WASHINGTON—The Antitrust Division of the U.S. Department of Justice has approved the proposed $111 billion acquisition of Warner Bros. Discovery (WBD) by Paramount Skydance, saying “the impact of the transaction will be to increase competition across the media and entertainment ecosystem, with benefits for American consumers and workers.”

The deal still faces possible opposition from the European Union, which has not yet concluded its investigation, from state Attorneys General. California Attorney General Rob Bonta is still reviewing the deal and could still file a lawsuit to block it, as state AGs did in the case of the Nexstar/Tegna deal, which also passed reviews by the DoJ and the Federal Communications Commission.

After an eight month investigation that involved reviewing more than 2 million documents, the Antitrust Division issued a statement late Friday June 12 noting that “based on the evidence received in its investigation that the transaction is not likely to result in harm to competition or American consumers, including with respect to: (1) streaming video on demand (SVOD); (2) linear television; and (3) studio development, production, or distribution of films for theatrical release.”

In terms of the streaming marketplace, the Division reported that the “evidence reviewed and carefully analyzed by the Division indicates that, post-merger, competition in SVOD is not likely to be harmed. To the contrary, the combined firm is likely to increase competition by offering consumers a more robust competitive alternative to the larger SVOD offerings.”

One of the more controversial aspects of the merger was its potential impact on Hollywood production and employment. “The substantial body of evidence available to the Division indicates that the transaction is not likely to harm competition in studio development, production, or distribution of films for theatrical release,” the DoJ argued in a statement. “Instead, the evidence shows extensive competition within the industry, which has generated greater output and diversity of film offerings, and is likely to continue unabated. In fact, even since the transaction was announced, the evidence shows competition for theatrical production and distribution has increased. Smaller studios have turned to innovative content development and distribution strategies to challenge traditional assumptions regarding the conditions necessary for successful theatrical release. Indeed, this remains true looking even at narrow categories like “tentpole” or `blockbuster’ theatrical production and distribution.”

The full statement is available here.

LOS ANGELES—Netflix announced it has entered into an agreement to acquire the assets of Warner Bros. for $82.7 billion.

The transaction—which includes the acquisition of WB’s film and TV studios, HBO Max and HBO—is expected to close after the previously announced separation of Warner Bros. Discovery’s Global Networks division, Discovery Global, into a new, publicly traded company, which is now expected to be completed in Q3 2026. Netflix said the acquisition of Warner Bros. is expected to close in “12-18 months.”

'Leveraging Strengths'
The acquisition will bring such classic movies as “The Wizard of Oz,” and the lucrative DC Universe franchise, as well as TV shows such as “The Big Bang Theory,” “The Sopranos“ and “Game of Thrones,” to Netflix’s lineup.

In June, WBD announced plans to split the company into two, saying that the separation "will invigorate each company by enabling them to leverage their strengths and specific financial profiles."

In October, WBD made public its plans to put the division up for sale. “It’s no surprise that the significant value of our portfolio is receiving increased recognition by others in the market,“ WBD CEO David Zaslav said. At that time potential suitors for all or part of the company had included Paramount, Comcast NBCUniversal and some major tech companies such as Amazon and Apple.

Ted Sarandos, co-CEO of Netflix hailed the agreement.

“Our mission has always been to entertain the world,” sSarandos said. “By combining Warner Bros.’ incredible library of shows and movies—from timeless classics like ‘Casablanca’ and ‘Citizen Kane’ to modern favorites like Harry Potter and Friends—with our culture-defining titles like ‘Stranger Things,’ ‘KPop Demon Hunters’ and ‘Squid Game,’ we'll be able to do that even better. Together, we can give audiences more of what they love and help define the next century of storytelling.”

“This acquisition will improve our offering and accelerate our business for decades to come,” continued Greg Peters, co-CEO of Netflix. “Warner Bros. has helped define entertainment for more than a century and continues to do so with phenomenal creative executives and production capabilities. With our global reach and proven business model, we can introduce a broader audience to the worlds they create—giving our members more options, attracting more fans to our best-in-class streaming service, strengthening the entire entertainment industry and creating more value for shareholders.”

Added Zaslav: “Today’s announcement combines two of the greatest storytelling companies in the world to bring to even more people the entertainment they love to watch the most. “For more than a century, Warner Bros. has thrilled audiences, captured the world’s attention, and shaped our culture. By coming together with Netflix, we will ensure people everywhere will continue to enjoy the world’s most resonant stories for generations to come.”

Netflix said it expects “to maintain Warner Bros.’ current operations and build on its strengths, including theatrical releases for films,” and that adding “deep film and TV libraries” to its library,” will allow the streamer to “optimize its plans for consumers, enhancing viewing options and expanding access to content.”

Whether that leads to subscription hikes is yet to be determined.

Netflix says the merger will lead to “a stronger entertainment industry… more opportunities for the creative community… and more value for shareholders," but many in Hollywood are skeptical.

Yesterday, Variety reported that an anonymous collective identifying themselves only as “concerned feature film producers” sent an open letter to members of both parties in Congress, claiming that the acquisition could “destroy” the theatrical film marketplace by altering the amount of time Warner Bros. films would be shown in theaters before streaming on a Netflix-HBO Max streaming platform.

The group claimed that the Netflix-WBD combination would wield too much market influence and “effectively hold a noose around the theatrical marketplace.”

Likewise, former WarnerMedia CEO Jason Kilar tweeted on X yesterday that the deal could decimate competition. “If I was tasked with doing so, I could not think of a more effective way to reduce competition in Hollywood than selling WBD to Netflix,” he posted.

Transaction Details and Timing
Under the terms of the agreement, each WBD shareholder will receive $23.25 in cash and $4.501 in shares of Netflix common stock for each share of WBD common stock outstanding at the closing of the transaction. The transaction values Warner Bros. Discovery at $27.75 per share, implying a total equity value of approximately $72.0 billion and an enterprise value of about $82.7 billion

The newly separated publicly traded company holding the Global Networks division, Discovery Global, will include the company’s internatiional pay TV properties such as CNN, TNT Sports in the U.S., and Discovery, free-to-air channels across Europe, and digital products such as Discovery+ and Bleacher Report.

The transaction was unanimously approved by the boards of both Netflix and WBD, the companies said. The deal is subject to the separation of Discovery Global and to required regulatory approvals, the approval of WBD shareholders and other customary closing conditions.

EL SEGUNDO, Calif. —DirecTV is adding an array of new free ad-supported streaming TV (FAST) linear content offerings from the Warner Bros. Discovery portfolio. Four new channels debuted on July 30, and the remaining 12 channels will be added in the coming months.

The combination of 16 Warner Bros. Discovery FAST services spans several of the most popular genres, including entertainment, film, and unscripted programming; food, home, and travel; history and learning; science fiction and supernatural; and other key categories.

Starting with the four new channels launched July 30, the entire portfolio will be made available to all DirecTV satellite-free streaming customers at no cost via MyFree DIRECTV, which has surpassed 110 channels since its November debut, and provides consumers a curated experience of the best of the fast-evolving and often-overwhelming FAST universe.

“This Warner Bros. Discovery portfolio is a great addition to our fast-growing MyFree DIRECTV lineup, which continues to connect deeply devoted fans to a wide variety of their favorite programming at no cost,” said Kent Rees, General Manager at MyFree DIRECTV. “MyFree DIRECTV plays an important role in the new DirecTV experience by introducing many people to our service – for free – for possibly the first time, or enhancing choice and value among the millions of consumers we already serve.”

Beginning today, DirecTV homes can watch dedicated channels of hit WBD series Mythbusters and Say Yes to the Dress, as well as travel staples Beach Day and Bizarre Foods. Other Warner Bros. Discovery FAST channels coming to MyFree DIRECTV soon include At the Movies, Classic Cinema, Crime Scenes, Ghosts Are Real, How To, I (Almost) Got Away with It, Living with Evil, Love Kills, Mysterious Worlds, Primetime Soaps, The Repair Shop and Sweet Escapes.

WBD FAST channels are also available on Tablo, AMG's Local Media Now as well as Tubi, The Roku Channel and Plex.

NEW YORK—In the run-up to its previously announced plans to separate into two companies in mid-2026, Warner Bros Discovery has released the names of the two new companies and unveiled their executive leadership.

When the company separates next year, the assets that it has referred to as "Streaming & Studios," will be called Warner Bros. That new company will include Warner Bros. Television, Warner Bros. Motion Picture Group, DC Studios, HBO, HBO Max and Warner Bros. Gaming Studios, as well as WBD’s film and television libraries.

The other company, which has been known as “Global Networks” will be named Discovery Global. The new Discovery Global will include worldwide entertainment, sports and news television brands including CNN, TNT Sports in the U.S., Discovery, and top free-to-air channels across Europe, as well as digital products such as the Discovery+ streaming service and Bleacher Report. The properties of Discovery Global deliver content to 1.1 billion unique viewers in 68 local languages across 200 countries and territories, WBD said.

The leadership team at the newly created Warner Bros. will include David Zaslav, currently president and CEO of Warner Bros. Discovery. He will serve as president and CEO; other top executives in the split-off Warner Bros. will be:

• Pam Abdy, co-chair and CEO, Warner Bros. Motion Picture Group.
• Priya Aiyar, chief legal officer.
• Casey Bloys, chairman and CEO, HBO and HBO Max.
• Bruce Campbell, chief operating officer.
• Mike De Luca, co-chair and CEO, Warner Bros. Motion Picture Group.
• Channing Dungey, chairman and CEO, Warner Bros. TV Group.
• Robert Gibbs, chief communications and public affairs officer.
• James Gunn, co-chairman and CEO, DC Studios.
• Lori Locke, chief accounting officer (reporting to the chief financial officer).
• JB Perrette, CEO, president of streaming and games.
• Peter Safran, co-chairman and CEO, DC Studios.
• Avi Saxena, chief technology officer (reporting to Perrette).

"We will proudly continue the more than century-long legacy of Warner Bros. through our commitment to bringing culture-defining stories, characters and entertainment to audiences around the world," said Zaslav. "Over the past several years, we have made important strides across the business, launching and investing in a profitable, global streaming service and reinvigorating our studios to return them again to an industry leading position. With our unmatched portfolio of storytelling IP coupled with our incredible creative partners, and now an executive team of proven, bold, and committed creative and corporate leaders, we are in a strong position to launch and continue to meaningfully grow a company worthy of our storied past."

The leadership team at Discovery Global includes Gunnar Wiedenfels, currently CFO of Warner Bros. Discovery, who will serve as President and CEO. Other top executives include:

• David Duvall, chief technology officer.
• Amy Girdwood, chief people and culture officer.
• Ryan Gould, president, U.S. ad sales GTM (reporting to Zeiler).
• Anil Jhingan, Chief Development Officer
• Kasia Kieli, president and MD, Poland, and CEO, TVN.
• Fernando Medin, president, International.
• Scott Miller, president, distribution (reporting to Zeiler).
• Fulvia Nicoli, executive vice president, content strategy and insights (reporting to Zeiler).
• Brian Rauch, chief accounting officer (reporting to Woodford).
• Luis Silberwasser, chairman and CEO, TNT Sports.
• Mark Thompson, chairman and CEO, CNN Worldwide.
• Sue Underwald, chief legal officer.
• Bobby Voltaggio, president, U.S. ad sales platform monetization (reporting to Zeiler).
• Fraser Woodford, chief financial officer.
• Gerhard Zeiler, president, U.S., U.K. and Germany, Discovery+, and chief content officer.

"As we prepare for the launch of Discovery Global, our enthusiasm for the opportunities ahead only grows thanks to our leading portfolio of beloved brands and programming, our worldwide footprint for adults, kids, and families, and now the experienced and talented leadership team who will ensure strong operational execution to drive strategic investments and deliver compelling content to global audiences," Wiedenfels said.

Warner Bros. announced that it has begun searches for both the CFO and chief people and culture officer roles.

Discovery Global reported that it is looking to hire a chief communications and public affairs officer.

Warner Bros. Discovery's Max streaming services has finally set a launch date for "Dune: Part Two" with the announcement that the film will begin streaming on Thursday May 21. 

Warner Bros. Pictures and Legendary Pictures’ blockbuster, which has produced over $710 million at the box office worldwide, continues the adaptation of Frank Herbert’s acclaimed bestseller Dune with returning and new stars, including Oscar nominee Timothée Chalamet, Zendaya, Rebecca Ferguson, Oscar nominee Josh Brolin, Oscar nominee Austin Butler, Oscar nominee Florence Pugh, Dave Bautista, Oscar winner Christopher Walken, Léa Seydoux, Souheila Yacoub, with Stellan Skarsgård, with Oscar nominee Charlotte Rampling, and Oscar winner Javier Bardem. 

"Dune: Part Two" explores the mythic journey of Paul Atreides as he unites with Chani and the Fremen while on a path of revenge against the conspirators who destroyed his family, the studio said. Facing a choice between the love of his life and the fate of the known universe, he endeavors to prevent a terrible future only he can foresee. 

AMSTERDAM—Organizers of IBC 2023 have announced several award winners, including Warner Bros. Motion Picture Group as this year’s recipient of the International Honor for Excellence Award (IHFE). 

IBC is recognizing Warner Bros. on the 100th anniversary of its founding by Albert, Sam and Jack Warner. The IHFE is among a series of special IBC awards for the best in innovation and change in media and entertainment. It will be presented on Sunday, Sept. 17, during the IBC Innovation Awards ceremony in the IBC Premiere Lounge at RAI Amsterdam.

“Warner Bros. Motion Picture Group has been a leading creative force in media and entertainment since its inception 100 years ago and remains an industry trailblazer,” said IBC CEO Michael Crimp. “Warner Bros.’ work has had a profound impact on our industry and society over the last century and continues to do so today, shaping our culture and our understanding of the world around us through its films, television programming and other productions.”

IBC is honoring Warner Bros. in recognition of its lasting and transformative industry innovations in feature films, television, direct-to-consumer production, animation, comic books, video games and themed entertainment. The studio’s content library is vast, encompassing more than 145,000 hours of programming.

In a joint statement released by Michael De Luca and Pam Abdy, co-chairs and CEOs of the studio, the pair said: “We are delighted to accept IBC’s International Honor for Excellence award in the studio’s 100th year. Warner Bros. has always been at the forefront of the industry because of its commitment to innovative storytelling, and we want nothing more than to continue that legacy.” 

Other announced winners include:

• 2023 Special Award for Innovation: German DVB-I Pilot, a project with the goal of advancing the DVB-I standard to enable ongoing use of linear TV programming.
• Best Technical Paper: Mark Waddell, Ian Wagdin, David Butler, Sam Yoffe, Kenny Barlee, Douglas Allan, Malcolm Brew and Robert Stewart for their paper on the deployment of a standalone 5G non-public network at the coronation of King Charles III.
• Changemaker Award (a Social Impact Award): Eurovision Song Contest.
• Special Award for Social Impact: Women in Streaming Media Mentorship Program.

IBC runs Sept. 15-18 at the RAI Amsterdam. Online registration is open.

More information is available on the IBC website.

BURBANK, Calif.—Amid growing studio interest in Web3 experiences, Warner Bros. Home Entertainment has announced that it is working with content blockchain provider Eluvio to release the Superman Web3 Movie Experience on June 9. 

The release of Superman Web3 Movie Experience follows the 2022 first-of-its-kind Web3 entertainment offering The Lord of the Rings: The Fellowship of the Ring (Extended Edition) Web3 Movie Experience.

The Superman Web3 Movie Experience is available for preview at https://web3.wb.com and opening for purchase on June 9. 

The studio explained that the Superman Web3 Movie Experience is a multimedia NFT that allows fans to own and to engage with the 1978 Richard Donner film starring Christopher Reeves. Through dynamic menu options based on iconic locations from the film, owners can watch the film in 4K UHD on desktop, mobile, tablet or TV, access special features, view image galleries and artist renderings by notable DC artists, discover digital easter eggs, as well as sell the experience in a community marketplace. 

Warner Bros. is offering the Superman Web3 Movie Experience in standard and premium editions:

• Standard edition ($30 for 1 week from 8:00AM ET on June 9 to 7:59AM ET on June 16) includes an interactive location-based navigation menu, Superman: The Movie Theatrical Version, previously released special features and an image gallery featuring stills and behind the scenes galleries.
• Premium edition ($100 for 24 hours from 8:00AM ET on June 9 to 7:59AM ET on June 10) includes 3 different variations available for purchase separately, Truth, Justice, and Hope, each featuring an illustration of Christopher Reeves’ Superman from one of three DC artists - Ivan Reiss, Ben Oliver, or Bill Sienkiewicz. Each variation includes an interactive and explorable location-based navigation menu and 3 versions of the feature film – Superman: The Movie Theatrical Version; Superman: The Movie Expanded Director’s Cut; and Superman: The Movie Extended TV Edition - along with previously-released special features, and image galleries featuring costume and detail images from the Warner Bros. Archive and stills and behind the scenes galleries.

The Superman Web3 Movie Experience will include a free voucher code for a DC3 Super Power Pack: Series Superman from the DC NFT Marketplace, offering 3 randomly selected Superman comics with rarities from Common to Legendary. These packs are time-gated, open edition drops, limited to one per account. There will be new themed packs launching every few weeks, the studio said.  

BURBANK, Calif—Discovery CEO David Zaslav has announced that the combined Discovery, Warner Media assets will be officially known as “Warner Bros. Discovery.”

 “We love the new company’s name because it represents the combination of Warner Bros.’ fabled hundred year legacy of creative, authentic storytelling and taking bold risks to bring the most amazing stories to life, with Discovery’s global brand that has always stood brightly for integrity, innovation and inspiration,” Zaslav said in making the announcement.

Zaslav, who will lead the merged company, unveiled the new name to WarnerMedia employees at the Warner Bros. studio lot in Burbank.

The logo for the combined company includes a tag line, “the stuff that dreams are made of” from the classic Warner Bros. film “Maltese Falcon,” as an homage to the rich legacy of Warner Bros. and statement about the focus of proposed company, the company reported.  

In May, AT&T and Discovery reached a definitive agreement to combine WarnerMedia’s premium entertainment, sports and news assets with Discovery’s nonfiction and international entertainment and sports businesses to create a single company. The deal is expected to close in mid-2022.

BURBANK, Calif.—Warner Bros. Pictures Group has announced that all of its 2021 slate of films will be made available on the HBO Max streaming platform the same day as the movies are scheduled to be released in theaters in the same distribution plan that it previously announced for “Wonder Woman 1984.”

Much anticipated films like “Matrix 4,” “Dune,” Lin-Manuel Miranda’s “In the Heights,” the Denzel Washington-starring “The Little Things” and the Lebron James-led “Space Jam” sequel will be available for free to subscribers on the WarnerMedia-owned HBO Max streaming service for 31 days, after which point they will play exclusively in theaters with customary distribution windows.

In its announcement, Warner Bros. called the move a “consumer-focused distribution model” made in light of the ongoing pandemic. However, the studio says that it only intends to adhere to the model for one-year as it believes that most U.S. theaters will continue to operate at a reduced capacity throughout 2021, even if/when a vaccine for COVID-19 becomes available.

“With this unique one-year plan, we can support our partners in exhibition with a steady pipeline of world-class films, while also giving moviegoers who may not have access to theaters or aren’t quite ready to go back to the movies the chance to see our amazing 2021 films,” said Ann Sarnoff, chair and CEO, WarnerMedia Studios and Networks Group.

WarnerMedia says that it will highlight “the unique opportunity to see our films domestically via HBO Max” in addition to what it says will be its traditional marketing campaigns for theatrical debuts.

While not directly mentioned in the announcement, another factor in this decision is the potential it has to bring in subscribers to HBO Max. The streaming service has gotten off to a slower start compared to some of its other streaming competitors, most notably Disney+. Disney adjusted some of its theatrical distribution plan in the last year—releasing a filmed stage production of the hit musical “Hamilton” free to subscribers and offering the anticipated “Mulan” live action film at a premium cost—that helped boost its subscriber numbers.

One factor in why HBO Max has had some early struggles is that it launched without being available on Amazon Fire and Roku devices. It has since become available on Amazon Fire, but is still not available on Roku.

HBO Max’s new strategy will kick off with the release of “Wonder Woman 1984” on Dec. 25.

NEVADA CITY, CALIF.—Warner Bros. International Television Production Belgium has announced it recently implemented a Vantage transcode server, file-based content ingest platform and workflow automation system from Telestream. This file-based workflow can support ingest, transcoding, archiving, media asset management and storage.

The new workflow integrates Telestream Vantage alongside production and MAM systems from Avid and CatDV, and an archive system from Oracle/Archiware. Warner Bros. reports that the integration of all the systems is a key part of the operation of production at the Belgium facility.

Warner Bros. previously tested the system with a Thailand-based TV production. The workflow was able to ingest 30 TB of data on at least 750 XDCAM HD discs to the Avid Isis storage and the CatDV MAM. All footage was accessible on-premise as well as in the cloud.

Telestream is a provider of live and on-demand digital video tools and workflow technology.

BERKSHIRE, ENGLAND—Marquis’ Project Parking archive retrieving system has been selected by Warner Bros. Television Production U.K. to aid with the parking of projects.

Greg Light, senior edit assistant, Warner Bros.

With Project Parking now developed to be an Avid storage management system, WBTVP U.K. will use the system to manage Avid projects on its 250 TB EditShare and 96 TB Isis storage. Project Parking is also being used to move projects that started on EditShare to Avid Isis storage.

“The workspace analysis in Project Parking is now key in offering a clear view of storage usage per production/project,” said Greg Light, senior edit assistant at Warner Bros. “Finding orphaned files or those that have been saved to incorrect locations is also very useful.”

Marquis Broadcast is a provider of technology that moves media and metadata between different systems in broadcast and post-production workflows. The company is based in Berkshire, England.