Netflix insists “nothing is changing today” after Warner Bros Discovery deal
Netflix has reassured subscribers to their platform that nothing is changing yet, after they released a public statement confirming their acquisition of Warner Bros Discovery.
On December 5th, Netflix released a public statement that confirmed an agreement had been reached to acquire Warner Bros Discovery for $72billion. As part of the deal, they have also acquired HBO Max and HBO.
In a new letter sent to subscribers 24 hours after the news first broke, Netflix gave their first indication of when the huge changes are set to take place.
“We recently announced that Netflix will acquire Warner Bros., including its film and television studios, HBO Max and HBO,” the email first read.
It continued, “This unites our leading entertainment service with Warner Bros.’ iconic stories, bringing some of the world’s most beloved franchises like Harry Potter, Friends, The Big Bang Theory, Casablanca, Game of Thrones and the DC Universe together with Stranger Things, Wednesday, Squid Game, Bridgerton and KPop Demon Hunters.”
Despite the huge merger, Netflix were adamant in their message that “nothing is changing today.”
The email elaborated, “Both streaming services will continue to operate separately. We have more steps to complete before the deal is closed, including regulatory and shareholder approvals.”
Additionally, Netflix co-CEO Ted Sarandos gave an update on what the release window of productions will look like in the future. He shared, “My pushback has been mostly in the fact of the long exclusive windows, which we don’t really think are that consumer-friendly.”
Sarandos went on, “I think, over time, the windows will evolve to be much more consumer-friendly, to be able to meet the audience where they are quicker…”
While the two companies have reached an agreement, it is yet to be signed off on by the relevant authorities and will likely be scrutinised by competition regulators in the United States.
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