This deal would place all of the broadcasting giant HBO’s brands under Netflix’s control, and would also hand over the reins of the historic Warner Bros. studio to them. Thus, the streaming platform, which has already significantly transformed Hollywood by accelerating the shift from watching movies in theaters to following them online, would take control.
This deal may result in Netflix, which has produced popular works such as “Stranger Things” and “Squid Game,” dominating Warner Bros.’s most prominent works such as “Batman” and “Casablanca.”
The Writers Guild of America said in a statement: “This merger must be prevented. The largest streaming company in the world swallowing one of its biggest competitors is what antitrust laws are designed to prevent.”
The deal is currently under antitrust reviews in both the United States and Europe, and a number of American politicians have expressed skepticism about it.
The union represents writers working in film, television, private channels, broadcast news, podcasts, and online media.
It noted concerns about job cuts and wage reductions, as well as higher prices for consumers and deteriorating conditions for workers in the entertainment industry.
Netflix announced that it expects to reduce annual costs by at least $2 billion to $3 billion by the third year after the deal is completed.
