The Directors Guild of America (DGA) is set to meet with Netflix to address its “significant concerns” regarding the streaming platform’s potential acquisition of Warner Bros. Discovery (WBD). This development follows the announcement that Netflix has secured the lead in bidding for WBD and will enter exclusive negotiations for the deal.
The DGA spokesperson stated that the acquisition raises vital issues for the guild, emphasizing the need for a competitive industry that nurtures creativity and offers fair opportunities for directors and their teams. “We believe that a vibrant, competitive industry — one that fosters creativity and encourages genuine competition for talent — is essential to safeguarding the careers and creative rights of directors and their teams,” the spokesperson commented. The guild plans to articulate its concerns during the upcoming discussions with Netflix and aims to gain clarity on the company’s vision moving forward.
The DGA is the first organization to express its apprehensions regarding the acquisition, but it is anticipated that others will follow. The Writers Guild of America (WGA), representing both East and West, previously issued a joint statement in October indicating their intention to resist any merger between WBD and Paramount. They warned that further consolidation in the media landscape could be detrimental to writers, consumers, and overall market competition.
Negotiations for WBD have intensified, particularly after Paramount responded aggressively to Netflix’s offer. Reports indicate that Netflix proposed approximately $28 per share for WBD, primarily in cash. Warner Bros. Discovery initiated the sale process in October after receiving multiple offers from Paramount. The company aims to finalize an agreement by mid-to-late December 2023.
As the landscape of media ownership continues to evolve, the implications of this potential acquisition could have far-reaching effects on the industry. The DGA’s proactive stance highlights the importance of maintaining a diverse and competitive environment within the entertainment sector. The outcome of the discussions between Netflix and the DGA may play a crucial role in shaping the future of creative opportunities for directors and other industry professionals.
