Netflix CEO Ted Sarandos promises Warner Bros films will still get traditional cinema releases if the streaming giant’s $83 billion acquisition succeeds.
PARIS: Netflix will continue to release Warner Bros films in cinemas if its proposed acquisition of the studio is successful.
Chief executive Ted Sarandos made the commitment during an interview at an event in the French capital on Tuesday.
“We’re going to continue to operate Warner Bros. studios independently and release the movies traditionally in cinema,” he said.
Sarandos acknowledged his past comments dismissing the cinema experience now “confuse people”.
He was previously critical of theatrical distribution, favouring the convenience of streaming.
The Netflix boss explained the streaming service only began producing its own content about twelve years ago.
“Our library only extends back a decade, where Warner Bros. extends back 100 years,” Sarandos said.
He added that Warner Bros possesses deep expertise in areas like theatrical distribution that Netflix lacks.
Netflix announced a deal in early December to acquire most of Warner Bros Discovery for USD 83 billion.
Regulatory approval for the massive deal remains uncertain, however.
Media group Paramount Skydance has since made a counter-offer valued at USD 108.4 billion.
A successful Netflix acquisition would grant it control of the HBO Max streaming platform.
Netflix CEO Ted Sarandos promises Warner Bros films will still get traditional cinema releases if the streaming giant’s $83 billion acquisition succeeds.
PARIS: Netflix will continue to release Warner Bros films in cinemas if its proposed acquisition of the studio is successful.
Chief executive Ted Sarandos made the commitment during an interview at an event in the French capital on Tuesday.
“We’re going to continue to operate Warner Bros. studios independently and release the movies traditionally in cinema,” he said.
Sarandos acknowledged his past comments dismissing the cinema experience now “confuse people”.
He was previously critical of theatrical distribution, favouring the convenience of streaming.
The Netflix boss explained the streaming service only began producing its own content about twelve years ago.
“Our library only extends back a decade, where Warner Bros. extends back 100 years,” Sarandos said.
He added that Warner Bros possesses deep expertise in areas like theatrical distribution that Netflix lacks.
Netflix announced a deal in early December to acquire most of Warner Bros Discovery for USD 83 billion.
Regulatory approval for the massive deal remains uncertain, however.
Media group Paramount Skydance has since made a counter-offer valued at USD 108.4 billion.
A successful Netflix acquisition would grant it control of the HBO Max streaming platform.
