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business12h ago
Paramount accuses Netflix of ‘scorched-earth’ campaign against Warner Bros. deal
Nbcnews.com and 2 more
- Paramount Skydance frames Netflix as leading a panic-level, scorched-earth effort to poison regulators and other stakeholders against the Warner Bros. Discovery deal, signaling a high-stakes merger battle.
- Netflix rejects the characterization, saying it walked away months ago and leaves regulator decisions to authorities, framing the dispute as an industry-regulator issue rather than a Netflix failure.
- Paramount Skydance triumphed over Netflix in late February, with WBD shareholders approving the tie-up in late April, underscoring Paramount's aggressive bid.
- Regulators in the U.S. and abroad are scrutinizing the Paramount-Warner deal amid labor- and production-related concerns raised by groups including the Teamsters.
- The International Brotherhood of Teamsters warned the deal could threaten jobs and domestic production, urging safeguards to protect workers.
- Paramount Skydance CEO David Ellison pledged to release at least 30 feature films a year, aiming to sustain a robust production engine post-merger.
- Antitrust probes in California and the U.K. are examining the merger, signaling cross-border regulatory attention.
- Paramount argues the merger would boost content investment and competition, countering labor concerns by highlighting benefits to organized labor through increased production.
- The Teamsters' push to block the deal with safeguards is framed by Paramount as a protection of jobs and domestic production, tying labor concerns to merger outcomes.
- An open-letter-supported industry response, signed by over 1,000 entertainment professionals, warns that consolidation could reduce competition and harm audiences.
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