In a recent exchange regarding the ongoing bidding war for Warner Bros. Discovery, Netflix co-CEO Ted Sarandos has firmly countered the arguments presented by filmmaker James Cameron, who has endorsed Paramount’s position. During an appearance on the Fox Business Network’s The Claman Countdown, Sarandos expressed his disappointment that Cameron participated in what he termed a “disinformation campaign” by Paramount aimed at swaying lawmakers.
Cameron previously voiced concerns in a letter to Senator Mike Lee (R-Utah), warning that a potential acquisition of Warner Bros. by Netflix could significantly harm movie theaters and lead to job losses. He claimed that Sarandos was proposing a 17-day theatrical window for Warner Bros. films, a statement Sarandos vehemently denied. “I have never even uttered the words ‘17-day window,’” Sarandos clarified, asserting that Netflix intends to provide a 45-day theatrical window for Warner Bros. movies.
The debate over the length and number of theatrical releases has become a pivotal issue in this bidding competition. While the government scrutinizes Netflix’s streaming dominance, it is equally concerned about the future of Warner Bros. film releases should Netflix succeed in its acquisition. Cameron warned that a reduction in theater business would negatively impact the entire film industry.
Sarandos also pointed out that Paramount’s push for approximately $6 billion in cost savings could escalate to $16 billion, potentially leading to layoffs and fewer film productions. In contrast, Sarandos highlighted Netflix’s significant contributions to the entertainment sector, including plans for $20 billion in production spending by 2026, most of which will occur in the United States. He emphasized that Netflix is shifting several projects from overseas to New Jersey, where it already operates 11 film productions. This decision aims to stimulate local economies, benefiting various sectors like hospitality and transportation.
In a letter to Senator Lee following Cameron’s remarks, Sarandos firmly asserted that the director was distorting Netflix’s commitment to theatrical releases, reiterating the company’s dedication to maintaining a robust slate of films in theaters for an extended period.
As this high-stakes bidding war unfolds, the discussions highlight the intricate relationships in the film industry and the significant implications for moviegoing culture and the economy at large.