Netflix executives seeking to calm fears

Warner deal would bring only a slight increase in share of TV viewing, they say.

- BY STEPHEN BATTAGLIO

THE HOLLYWOOD community is worried that Netflix's acquisition of Warner Bros. would eliminate jobs.

(ALLEN J. SCHABEN Los Angeles Times)

The co-chief executives of Netflix issued a letter Monday expressing confidence in their ability to close a proposed $72-billion acquisition of Warner Bros. while trying to allay fears the deal will hurt the entertainment industry.

The joint note filed with the Securities and Exchange Commission by Greg Peters and Ted Sarandos maintained that combining the streaming behemoth with the historic movie and TV studios and its HBO Max service “will offer consumers more choice and value, allow the creative community to reach even more audiences with our combined distribution, and fuel our long-term growth.”