Ted Sarandos, co-CEO of Netflix, recently expressed surprise and disappointment at James Cameron’s critical remarks regarding Netflix’s potential acquisition of Warner Bros. Discovery (WBD). Sarandos accused Cameron of validating misinformation perpetuated by Paramount.
In a segment on “The Claman Countdown,” Sarandos remarked, “I am particularly surprised and disappointed that James has chosen to participate in Paramount’s ongoing disinformation campaign for months regarding this deal.”
Netflix’s plans to acquire WBD, which encompasses HBO and HBO Max, were initially announced in December. Shortly after, Paramount Skydance submitted an all-cash counteroffer, which complicated matters.
The streaming giant has faced significant backlash from several Hollywood figures and Californian officials about the proposed acquisition.
Cameron, known for films like “Titanic” and “Avatar,” articulated his concerns in a letter addressed to Senator Mike Lee, who chairs the Senate Judiciary Subcommittee on Antitrust, Competition Policy, and Consumer Rights. He argued that Netflix’s model contradicts the traditional theatrical film production business.
His letter warned that, if the deal goes through, it could lead to fewer films being produced, resulting in theater closures and job losses in the VFX and service sectors.
Sarandos expressed bewilderment over Cameron’s position. “I met privately with James in late December to explain our 45-day commitment to theatrical screenings and Warner Bros. policies,” he said. He also emphasized, “I have sworn under oath in front of the Senate Antitrust Subcommittee that that is what we were doing.”
Despite Cameron’s concerns regarding a supposed 17-day theatrical release, Sarandos firmly stated, “45 days of theatrical exclusivity—that was clear from the beginning. I have never said the words 17 days.”
Cameron claimed that Netflix’s acquisition would diminish the number of films WBD releases each year, currently around 15. Sarandos countered this assertion, insisting that operations at Warner Bros. would proceed largely as they are, maintaining a robust lineup of films annually.
Additionally, Sarandos criticized Paramount for its competing acquisition intentions, alleging that such actions could lead to $6 billion in cuts at WBD. He noted, “They’re guaranteeing the entertainment industry that they’re going to continue to make huge cuts. And in return, we’re growing and growing and they’re promising to cut, cut, cut.”
