Hollywood Teamsters (Local 399), released a statement on Friday condemning the agreement between Warner Bros. Discovery and Netflix to enter talks on an acquisition deal.
The full statement from Local Principal Officer and Teamsters At-Large VP Lindsay Dougherty can be read below:
“Today’s announcement shared by Netflix that they have entered into a definitive agreement under which Netflix will acquire WB, including its film and TV studios, HBO Max and HBO, is yet another call for alarm as we continue to see these corporate giants seek mergers and billion-dollar fast track consolidation deals.
Netflix is the biggest streaming service in the world. Consolidating its power over the streaming video market not only kills jobs but also raises prices and hurts the U.S. entertainment industry.
Teamsters have been clear on our position that greed-fueled consolidation of corporate power, no matter what industry, is a direct threat to good union jobs, the livelihood of our members and the very existence of our industry.
Competition among these companies has built the infrastructure to create diversified content and storytelling, and in that, a workforce to support and grow the film and television industry. Before Netflix won the streaming wars, workers and consumers benefited from robust competition. The golden age of TV meant more jobs and more choices for consumers. In an already shrinking market, these mergers, alongside the infiltration of big tech, should be of great concern as we navigate an uncharted future.
Teamsters will continue to challenge and call for the opposition across all levels of government and that antitrust enforcers reject this deal and any other deal seeking the consolidation of power and market.”
‘ The preceding article may include information circulated by third parties ’
‘ Some details of this article were extracted from the following source www.thewrap.com ’
