Hollywood insiders disappointed with Netflix-Warner Bros. deal, according to reviews

Netflix has confirmed its acquisition of the iconic studio Warner Bros. in a major deal valued at $72 billion, pending regulatory approval. The announcement has sparked unease among many entertainment industry professionals.

Several insiders expressed worries that the merger could reduce creative opportunities and result in layoffs. By absorbing Warner Bros., Netflix would effectively consolidate a significant portion of Hollywoods film and TV production, potentially limiting options for creatives and audiences alike.

Jason Kilar, former CEO of WarnerMedia, commented on social media that selling Warner Bros. to Netflix could significantly reduce competition in Hollywood. Similarly, "Parks and Recreation" creator Mike Schur warned that media mergers often lead to fewer jobs for writers, actors, and directors, stating, Fewer companies means fewer jobs, period.

The Writers Guild of Americas East and West branches issued a statement noting that the deal could negatively impact employment, wages, and working conditions, while also decreasing the variety of content available to viewers. The Directors Guild of America echoed these concerns, emphasizing that creativity and competition could be stifled.

The acquisition also gives Netflix control over some of Hollywoods most famous intellectual properties, including The Wizard of Oz and the Harry Potter franchise. Director James Cameron criticized the deal, calling it a disaster and highlighting Netflixs historical preference for streaming over theatrical releases.

In response, Netflix has claimed that the merger will generate new jobs and maintain Warner Bros. existing operations, including its theatrical release schedule. Co-CEO Ted Sarandos stated the move is pro-worker and aimed at enhancing the industry.

Nevertheless, movie theater owners have raised alarms. Michael OLeary, president of Cinema United, warned that the acquisition threatens the global exhibition business. A European theater association shared similar concerns.

Industry insiders also noted that Netflixs expanded IP portfolio could challenge traditional theatrical windows. Currently, studio films play exclusively in theaters for 60 to 90 days, but Sarandos suggested that release schedules will evolve to meet consumer preferences.

Even before the deal was finalized, Hollywood legend Jane Fonda voiced apprehension about the broader implications of such mergers, citing risks to the industry, audiences, and potentially First Amendment principles.

Author: Aiden Foster