"Responses from the industry have been generally negative, sparking concern about the acquisition's implications for jobs, the future of theatrical releases, and the representation of diverse voices in film and TV. Netflix co-CEOs Greg Peters and Ted Sarandos have sought to address fears surrounding the deal in a letter to employees, which was made public by Bloomberg on Monday. The executives reassured staff of their commitment to maintaining theatrical releases for WBD films. They also asserted that there will be "no overlap or studio closures.""
"Despite these assurances, the Writers Guild of America (WGA) has emerged as a vocal opponent of the acquisition, arguing that it violates antitrust laws designed to prevent monopolies. Additionally, the deal has attracted the attention of lawmakers. Senators Elizabeth Warren, Bernie Sanders, and Richard Blumenthal submitted a letter to the Justice Department Antitrust Division expressing their concerns about the potential implications of a massive merger in the entertainment industry."
Netflix plans to acquire Warner Bros. Discovery for $82.7 billion, prompting widespread negative reactions across the industry concerned about jobs, theatrical releases, and representation of diverse voices. Co-CEOs Greg Peters and Ted Sarandos sent a letter to employees assuring continued theatrical releases, no studio overlap or closures, and describing the deal as growth that strengthens a major studio, supports jobs, and ensures a healthy future for film and TV production. The Writers Guild of America opposes the deal on antitrust grounds. Senators Warren, Sanders, and Blumenthal asked the Justice Department to examine market-power and consumer-cost implications. Peters and Sarandos cited Nielsen data indicating the combined viewership share would be smaller than YouTube's.
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