Members of the entertainment industry have reacted to Netflix's shocking deal with Warner Bros, with some calling it the "death of Hollywood". Announcing the news yesterday, the streaming giant revealed that it had acquired Warner Bros in an $87.2 billion deal, adding franchises like Harry Potter and Game of Thrones to its catalogue.
Following the bombshell announcement, many industry and non industry professionals have shared their response to the acquisition, which will see Netflix take over Warner Bros film and TV studios, HBO and HBO Max.
Taking to X, former WarnerMedia CEO Jason Kilar shared his thoughts on the deal, writing: "If I was tasked with doing so, I could not think of a more effective way to reduce competition in Hollywood than selling WBD to Netflix."
In their report, Deadline said they spoke to a number of international studio execs, with a leading UK film producer saying: "This feels like the death of Hollywood."
In a statement released on Friday, Democratic senator Elizabeth Warren called the move "an anti-monopoly nightmare," adding: "A Netflix-Warner Bros would create one massive media giant with control of close to half of the streaming market – threatening to force Americans into higher subscription prices and fewer choices over what and how they watch, while putting American workers at risk."
Warner Bros.
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The Writers Guild of America (WGA) also released a statement, saying: "The world's largest streaming company swallowing one of its biggest competitors is what antitrust laws were designed to prevent.
"The outcome would eliminate jobs, push down wages, worsen conditions for all enterta inment workers, raise prices for consumers, and reduce the volume and diversity of content for all viewers."
In an op-ed from Jane Fonda, the actor warned that the deal could mean "fewer jobs, fewer opportunities to sell work, fewer creative risks, fewer news sources and far less diversity in the stories Americans get to hear".
Netflix
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Deadline also reportedly spoke to another studio head who had a more positive outlook on the news, saying: "Netflix must feel that they are in such a strong financial position that it's too good of a move not to make. If they get WB, they get a dominant global position. It's a smart move."
Speaking about the deal, Ted Sarandos, co-CEO of Netflix said: "Our mission has always been to entertain the world. By combining Warner Bros' incredible library of shows and movies with our culture-defining titles... we'll be able to do that even better."
"Together, we can give audiences more of what they love and help define the next century of storytelling," he added.
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