As of last week, Netflix has entered a acquisition of Warner Bros. studio and streaming business, unanimously approved by the boards of directors for both companies. This punctuates the end of a high stakes bidding war between Netflix and Paramount for the studio—the result of a failed strong-arm on Paramount’s end, and a successful manoeuvre on Netflix’s. It’s a historic achievement beset by its ambiguous legal standing, given the monopoly Netflix would wield over the entertainment industry.
Beyond questions of this monopoly arise those regarding the future of cinemas, particularly independent cinemas. After all, Netflix CEO Ted Sarandos has been an infamous champion for experiencing movies via streaming platforms rather than viewing them in theatres. In response to backlash about the deal, and where it will leave cinemas, Netflix has committed to honouring existing 45-day theatre-runs for Warner Bros. releases.
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