Netflix co-CEO Ted Sarandos responds to criticisms over the streaming service’s proposed acquisition of Warner Bros. Discovery on ‘The Claman Countdown.’
Netflix co-CEO Ted Sarandos accused legendary director James Cameron of believing misinformation after Cameron criticized Netflix’s potential acquisition of Warner Bros. Discovery (WBD).
“I’m particularly surprised and disappointed that James chose to be part of the Paramount disinformation campaign that’s been going on for months about this deal,” Sarandos said on “The Claman Countdown” Friday.
Netflix announced its proposed acquisition of WBD, including HBO and HBO Max, in December. Days later, Paramount Skydance submitted a counter-all-cash offer.
Recently, Netflix has received an outpouring of criticism from some members of the Hollywood elite and California leaders over its proposed purchase of the studios.
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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 raised concerns about the deal in a letter to Sen. Mike Lee, R-Utah, chairman of the Senate Judiciary Subcommittee on Antitrust, Competition Policy and Consumer Rights.
In the letter, the “Titanic” and “Avatar” director said Netflix’s business model is “directly at odds” with the theatrical film production business.
“Theaters will close. Fewer films will be made. Service providers such as VFX companies will go out of business. The job losses will spiral,” the letter reads in part.
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Sarandos said he was “surprised” by Cameron’s criticism of Netflix’s proposed WBD acquisition.
“I met with James personally in late December and laid out for him our 45-day commitment to the theatrical exhibition of films and to the Warner Brothers slate,” the Netflix co-CEO said. “I have talked about that commitment in the press countless times. I swore under oath in front of the Senate subcommittee on antitrust that that’s what we were doing.”
Paramount is bidding against Netflix to acquire Warner Bros. Discovery and its streaming service HBO Max. (AaronP/Bauer-Griffin/GC Images / Getty Images)
Cameron has vocalized his concern that Netflix was pledging a theatrical release window of 17 days, but the company has repeatedly affirmed it will be 45 days.
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“45 days of theatrical exclusivity – that has been clear from the beginning,” Sarandos said. “I have never even uttered the word 17-day window.”
The Hollywood director also said Netflix would reduce the number of films WBD releases to theaters each year, currently about 15, a claim Sarandos rebuked.
“We will keep the Warner Brothers film and television studio running largely as it is today,” he told FOX Business. “Movies going to the theaters for 45 days, a healthy, robust slate of films every year. That is gonna continue.”
Netflix co-CEO Ted Sarandos insisted the streaming service would have better leadership over Warner Bros. Discovery, citing Paramount’s recent business struggles. ( Gabby Jones/Bloomberg via Getty Images / Getty Images)
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Sarandos also took aim at Paramount over its rival deal to purchase WBD, claiming it will cut $6 billion from WBD.
“The Paramount deal that’s floating around there and all the misinformation swirling around it is guaranteeing to cut jobs,” he said. “They’re guaranteeing to continue to make gigantic cuts to the entertainment industry. And then the alternative, we’re growing, growing, and they are promising to cut, cut, cut.”