"The deal would mean the streamer would own some of the biggest franchises in the world: DC Comics, Game of Thrones, Harry Potter, Looney Tunes and more. Critics argue the deal would make Netflix too dominant in the entertainment industry, could mean fewer movies in theaters in favor of streaming at home, and potential price increases for Netflix because consumers will have fewer options."
"Theater industry groups and the Directors Guild of America expressed concern about the deal. Cinema United CEO Michael O'Leary said the transaction poses an unprecedented threat to the global exhibition business. On the other hand, fans of some of the Warner Bros. franchises said they were relieved Netflix pulled ahead of Paramount, which had also been trying to buy Warner Bros."
Netflix agreed to buy Warner Bros. Discovery for $72 billion, which would give Netflix ownership of major franchises including DC Comics, Game of Thrones, Harry Potter, and Looney Tunes. Critics warn the deal could make Netflix too dominant, reduce theatrical releases in favor of streaming, and enable price increases due to fewer consumer options. Theater industry groups and the Directors Guild of America expressed concern, and Cinema United CEO Michael O'Leary called the transaction an unprecedented threat to the global exhibition business. Some fans welcomed Netflix over Paramount. Paramount later launched a hostile $108.4 billion bid, and the Warner Bros. board is reviewing that proposal while maintaining its recommendation to sell to Netflix. Economists are divided, with one citing strategic expansion and another noting industry consolidation.
Read at www.sandiegouniontribune.com
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