While the industry is occupied with the battle between Netflix and Paramount Pictures for Warner Bros., the streaming giant reaffirms its theatrical release plans for future WB movies. It was officially confirmed three days ago that Netflix would be buying Warner Bros. Discovery Inc. in a multi-billion-dollar deal, before Paramount launched a hostile takeover bid today (December 8).
Warner Bros. will review Paramount’s new offer and announce its decision within 10 business days. As Netflix still wants its deal to go through, its co-CEOs Ted Sarandos and Greg Peters have commented to assuage one major concern about what the streaming giant’s acquisition of the legacy Hollywood studio would mean, concerning theatrical release plans.
Deadline reports that the Netflix executives joined a Wall Street call today, where Sarandos assured them that Netflix would continue to give would-be Warner Bros. movies traditional theatrical releases.