We are offering a limited cyber sale now that offers you savings of 75% at $1 a week. Don't miss out. Sign up now.Greetings!Less than two hours after yesterday's WrapPro Daily published, we confirmed that Netflix had won the bidding war and secured exclusive talks with Warner Bros. Discovery to acquire its streaming and studio assets. This morning, Netflix made it official, announcing its $82.7 billion acquisition. It's a coup for Netflix, a company that just two months ago was throwing shade at the idea of major deals, with Paramount seemingly in the driver's seat on acquiring WBD. But now comes the hard part. Netflix said it expects to close the acquisition in 12 to 18 months. That could be a difficult stretch with the streaming giant likely to face intense scrutiny from regulators like the U.S. Department of Justice, with early reports suggesting stiff opposition. Beyond the Justice Department and the White House, which also seemed to suggest a preference for Paramount as the acquirer, Netflix could face opposition from state attorneys general, including California AG Robert Bonta, who already opposed the Paramount deal and further consolidation in general. Then there's Hollywood, which is absolutely terrified. In today's lead story by our Adam Chitwood, everyone from filmmakers to producers and agents expressed their concern that the deal could pose an existential threat to theaters and limit opportunities for creatives working on new projects. SAG-AFTRA said the deal "raises many serious questions," while DGA, PGA and Teamsters echoed those concerns with varying levels of alarm. Netflix has said it intends to keep HBO largely running as is, but given its history of disrupting and upending how Hollywood is operating, there's valid concern over what it will do with this storied legacy studio. On that note, have a great weekend! You can expect even more Netflix-WBD coverage next week. Roger Cheng 
Netflix's deal has unleashed a wave of fear that the balance of power will continue to shift toward the stream... 
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