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Cameron: Netflix-WBD merger is a sinking ship
20 Feb
Summary
- Director James Cameron warned Senator Mike Lee about the merger.
- Cameron fears the deal could harm the theatrical motion picture business.
- The proposed merger is an $83 billion deal with potential impacts.
Filmmaker James Cameron has voiced strong opposition to the potential merger between Netflix and Warner Bros. Discovery, warning of its dire consequences for the film industry. Cameron directly communicated his concerns to Senator Mike Lee, who chairs a subcommittee on antitrust. He characterized the proposed $83 billion deal as potentially disastrous for the theatrical motion picture business, a sector he deeply values.
Cameron's primary apprehension is that the merger could effectively turn the theater-going experience into a "sinking ship." He also cautioned that such a consolidation might result in substantial job losses across Hollywood. This perspective adds significant weight to the ongoing legislative scrutiny of the deal.
Conversely, Netflix co-CEO Ted Sarandos has defended the acquisition before a Senate committee. Sarandos asserted that the merger would bolster the American entertainment sector, maintain consumer choice and value, and foster opportunities for creators. He highlighted Netflix's contributions, including over 155,000 American jobs and a $225 billion impact on the U.S. economy.
