Industry concerned after major deal between Netflix and Warner Bros. announced

(ASSOCIATED PRESS) — Netflix’s $72 billion deal to acquire Warner Bros. studio and its film and television operations drew quick reactions Friday.

Film and television industry entities including guilds and the lobbying group for movie theater owners criticized the deal, warning it would harm consumers and cinema owners.

In announcing the deal, Warner Bros. and Netflix executives touted the deal’s benefits. Warner Bros. Discovery CEO David Zaslav said the deal “will ensure people everywhere will continue to enjoy the world’s most resonant stories for generations to come,” while Netflix co-CEO Ted Sarandos said it would “give audiences more of what they love.”

Here’s a roundup of notable early reactions to the deal:

“Netflix’s stated business model does not support theatrical exhibition. In fact, it is the opposite. Theaters will close, communities will suffer, jobs will be lost.”

“Today’s news that Warner Bros. Discovery has accepted a purchase bid is an alarming escalation of the consolidation that threatens the entire entertainment industry, the democratic public it serves, and the First Amendment itself.” — in a statement

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