Netflix says its position on deal with Warner Bros Discovery unchanged

Dec 15 (Reuters) – Netflix‘s (NFLX) decision to acquire assets from ​Warner Bros Discovery has ‌not changed and the hostile bid ‌from Paramount Skydance was “entirely expected”, its co-CEOs Greg Peters and Ted Sarandos said in ⁠a letter ‌to employees on Monday.

The streaming giant is committed ‍to theatrical releases of Warner Bros’ movies, saying it is “an important ​part of their business ‌and legacy”.

“We haven’t prioritized theatrical in the past because that wasn’t our business at Netflix. When this deal closes, ⁠we will be ​in that business,” ​the letter stated.

Netflix said its deal is “solid” and ‍it is ⁠confident that it is great for consumers and can ⁠pass regulatory hurdles.

(Reporting by Zaheer ‌Kachwala in Bengaluru; Editing ‌by Arun Koyyur)