in a $72 billion deal that would bring together two of the biggest players in television and film and…
Netflix’s proposed $72 bn takeover of Warner Bros Discovery will cost jobs, Hollywood unions warn
The deal would put HBO & the historic Warner Bros studio under Netflix, further expanding a streaming giant already blamed for speeding Hollywood’s shift from theatres to home viewing.
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