Netflix has withdrawn from the bidding war for Warner Bros. Discovery, leaving Paramount Skydance positioned to complete the acquisition. The announcement came late Thursday at the London premiere afterparty for Warner Bros.' film The Bride!, eliciting relief among attendees but mixed reactions from global industry players. Concerns focus on consolidation's impact on film production and bargaining power, though some see benefits for theatrical releases.
The news broke during the afterparty for Maggie Gyllenhaal's gothic romance The Bride! at a London event attended by stars including Jessie Buckley, Christian Bale, and Jake Gyllenhaal, as well as Warner Bros. executives like co-CEO Pam Abdy. Guests reported a sense of relief after months of intense competition involving David Ellison of Paramount Skydance, Netflix's Ted Sarandos, and Warner Bros. Discovery's David Zaslav. However, California's attorney general noted the deal is not yet finalized.
International reactions blend optimism and caution. In the UK, Picturehouse's Clare Binns praised Paramount's support for theatrical windows but expressed worry over future film output: "The Warner Bros. slate over the last 12 months has been outstanding — all brilliant, original, bold films. I am very concerned about the merger and what it’s going to look like for the kind of films we’re going to see being made."
Vue CEO Tim Richards called it the best outcome: "You have a highly respected filmmaker in David Ellison, with a strong track record in theatrical releases." In Germany, producer Martin Moszkowicz highlighted risks of fewer global buyers leading to tougher negotiations, though he noted Paramount's theatrical lean could benefit local markets. Europe's UNIC CEO Laura Houlgatte stressed the need for diverse slates and exclusivity periods, urging regulatory scrutiny.
In France, FNCF president Richard Patry welcomed Ellison's pledges on theatrical output but insisted on formal commitments: "What matters to us is that these commitments are not just in a letter, but formally taken before the competition authorities." National Film Board head Gaetan Bruel acknowledged potential challenges but saw opportunities for reinvention amid a 30% global box office drop over five years.
Analyst Francois Godard warned that Paramount's control could give it more leverage over exhibitors compared to Netflix's 45-day window assurances. Sarandos criticized the involvement of sovereign funds from Saudi Arabia, UAE, and Qatar as a potential regulatory issue. In Southeast Asia, distributor Phong Duong viewed it positively for theatrical emphasis, while Indian filmmaker Anurag Kashyap hoped it bolsters cinemas.
The merger's regulatory review remains ongoing, with hopes it influences broader industry strategies toward theaters.
