Netflix assured subscribers that “nothing changes today” following its winning bid for Warner Bros. Discovery, telling customers there were “a few more steps to complete.”
The streamer sent out an email to subscribers on Friday evening, 24 hours after the news broke. A mega-deal was concluded between Netflix and WBD.
“We recently announced that Netflix will acquire Warner Bros., including its film and television studios, HBO Max and HBO,” the Netflix team wrote in an email to customers. “This combines our leading entertainment service with Warner Bros.” iconic stories bringing together some of the world's most beloved franchises such as Harry Potter, Friends, The Big Bang Theory, Casablanca, Game of Thrones and the DC Universe, as well as Stranger Things, Wednesday, The Squid Game, Bridgerton and KPop Demon Hunters.
Netflix went on to reassure its customers in the statement that “nothing is changing today.”
“Both streaming services will continue to operate separately,” Netflix added. “We still have several steps to complete before the transaction closes, including regulatory and shareholder approvals.”
Before signing off, Netflix told customers they'd hear from them “when we have more to share” and encouraged everyone to “enjoy watching as much as you want, whenever you want – all within your current membership plan.”
Netflix's message to customers came hours after the streamer said it expected to “save Warner Bros.” current activities and build on its strengths,” including theatrical film releases.
During an internal global meeting with WBD staff, participants on Friday's call were also told that “HBO Max is here to stay.”
Sarandos, in a separate note to investors, said: “HBO and HBO Max also provide consumers with a compelling, free value proposition. We expect these businesses, when combined, to create a stronger organization than any of us could achieve alone.”
Netflix emerged victorious in Warner Bros. bidding war. Discovery on Thursday, offering $27.75 per share for the studio and streaming assets.
However, the deal has already faced enormous opposition from industry representatives. Producers Guild of America, SAG-AFTRA, Drivers And WGA all expressed concerns about the acquisition.
Fast Netflix assures subscribers that “nothing changes today” after the Warner Bros. deal. Discovery: “We have a few more steps to take” first appeared on TheWrap.
