Unions fight £54bn Netflix deal to buy Warner Bros

US unions are calling for the Netflix and Warner Bros Discovery merger to be blocked.

- HENRY SAKER-CLARK

Streaming giant Netflix said on Friday that it had agreed to buy Warner Bros Discovery film and TV studios business in a $72bn (£54bn) deal. The Writers Guild of America West and Writers Guild of America East, which represent writers in film, television, radio and online media, issued a joint statement calling for the deal to be stopped. They said it would eliminate jobs, push down wages and worsen conditions for entertainment workers, among other things.

The statement said: “The world’s largest streaming company swallowing one of its biggest competitors is what antitrust laws were designed to prevent. The outcome would eliminate jobs, push down wages, worsen conditions for all entertainment workers, raise prices for consumers, and reduce the volume and diversity of content for all viewers.

“Industry workers along with the public are already impacted by only a few powerful companies maintaining tight control over what consumers can watch on television, on streaming, and in theatres. This merger must be blocked.”