In a late-night letter to its 300 million subscribers worldwide, Netflix said nothing is changing in its operations. This e-mail comes in light of their gigantic $82.7 billion acquisition of Warner Bros. Discovery.
What did Netflix write?
In the letter to subscribers, Netflix wrote, "We recently announced that Netflix will acquire Warner Bros., including its film and television studios, HBO Max and HBO." They added, "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."
What is changing after the acquisition?
"Nothing is changing today. Both streaming services will continue to operate separately. We have more steps to complete before the deal is closed, including regulatory and shareholder approvals," Netflix wrote.
The streaming giant also wrote, "You'll hear from us when we have more to share. In the meantime, we hope you'll continue to enjoy watching as much as you want, whenever you want - all on your current membership plan."
What will happen to theatre releases?
A press release from the streaming organisation has made it a point that it "expects" to go on with the current operations of Warner Bros. and subsequently increase its strengths, including releasing films in theatres, The Hollywood Reporter said.
Paramount's hostile bid
On Monday, Hollywood giant Paramount Skydance made a hostile bid worth $108.4 billion countering Netflix's acquisition deal with Warner Bros. The major motive behind Paramount's hostile and humongous bid is it's target to surpass Disney in the US and Canada box office shares, NDTV reported.
