Hollywood's Big Shake-Up: What Netflix's Mega Deal Means for Jobs and Movies

Netflix is considering a massive $72 billion deal to acquire Warner Bros Discovery. This isn't just any business move; it's a game-changer for Hollywood.

Potential Impact

• Control of Major Franchises: If the deal goes through, Netflix could gain control of major movie franchises like "Batman" and "Casablanca".
• Unions' Concerns: Unions are worried about potential job cuts and lower wages.
• Writers Guild: Concerned about the impact on workers and consumers.
• Theater Owners: Believe the deal could shrink the movie industry by a quarter.

Netflix's Stance

Netflix maintains that the deal is beneficial for everyone, promising:

• More shows
• More jobs
• More support for creative talent

Opposition

• Hollywood Teamsters: Against the deal, calling it a threat to good union jobs. They want the government to intervene.
• Directors Guild of America (DGA): Taking a wait-and-see approach, wanting to discuss with Netflix first.
• SAG-AFTRA: Watching closely, stating the deal raises serious questions and they are still assessing its impact.

Regulatory Hurdles

The deal is not finalized yet and must pass regulatory reviews in the U.S. and Europe.

One thing is clear: This deal could change Hollywood as we know it.