Hollywood Terrified as Netflix Buys Warner Bros: ‘The Day Theatrical Died’

By Adam Chitwood

Hollywood has unleashed a wave of fear that the Netflix acquisition of Warner Bros will further erode the struggling movie business and slant the Hollywood balance of power toward the streamer. 

“Terrible.” “It’s f–king insane.” “This will kill moviegoing,” a producer, publicist and filmmaker each told TheWrap separately. The reactions came fast and furious, and were almost unanimously negative. The industry is not only angry about the streaming giant buying up the iconic movie studio – it’s terrified.

Netflix Faces Tough Regulatory Mountain to Climb in Getting Warner Bros. Deal Done

By Lucas Manfredi

In a call with investors on Friday morning, Netflix co-CEO Ted Sarandos went into hard-sell mode, saying management was “highly confident in the regulatory process” and “running full speed” toward approval of its $82.7 billion deal to acquire Warner Bros. Discovery’s studio and streaming businesses.

“This deal is pro-consumer, pro-innovation, pro-worker, it’s pro-creator, it’s pro-growth, and our plans here are to work really closely with all the appropriate governments and regulators, but we’re really confident that we’re going to to get all the necessary approvals that we need,” Sarandos added. “These two businesses are complementary, and they’re also loved businesses, which is really fantastic.”

Will the Netflix-WBD Deal Be One Battle After Another for Awards Rivals?

By Steve Pond

Does the Warner Bros. Discovery deal mean that Netflix will finally win Best Picture at the Oscars?

That’s the obvious question in the awards arena now that Netflix and Warner Bros. have announced that the streaming giant is in exclusive deal talks to acquire the venerable Hollywood studio. After seven years of landing lots of Oscar nominations but never winning the big one, Netflix is working to take over the studio that released the clear favorite in this year’s race, Paul Thomas Anderson’s “One Battle After Another.”