Key Highlights
- The trade association outlined its concerns over consolidation in a statement to a House Judiciary antitrust subcommittee, which is holding a hearing on Wednesday on competition in digital streaming.
- Related Stories News White House Posts Unusual Tony Dokoupil 'CBS Evening News' Segment Saluting Marco Rubio For His Many Jobs In Trump Administration News 'Squid Game: The Experience': Actors' Union Equity Raises Concerns About Working Conditions On London Event “We are deeply concerned that this acquisition of Warner Bros.
- by Netflix will have a direct and irreversible negative impact on movie theatres around the world,” Cinema United said in its statement.
- “Such an acquisition will further consolidate control over production and distribution of motion pictures in the hands of a single, dominant, global streaming platform in a market that is already highly concentrated.
- The impact will not only be felt by theatre owners, but by movie fans and surrounding businesses in communities of all sizes.” The group added, “If Paramount or another major studio ends up displacing Netflix as the buyer, our concerns are no less serious.
