US EditionThe Regulatory Path Ahead for a Netflix and Warner Bros. Deal Could Get Dicey
Hollywood unions warn the merger could reduce jobs, lower wages, and limit content diversity, urging regulators to block the $82 billion Netflix acquisition of Warner Bros.
- 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`.
28 Articles
28 Articles
Writers, producers, directors and owners of Hollywood cinemas criticized Netflix’s proposal to acquire Warner Bros’ studio and streaming businesses. Discovery Inc. for $82.7 billion, viewing it as a threat to their interests. The U.S. Writers’ Union (WGA), which announced in October its opposition to any Warner Bros sales, reiterated that position this Friday. Warner Bros.’s purchase of part of Netflix “must be blocked,” they remarked. “The larg…
Hollywood writers say Warner takeover ‘must be blocked’
Hollywood writers, producers, directors and theater owners voiced skepticism over Netflix Inc.’s proposed $82.7 billion takeover of Warner Bros. Discovery Inc.’s studio and streaming businesses, saying it threatens to undermine their interests. The Writers Guild of America, which announced in October it would oppose any sale of Warner Bros., reiterated that view on Friday, saying the purchase by Netflix “must be blocked.” “The world’s largest st…
Here's what Hollywood heavy hitters have to say about the Netflix-Warner Bros. deal
Netflix's $72 billion acquisition of Warner Bros. is raising eyebrows across Hollywood.Illustration by Algi Febri Sugita/SOPA Images/LightRocket via Getty ImagesNetflix said it's buying Hollywood titan Warner Bros. in a blockbuster deal.Reacting to the news, several industry professionals raised concerns.Some said the acquisition could lead to job cuts, while others worried it could stymy creativity.The critics have spoken, and the Netflix-Warne…
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