European cinema trade body the UNIC has come out against Netflix‘s planned $82.7 billion takeover of Warner Bros., saying the deal will be bad news for the theatrical business.
In a statement on Friday, issued shortly after Netflix and Warner Bros. made the takeover bid official, the UNIC said the proposed deal “represents a double risk” with fewer films being produced and fewer of those being made getting released in cinemas.
“As elsewhere, cinemas in Europe rely on one product for their viability: films. And to ensure they can attract and successfully serve the widest possible audience, that flow of content needs to be consistent and diverse, with an exclusive period of release supported by effective marketing,” the statement reads. “By that measure, the planned acquisition of Warner Bros. by Netflix fails in every regard.”
Källa: European Theater Owners Group Opposes Netflix-Warner Bros. Megadeal
