Netflix says its position on deal with Warner Bros Discovery unchanged
Netflix’s decision to acquire assets from Warner Bros Discovery has not changed and the hostile bid from Paramount Skydance was "entirely expected", its co-CEOs Greg Peters and Ted Sarandos said in a letter to employees on Monday.
Dec 15 (Reuters) - Netflix’s decision to acquire assets from Warner Bros Discovery has not changed and the hostile bid from Paramount Skydance was "entirely expected", its co-CEOs Greg Peters and Ted Sarandos said in a letter to employees on Monday.
The streaming giant is committed to theatrical releases of Warner Bros’ movies, saying it is "an important part of their business and legacy".
"We haven’t prioritized theatrical in the past because that wasn’t our business at Netflix. When this deal closes, we will be in that business," the letter stated.
Netflix said its deal is "solid" and it is confident that it is great for consumers and can pass regulatory hurdles.
(Reporting by Zaheer Kachwala in Bengaluru; Editing by Arun Koyyur)
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