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Wow, some major news breaking here tonight. Warner Bros. Discovery has been for sale, with multiple studios looking to acquire WB and the HBO Max streaming service. Comcast and Paramount were always seen as the most serious bidders, with Netflix more on the outside, for various industry reasons. Well, that has not proven to be an impediment, as this even, reports are coming in that the streamer has emerged victorious to acquire WBD. More below.
According to The Hollywood Reporter, Netflix has won the battle for Warner Bros. Discovery, beating Comcast and Paramount. The once long shot bid by Ted Sarandos and Greg Peters for the streaming giant to acquire WBD seems to have been chosen by David Zaslav and company. A lot still has to happen, but if the deal goes down, the landscape of the entertainment industry is sure to change. We’ll be following this story as it updates, so be sure to check back in. For now, it seems like Netflix just flexed their muscles in a wholly unexpected way. Once again, wow.
Source: THR
Just in case anyone has forgotten this, the answer to “is this corporate acquisition good for the film industry and cinema in general?” is always “No.” Literally without exception. They’re bad for artists, bad for consumers, bad for everyone.
Unfortunately, yes. There was never any good options on the table, sadly.