Netflix-Warner Bros. Deal Threatens Theaters, Says Cinema United CEO

Concerns Over Netflix-Warner Bros. Deal

• ⚠️ Michael O’Leary, CEO of Cinema United, expresses significant opposition to the Netflix acquisition of Warner Bros., citing it as an unprecedented threat to the industry.
• 📢 He states that Cinema United is exploring all available avenues, including discussions with federal, state, and international regulators, to scrutinize the deal's potential impact.

Impact on Theatrical Exhibition

• 📉 O’Leary anticipates that the acquisition will lead to a decrease in the number of movies produced for theatrical distribution.
• 🎬 He points to historical precedents, such as the 20th Century Fox acquisition, which resulted in a 46% decrease in titles released by that studio.
• 📺 The concern is amplified because Netflix's core business is television, and they have historically shown little interest in theatrical exhibition.

Potential Consequences for the Industry

• 💔 The potential loss of the Warner Bros. catalog from theatrical release could be devastating, making it impossible for the industry to absorb such a loss.
• 🏘️ O’Leary warns that the deal could lead to theater closures, community suffering, and job losses.