Netflix, Warner Bros. and Movies
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While the letter to shareholders means Paramount's offer is not the one favored by Warner's board, shareholders have the ultimate say.
The studio owns the only remaining massive trove of iconic IP in Hollywood. No wonder Ted Sarandos and David Ellison are battling to lock it up.
Theater owners fear a sale of Warner Bros. to another major media player could further decrease movie production at a time when the industry has faced multiple setbacks.
Netflix co-CEO Ted Sarandos tells Canal+ upfronts that Warner Bros. films will get traditional theatrical windows and flow through output deal.
The visit came on the same day that WBD's board officially rejected Paramount Skydance's hostile bid for the company.