The bidding war to buy Warner Bros. continues, and companies like Netflix are revealing only minimal but key parts of their strategy. The streamer is making the heads of shareholders turn, as it has confirmed that if it were to win and acquire the studio that owns properties like the DCU and Harry Potter, it won’t stop theatrical releases. WB still has agreements to release films in theaters, and Netflix would honor those contracts. Those following the bidding war closely know that this is reason enough to breathe a sigh of relief, at least for now.
Bloomberg reports that if Netflix wins the bidding war, the streamer won’t mess with theatrical windows, and Warner Bros. films will still be released on the big screen. Of course, it’s all a promise by this point, and they could change this strategy at some point in the future. However, in terms of widespread fear over this merger, this is good news. Most of those opposing Netflix’s intention to buy WB feel that all the IPs belonging to the studio would instantly fall under the company’s policy to release on streaming, with extremely short theatrical windows for only a handful of films.
But at the moment, it’s all speculation. Netflix won’t publically reveal its massive plan until the offer to buy is accepted. Besides, the rest of the companies participating in the bidding could also send the Warner Bros. content to streaming if they wished to. All the biggest players have their own streaming platform to rely on. Netflix is just the black sheep of the group when it comes to theatrical releases, and past comments from Ted Sarandos don’t exactly help.
The Netflix CEO said months ago that he loves theaters, but believes “it is an outmoded idea, for most people — not for everybody.” He added: “What is the consumer trying to tell us? That they’d like to watch movies at home.” Although the mogul believes that Netflix is “saving Hollywood,” the streamer has not exactly changed its ways when it comes to theatrical strategies. Nevertheless, it is also a reality that Netflix has hosted projects that wouldn’t have a chance at being produced by other traditional studios.
What’s Next in the Bidding Wars To Buy Warner Bros.?
As Netflix announces its plans to continue with the theatrical releases produced under the Warner Bros. label, the bidding war continues. Today is the deadline for the preliminary first round bids, and Netflix, Comcast (which owns NBCUniversal), and Paramount Skydance remain the frontrunners for the acquisition. Strangely, others like Disney and Amazon are not part of this quest for a merger.
Each player holds an ace at this point. Either with strategies or presence in the mass media battlefield, each can offer something different. But in the end, it’s all about money and Warner Bros. Discovery CEO David Zaslav’s decision. As reported by Variety, an industry insider says, “Zaslav wants the biggest crown that gives him the biggest portfolio.” Obviously, it is also implied that he just wants to see who offers the most.
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