Warner Bros. Discovery CEO David Zaslav told staff Friday that the company’s pending sale to Netflix is unlikely to lead to sweeping layoffs, as the streaming service’s “intention is that they want to keep most people, because they don’t have a lot.”
“I understand that the last couple of weeks have been disruptive, and it’s tough to read about every day,” Zaslav said during a global town hall with Warner Bros. Discovery employees Friday following the announcement of the deal, a recording of which was obtained by Variety. “And where are we going to end up, and the idea of coming together with another company, there are going to be some trepidation. I understand that, but it is a good fit. The intention is that they want to keep most people, because they don’t have a lot; they don’t have a motion picture studio, they don’t have a big gaming business. And so the fit feels very good for our employees.”
Representatives for Warner Bros. Discovery did not immediately respond to Variety‘s request for comment on Zaslav’s remarks.
Announced Friday morning, Netflix’s planned purchase of Warner Bros. assets has a total enterprise value (including debt) of approximately $82.7 billion.
Confirmation of the deal came after a weeks-long bidding war that pitted Netflix against David Ellison’s Paramount Skydance and Comcast. News broke Thursday evening that Netflix had entered into exclusive negotiations with WBD on a deal for Warner Bros. and HBO Max.
In its joint announcement with Warner Bros. Discovery, Netflix said it expects “to maintain Warner Bros.’ current operations and build on its strengths,” including theatrical releases for films.
At present, Warner Bros. has pacts in place to release its film in theaters through 2029. On the streaming side, Zaslav confirmed to staff in the Warner Bros. Discovery town hall that HBO Max “will stay” a standalone service, and that the Warner Bros. TV studio division will make content for Netflix, HBO, HBO Max and outside platforms.
Love Film & TV?
Get your daily dose of everything happening in music, film and TV in Australia and abroad.
From Variety US