"As news around our deal with Warner Bros. continued this week, we wanted to keep you as informed as we can. Our position hasn't changed: we strongly believe that Netflix and Warner Bros. joining forces will offer consumers more choice and value, allow the creative community to reach even more audiences with our combined distribution, and fuel our long-term growth."
"Greg Peters and Ted Sarandos said a combined Netflix-Warner Bros is "pro-consumer, pro-innovation, pro-worker, pro-creator, and pro-growth." "We see this as a win for the entertainment industry, not the end of it," the Netflix co-CEOs wrote, addressing concerns that the combo of the studio giant and one of the most iconic studios could bring about "the end of Hollywood." "It's great for our shareholders, great for consumers, and a strong way to create and protect jobs in the industry," they wrote."
Netflix plans to acquire Warner Bros. from Warner Bros. Discovery for an equity value of $72 billion including debt, which would be the streamer's largest acquisition. Netflix co-CEOs called the combined company "pro-consumer, pro-innovation, pro-worker, pro-creator, and pro-growth" and described the merger as a win for the entertainment industry that will offer consumers more choice and value, expand creative distribution, and fuel long-term growth. Rival Paramount Skydance launched a hostile bid valuing WBD around $108 billion. Netflix leadership stated their deal protects jobs, benefits shareholders and consumers, and complements rather than duplicates existing capabilities.
Read at Business Insider
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