Netflix Defends WBD Deal

Benzinga

Netflix’s co-CEOs defended their $82.7B bid for Warner Bros Discovery, promising full theatrical support and no job cuts. They say the deal poses fewer antitrust concerns than Paramount’s rival offer.

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00:00It's Benzinga, bringing Wall Street to Main Street.

00:03Netflix co-CEOs

00:04Greg Peters and Ted Sarandos defended the company's proposed $82.7 billion acquisition

00:10of Warner Bros. Discovery after Paramount Skydance launched a hostile bid for the studio.

00:16In a letter to employees on Monday, the executives pledged to continue releasing

00:20Warner Bros. movies in theaters. They said Netflix will be fully committed to the theatrical

00:24business once the deal closes. They also promised no studio closures or job cuts,

00:29calling the transaction a growth-focused move to strengthen a historic Hollywood studio.

00:34Netflix said,

00:35ViewShare data suggests the merger would raise fewer antitrust concerns than a Paramount-Warner

00:39Bros. tie-up. Paramount's competing offer values Warner Bros. at $108.4 billion.

00:45For all things money, visit Benzinga.com.

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