Netflix Leadership Defends $82.7B Warner Bros. Deal Amid Rival Bid: Report

• Netflix’s leadership emphasized that Warner Bros films will continue to be released in cinemas.
• The letter follows a hostile bid by Paramount Skydance Corp. (PSKY) to take over Warner Bros. Discovery.

Netflix Inc. (NFLX) executives are reportedly defending their $82.7 billion agreement to acquire Warner Bros Discovery Inc. (WBD) following a competing hostile bid from Paramount Skydance Corp. (PSKY) 

According to a Bloomberg report, the co-CEOs of Netflix, Greg Peters and Ted Sarandos, outlined their position to employees on Monday, aiming to address worries over potential layoffs and the future of theatrical releases.

Commitment To Theaters And Jobs

Netflix’s leadership emphasized that Warner Bros films will continue to be released in cinemas, countering concerns that the streaming giant would favor a digital-first approach, stated the report. 

“We’re strengthening one of Hollywood’s most iconic studios, supporting jobs, and ensuring a healthy future for film and TV production.”

-Greg Peters and Ted Sarandos, Co-CEOs, Netflix 

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