US EditionNetflix struggles to defend Warner Bros merger at US Senate hearing
- DGA President Christopher Nolan confirmed the guild held discussions with Netflix and Paramount about Warner Bros. Discovery bids, calling the meetings `productive` and `we're sort of in the thick of it`.
- Nolan warned consolidation and theatrical-window shifts threaten DGA members' earnings, pressing for longer theatrical windows to protect residuals that fund health benefits.
- Netflix switched its offer to an all-cash bid valuing Warner Bros. Discovery assets at $27.75 per share, while Paramount Skydance launched a hostile bid including cable networks.
- The DGA hasn't chosen a side and remains in active talks with bidders, warning a merger could mean job losses and the loss of Warner Bros. Discovery as a major studio.
- Antitrust analysts note streaming-market shares and broader competition from social platforms, with Netflix holding 21%, HBO Max 13%, and Disney+ 12%.
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Netflix co-CEO grilled by senators as Warner Bros. deal sparks monopoly concerns: ‘One platform to rule them all’
Senators grilled Netflix Co-CEO Ted Sarandos on Tuesday at a hearing over how his company's proposed $82.7 billion acquisition of Warner Bros. Discovery will affect competition across the entertainment industry.
Republicans haul Netflix before Congress for being too ‘woke’
Netflix Co-CEO Ted Sarandos (L) and Warner Bros. Discovery Chief Revenue and Strategy Officer Bruce Campbell testify before the Senate Judiciary Committee Subcommittee on Antitrust, Competition Policy, and Consumer Rights | Getty Images Netflix CEO Ted Sarandos was launched into the middle of a congressional culture war on Tuesday as he testified before a Senate subcommittee about the company's attempt to buy a large part of Warner Bros Discove…
Netflix Co-CEO Faces Grilling by US Senate Panel Over Warner Bros Deal
U.S. senators grilled Netflix Co-CEO Ted Sarandos on Tuesday at a hearing over how his company’s proposed $82.7 billion acquisition of Warner Bros Discovery will affect competition across the entertainment industry. U.S. Senator Mike Lee led the hearing in which Sarandos and Bruce Campbell, Warner Bros’ chief strategy officer, testified. While the Senate cannot itself prohibit the deal, the lawmakers demanded details on how the transaction would…
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