Netflix's $72 Billion Gambit: Hollywood Unites Against Warner Bros Takeover

Hollywood unions and theater owners are against Netflix's $72 billion acquisition of Warner Bros Discovery. Concerns include job cuts, increased power concentration, and decreased theatrical releases. The transaction undergoes antitrust evaluation in the US and Europe.

Hollywood unions and theater owners raised concerns on Friday about Netflix's proposed $72 billion acquisition of Warner Bros Discovery, cautioning the deal could result in job losses and reduced theatrical movie releases if it gains regulatory approval.

Protests from industry unions, including the Writers Guild and Hollywood Teamsters, emphasize the threat of job cuts and reduced union power. Netflix, known for series like 'Stranger Things,' might gain control over major Warner Bros titles, leading to antitrust scrutiny in the US and Europe.

Cinema United warns the merger could severely impact the domestic box office, while the Directors Guild of America and SAG-AFTRA remain cautious, seeking more clarity about Netflix's intentions for Warner Bros.