Netflix acquiring Warner Bros.
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Netflix and Warner Bros. Discovery agreed to a blockbuster deal. Here's what WBD CEO David Zaslav told his employees about the deal and what's next.
If the deal goes through, an algorithm-powered streaming titan would gobble up a 102-year-old movie studio synonymous with the romance of Old Hollywood.
Warner Bros. Discovery's board of directors have adopted a transaction bonus program designed to retain key executives through the closing of Netflix's $82.7 billion acquisition of its streaming and studio assets and the company's separation of its linear networks business into Discovery Global.
But, Netflix boss Ted Sarandos said on a call for investors after the deal was announced that the streamer will still release Warner Bros. films in cinemas – though he also hinted the exclusive window might shrink.
Ted Sarandos says Netflix is committed To Warner Bros. theatrical releasing. Trade group Cinema United called the deal a unprecendented threat to moviegoing.