The Writers Guild of America West and Writers Guild of America East jointly denounced Netflix’s $82.7 billion acquisition of Warner Bros. Discovery on Friday, calling for the impending merger to be blocked.
“The world’s largest streaming company swallowing one of its biggest competitors is what antitrust laws were designed to prevent,” the unions’ statement read.
“The outcome would eliminate jobs, push down wages, worsen conditions for all entertainment workers, raise prices for consumers and reduce the volume and diversity of content for all viewers,” it continued. “Industry workers along with the public are already impacted by only a few powerful companies maintaining tight control over what consumers can watch on television, on streaming, and in theaters. This merger must be blocked.”
More to come …
