the Directors Guild of America (DGA) announced it will meet with Netflix to express “meaningful concerns” regarding the streaming giant’s potential acquisition of Warner Bros. Revelation (WBD).the move comes after reports surfaced Thursday night that Netflix had entered exclusive talks to acquire WBD, winning a bidding war against other potential buyers.
The DGA believes a competitive media landscape is crucial for protecting the careers and creative rights of directors and their teams. “we will be meeting with Netflix to outline our concerns and better understand their vision for the future of the company,” a guild spokesperson stated. “While we undertake this due diligence we will not be commenting further.”
This marks the frist response from a hollywood union to the latest growth in the WBD saga. In October, the Writers guild of America East and west jointly stated they planned to block any potential merger between WBD and Paramount, warning of the negative impacts of further media consolidation on writers, consumers, and competition.
Thursday’s developments included a last-minute push from Paramount to counter Netflix’s offer. Sources indicate Netflix proposed approximately $28 per share for WBD, primarily in cash.
WBD initiated a sale process in October after receiving three offers from Paramount, hoping to finalize a deal by mid-to-late December.
