US EditionNetflix says its position on deal with Warner Bros Discovery unchanged
- In a memo filed with the SEC on Monday, Greg Peters, co-CEO, and Ted Sarandos, co-CEO, reaffirmed Netflix's commitment to a $72 billion equity acquisition of Warner Bros. assets.
- On Dec. 5, Netflix announced a definitive agreement to buy Warner Bros. with an $82.7 billion enterprise value, and Paramount Skydance quickly answered with a hostile $108.4 billion bid.
- Peters and Sarandos said Netflix pledged to preserve theatrical releases for Warner Bros. films, calling it an important part of their legacy and insisting the deal supports jobs without studio closures.
- Facing scrutiny, regulators and lawyers note Netflix is confident it will secure approvals, but the Justice Department Antitrust Division may oppose the deal, risking a $5.8 billion breakup fee if blocked.
- Industry observers note Netflix cited Nielsen data showing its U.S. view share would rise from 8% to 9%, still trailing YouTube's 13% and a potential Paramount/WBD combination at 14%, with the deal shaping the streaming wars.
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Netflix's co-executive directors, Greg Peters and Ted Sarandos, sent a letter to the employees to reassure them of the possible acquisition of Warner Bros Discovery (WBD), assuring that there will be no closures of studies or overlaps of functions. In the document, collected this Monday by Bloomberg, Peters and Sarandos argue that the operation seeks to "strengthen one of the most iconic studios in Hollywood, support employment and guarantee a s…
Netflix CEOs Send Letter to Employees About Warner Bros. Deal
Netflix co-CEOs Greg Peters and Ted Sarandos have addressed some concerns about the company’s upcoming deal to acquire Warner Bros. Discovery for $82.7 billion in a letter sent to employees. The letter, shared by Business Insider, reiterates Netflix’s commitment to releasing Warner Bros. films in theaters, writing “We haven’t prioritized theatrical in the past because […] The post Netflix CEOs Send Letter to Employees About Warner Bros. Deal app…
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