CNBC·2026-02-19 19:17Core Viewpoint - The potential acquisition of Warner Bros. Discovery's film studio by Netflix is viewed as a significant threat to the theatrical film industry, with concerns about job losses and a negative impact on the U.S. economy [2][4]. Group 1: Concerns from Industry Figures - James Cameron has expressed strong opposition to the Netflix-Warner Bros. merger, stating it could be disastrous for the theatrical motion picture business [4]. - The broader filmmaking industry shares concerns that such mergers typically lead to fewer releases and reduced job opportunities [4]. - Lawmakers, including Senator Mike Lee, have received feedback from various industry stakeholders regarding the merger's potential negative implications [6]. Group 2: Netflix's Position - Netflix has outlined its commitment to the film and TV production industry, planning to spend $20 billion on film and TV by 2026, primarily in the U.S. [7]. - The company asserts that the merger will lead to increased production investments and job preservation, countering claims of potential layoffs [8][9]. - Netflix's leadership believes the acquisition will be beneficial for the media industry, promoting consumer interests and innovation [9][10]. Group 3: Market Dynamics - The merger would combine two major streaming services, Netflix with 325 million global subscribers and HBO Max with 128 million as of September 30 [5]. - There are concerns regarding how this merger would affect consumer choices and pricing in the streaming market [5].