It should come as no surprise that the Writers Guild of America is not pleased about the latest development in the Warner Bros. Discovery acquisition saga.
After the news broke Thursday that Paramount had outbid Netflix for the legacy studio, the WGA East and West weighed in via a joint statement on Friday, once again condemning any act of corporate consolidation.
“The combination is different but the outcome is the same: the proposed Paramount-Warner merger would consolidate control of two major film and television studios and streaming services, and two of the largest employers of writers,” the statement read. “The loss of competition would be a disaster for writers, consumers and the entire entertainment industry. This merger must be blocked.”
This is similar to the sentiment from the writers guild since Netflix first struck a deal for Warner Bros. in December, calling the move “what antitrust laws were designed to prevent.”
So far, all the other Hollywood-adjacent unions have declined to comment about this recent news. Many have expressed concerns about any potential merger, but none have taken a hard-line position the way that the WGA has.
During a conversation with reports in January, DGA President Christopher Nolan acknowledged “in an ideal world it would continue to function as an independent buyer [and] distributor. That would be the best thing for all members.” However, he also urged that union leadership is “trying to evaluate the reality of this situation.”
As of Friday, Warner Bros. Discovery is selling itself to Paramount for $31 a share in cash in a deal worth $110 billion. The companies unveiled their formal agreement on Friday, after WBD jilted Netflix, saying it received a Superior Proposal from the David Ellison company. Netflix had four days to match but declined immediately and walked away, leaving Paramount triumphant after a months-long hostile takeover attempt to pry apart its rivals.
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