Netflix co-CEO Ted Sarandos responds to criticism of the proposed acquisition of Warner Bros. Discovery by the streaming service in ‘The Claman Countdown’.
Netflix co-CEO Ted Sarandos accused legendary director James Cameron of believing misinformation after Cameron criticized the potential Warner Bros. acquisition. Discovery (WBD) by Netflix.
“I am especially surprised and disappointed that James has chosen to be part of Paramount’s disinformation campaign that has been going on for months about this deal,” Sarandos said Friday on “The Claman Countdown.”
Netflix has announced the proposed acquisition from WBD, including HBO and HBO Max, in December. Days later, Paramount Skydance submitted a cash counteroffer.
Recently, Netflix has received a barrage of criticism from some members of the Hollywood elite and California leaders over its proposed purchase of the studios.
Netflix co-CEO Ted Sarandos and legendary director James Cameron. (LEFT (Kevin Dietsch/Getty Images), RIGHT (Araya Doheny/Getty Images for SAG-AFTRA Foundation) / Getty Images)
Cameron expressed his concerns about the deal in a letter to Sen. Mike Lee, R-Utah, chairman of the Senate Judiciary Subcommittee Antitrust, competition policy and consumer rights.
In the letter, the director of ‘Titanic’ and ‘Avatar’ said Netflix’s business model is in ‘direct conflict’ with theater film production company.
“Theatres will close. Fewer films will be made. Service providers such as VFX companies will go bankrupt. Job losses will increase,” the letter reads in part.
Sarandos said he was “surprised” by Cameron’s criticism of Netflix’s proposed WBD takeover.
“I met with James in person at the end of December and outlined to him our 45-day commitment to the theatrical release of films and to the Warner Brothers slate,” said the Netflix co-CEO. “I’ve spoken about that commitment countless times in the press. I swore under oath to the Senate Antitrust Subcommittee that we did that.”
Paramount makes a bid against Netflix to acquire Warner Bros. Discovery and its streaming service HBO Max. (AaronP/Bauer-Griffin/GC Images/Getty Images)
Cameron has expressed concern that Netflix promised a 17-day theatrical release window, but the company has repeatedly confirmed that it will be 45 days.
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“45 days of theatrical exclusivity – that has been clear from the beginning,” Sarandos said. “I never even said the word 17-day window.”
The Hollywood director also said Netflix would reduce the number of films WBD releases in theaters each year, currently around 15, a claim Sarandos decried.
Netflix co-CEO Ted Sarandos emphasized that the streaming service would have better leadership over Warner Bros. Discovery, citing Paramount’s recent business troubles. (Gabby Jones/Bloomberg via Getty Images/Getty Images)
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Sarandos also targeted Paramount for his attack rival deal to buy WBDand claims it will cut $6 billion from WBD.
“The Paramount deal floating around out there and all the misinformation circulating around it guarantees job losses,” he said. “They guarantee that they will continue to make massive cuts in the entertainment industry. And then the alternative is: we grow, grow, and they promise to cut, cut, cut.”
