Hollywood is bracing itself for more belt-tightening and job losses if Netflix’s $83bn deal to acquire Warner Bros goes through, following demands from entertainers and the industry’s powerful unions for regulators to block the transaction.
The Hollywood screenwriters’ guild joined cinema owners — who have long criticised Netflix’s reluctance to widely distribute films for the big screen — in urging the deal to be blocked. Actress Jane Fonda said the proposed deal “threatens the entire entertainment industry”.
“Lay-offs and the future of [cinematic releases] are the two things the industry is most worried about,” said Stephen Galloway, dean of Chapman University’s Dodge College of Film and Media Arts.
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