James Cameron says Netflix’s acquisition of Warner Bros would be “disastrous” in new letter
James Cameron has hit out at the potential acquisition of Warner Bros by Netflix, claiming that it is likely to result in huge job losses.
The Avatar director clarified his stance in a pleading letter to lawmakers, which he sent to Senator Mike Lee, chair of the Senate subcommittee on antitrust.
The letter, obtained by CNBC, begins, “I believe strongly that the proposed sale of Warner Brothers Discovery to Netflix will be disastrous for the theatrical motion picture business that I have dedicated my life’s work to.”
He went on to caveat this by writing, “Of course, my films all play in the downstream video markets as well, but my first love is the cinema.”
Cameron went on to suggest that the potential deal will have an unhappy consequence on the industry: “Theaters will close. Fewer films will be made. The job losses will spiral.”
He continued earnestly, “The business model of Netflix is directly at odds with the theatrical film production and exhibition business, which employs hundreds of thousands of Americans.”
Cameron concluded, “It is therefore directly at odds with the business model of the Warner Brothers movie division, one of the few remaining major movie studios.”
The senator answered his pleading letter, admitting that he had received similar notes from “actors, directors, and other interested parties about the proposed Netflix and Warner Brothers merger, and I share many of their concerns. I look forward to holding a follow-up hearing to further address these issues.”
Recently, the Titanic mastermind also made his thoughts known about the state of the US, discussing his relocation to New Zealand: he deemed America “a place where everybody’s at each other’s throats, extremely polarized, turning its back on science.”
In the latest update on the merger, members of the US Senate antitrust subcommittee raised concerns about reduced competition, potential price rises, and the future of cinemas if the merger goes ahead.
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