Netflix has entered exclusive talks to purchase Warner Bros. Discovery after outbidding Paramount and Comcast, according to Bloomberg.
As part of its bid to buy Warner Bros. Discovery, Netflix has pledged to continue releasing movies in theaters. The potential acquisition is still nonetheless expected to face antitrust scrutiny; earlier Thursday, an anonymous group of “concerned feature film producers” sent a letter to Congress warning about the deal’s implications, arguing it would “effectively hold a noose around the theatrical marketplace.”
Meanwhile, Paramount has argued that a Netflix acquisition would raise regulatory concerns, and has hinted at legal action if Warner Bros. Discovery pursued a deal with Netflix. It’s also worth noting that Paramount has the backing of the Trump administration.