"The proposed acquisition of Warner Bros. by Netflix poses an unprecedented threat to the global exhibition business. The negative impact of this acquisition will impact theaters from the biggest circuits to one-screen independents in small towns in the United States and around the world,"
"Regulators must look closely at the specifics of this proposed transaction and understand the negative impact it will have on consumers, exhibition and the entertainment industry."
"Driving folks to a theater is just not our business."
Netflix agreed to buy Warner Bros. Discovery's studio and streaming businesses for $83 billion, with the transaction pending regulatory approval and expected to take effect in Q3 next year. Cinema United warns the deal threatens multiplexes worldwide, asserting negative impacts for large circuits and one-screen independents and urging regulators to scrutinize consumer and industry harms. A coalition of feature-film producers warned Congress that Netflix could "destroy" the theatrical marketplace by shrinking or eliminating theatrical windows, accelerating Netflix-HBO Max releases after as little as two weeks, cutting new-film production, and depressing post-theatrical licensing fees. Industry concern centers on concentrated studio-plus-streaming scale squeezing theaters and reducing film output.
Read at Vulture
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