The leading US guilds have spoken out against Netflix’s proposed $82.7bn acquisition of Warner Bros Discovery’s (WBD) studios and streaming businesses, calling to block the deal and warning of job losses and a less competitive marketplace.
Writers Guild of America West and Writers Guild of America East said in a statement on Friday morning: “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 entertainment workers, raise prices for consumers, and reduce the volume and diversity of content for all viewers.
“Industry workers along with the public are already impacted by only a few powerful companies maintaining tight control over what consumers can watch on television, on streaming, and in theaters. This merger must be blocked.”
Producers Guild of America just released a statement that read: “Producers are rightfully concerned about Netflix’s intended acquisition of one our industry’s most storied and meaningful studios. For the last century, the entertainment industry has employed millions of Americans, delighted audiences, and showcased the very best of our nation at home and abroad.
“As we navigate dynamic times of economic and technological change, our industry, together with policymakers, must find a way forward that protects producers’ livelihoods and real theatrical distribution, and that fosters creativity, promotes opportunities for workers and artists, empowers consumers with choices, and upholds freedom of speech. This is the test that the Netflix deal must pass. Our legacy studios are more than content libraries – within their vaults are the character and culture of our nation.”
Directors Guild of America has said it will meet ith Netflix leadership to discuss concerns. “We believe that a vibrant, competitive industry — one that fosters creativity and encourages genuine competition for talent —is essential to safeguarding the careers and creative rights of Directors and their teams,” the guild said in a statement.
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