DGA Raises Significant Concerns Over WBD-Netflix Negotiations
The Directors Guild of America (DGA) plans to meet with Netflix to address concerns related to the streaming service’s potential acquisition of Warner Bros. Discovery (WBD). This announcement follows Netflix’s successful bidding for WBD and the commencement of exclusive negotiations for the deal.
DGA’s Concerns Over Netflix’s Acquisition of WBD
A spokesperson for the DGA expressed that this acquisition raises “significant concerns” for the organization. Their primary focus is on maintaining a competitive entertainment industry that promotes creativity and protects the rights of directors and their teams.
Meeting to Discuss Future Implications
The DGA intends to meet with Netflix to discuss its vision for the future and to articulate the guild’s concerns. The statement emphasized their commitment to due diligence in this matter, indicating that comments would be limited until the meeting takes place.
Reactions from Other Unions
- The DGA is the first Hollywood union to respond to the breaking news regarding the acquisition.
- Both the Writers Guild of America East and West had previously stated their intentions to block any merger between WBD and Paramount.
- Their concerns emphasize that further media consolidation could negatively impact writers, consumers, and overall competition.
Context of the Acquisition
This development follows a tumultuous day in which Paramount sought to counter Netflix’s bid for WBD. Reports suggest that Netflix offered about $28 per share, predominantly in cash. WBD had recently opened itself to offers after receiving multiple bids from Paramount.
Warner Bros. Discovery aims to finalize a deal by mid-to-late December, as the competitive landscape of the media industry continues to shift dramatically.
