Dec 4 (Reuters) – A consortium of leading film industry figures has urged the U.S. Congress to intervene, warning of a looming economic and institutional crisis in Hollywood if Netflix succeeds in acquiring Warner Bros Discovery, Variety reported on Thursday. Reuters could not independently verify the report. Comcast declined to comment. Netflix, Warner Bros Discovery […]
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Film producers lobby Congress against Netflix-Warner Bros Discovery acquisition, Variety reports
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Dec 4 (Reuters) – A consortium of leading film industry figures has urged the U.S. Congress to intervene, warning of a looming economic and institutional crisis in Hollywood if Netflix succeeds in acquiring Warner Bros Discovery, Variety reported on Thursday.
Reuters could not independently verify the report. Comcast declined to comment. Netflix, Warner Bros Discovery and Paramount Skydance did not respond to requests for comment outside regular business hours.
Netflix has emerged as the top bidder for Warner Bros Discovery, Reuters reported on Thursday, raising the stakes in a potential deal that could reshape the media landscape.
In an email to members of Congress, the consortium, calling themselves “concerned feature film producers”, said they left their letter unsigned out of fear of retaliation, citing Netflix’s significant clout both as a buyer and distributor, according to Variety.
The group, which Variety described as including several prominent filmmakers, urged lawmakers in the House and Senate to publicly oppose the acquisition and ensure the proposed deal faces “the highest level of antitrust scrutiny”.
Warner Bros Discovery has reportedly received sweetened offers from potential bidders, including Paramount Skydance, Comcast and Netflix, earlier this week, after it asked them to improve on initial bids submitted in late November.
(Reporting by Rishabh Jaiswal in Bengaluru; Editing by Janane Venkatraman)