Streaming giant Netflix has pledged to maintain traditional cinema releases for Warner Bros. movies if its proposed $83 billion acquisition of the studio is successful.
Netflix CEO Ted Sarandos made the commitment during an interview in Paris on Tuesday with Maxime Saada, head of France’s Canal+ group.
“We’re going to continue to operate Warner Bros. studios independently and release the movies traditionally in cinema,” Sarandos stated at the event.
He acknowledged that his past comments dismissing the cinema experience in favour of streaming convenience “now confuse people.” Sarandos highlighted the value of Warner Bros.’ century-long expertise, contrasting it with Netflix’s younger history.
“Our library only extends back a decade, where Warner Bros. extends back 100 years. So they know a lot about things that we haven’t ever done, like theatrical distribution,” the Netflix boss explained.
The announced deal, which would see Netflix acquire most of Warner Bros. Discovery (WBD), faces regulatory scrutiny. It has also been challenged by a higher $108.4 billion counter-offer for WBD from the Paramount Skydance group.
If successful, the acquisition would grant Netflix control of the HBO Max platform and a vast film library including major franchises like Harry Potter, The Lord of the Rings, and the DC superhero universe.
