Paramount's takeover bid for Warner: Netflix is acting like nothing's wrong!

Speaking Monday at the UBS Global Media and Communications conference, Netflix co-CEOs Ted Sarandos and Greg Peters asserted that their acquisition of Warner Bros. and HBO Max "will create and preserve jobs in the entertainment industry." Ted Sarandos doesn't want to change anything, really? Asked about the main concern expressed by the film industry—namely, the fear that the platform would drastically reduce the theatrical release window for Warner Bros. films—Sarandos assured everyone that there are no plans to alter the way the studio releases its films in theaters: "We didn't buy this company to destroy that value. We are deeply committed to releasing Warner Bros. films exactly as they are today… If we had made this deal 24 months ago, all Warner Bros. films… that did so well in theaters this year would have been released the same way, in theaters: I'm talking about Minecraft, Superman, Weapons, Sinners, all those films. With the Warner Bros. operating entity, we believe that the way it creates and generates value is truly essential.” He also confirms that Warner Bros. Television, which currently produces and licenses content to third parties in addition to powering its own HBO Max platform, will continue to operate in this way: “Channing (Dungey) and his team are doing a phenomenal job, and we want them to continue doing that phenomenal job.” According to him, Netflix acquiring HBO would allow the latter to remain HBO, without having to perform “acrobatics” to transform itself into a general entertainment brand, as was the case during the Discovery acquisition. He clarifies: “We are already a very well-established general entertainment brand, and we want HBO to further strengthen what people have loved about HBO for 50 years… That’s what we’re going to continue to do.” Netflix very confident in its ability to acquire Warner. In short, one really wonders why Netflix is acquiring Warner for billions of dollars only to, officially, change nothing. At the same time, promises are only binding on those who believe them: for now, the platform is banking on the prospect of the deal going through despite Paramount’s takeover bid. Sarandos, for his part, remains calm and declares: “We have an agreement, and we are extremely pleased with it… We are very confident in our ability to see this through and finalize the deal.” To be continued.