"The world's largest streaming company swallowing one of its biggest competitors is what antitrust laws were designed to prevent,"
"The outcome would eliminate jobs, push down wages, worsen conditions for all entertainment workers, raise prices for consumers, and reduce the volume and diversity of content for all viewers."
"The proposed acquisition of Warner Bros. by Netflix poses an unprecedented threat to the global exhibition business,"
"The negative impact of this acquisition will impact theaters from the biggest circuits to one-screen independents."
Netflix proposed an $82.7 billion takeover of Warner Bros. Discovery's studio and streaming businesses. Major Hollywood groups including the Writers Guild oppose the deal on antitrust grounds, warning it would eliminate jobs, depress wages, worsen worker conditions, raise consumer prices, and reduce content volume and diversity. The deal arrives amid falling production, weak ticket sales and widespread layoffs in the industry. Warner Bros. generates roughly a quarter of North American box office revenue, and theater operators warn the acquisition threatens exhibition, from large chains to single-screen independents. Some filmmakers called the buyout a disaster.
Read at Fortune
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