Regulators will see our deal for Warner Bros. as pro consumer, says Netflix co-CEO Greg Peters

Antitrust & Regulatory Approval - Netflix believes the acquisition of Warner Brothers Discovery will be approved by regulators because it is pro-consumer, pro-creator, pro-worker, pro-growth, pro-innovation, and pro-competition [3] - Netflix has already begun engaging with competition authorities, including the DOJ and EU Commission, to explain the benefits of the deal [5] - The Warner Brothers board believes there is no material difference in regulatory risk between the Netflix deal and the Paramount deal [2] - The US President and administration care about American industry and the success of American companies, which supports the deal [12] - The EU is also an important regulatory body, and Netflix is engaged with the EU Commission to highlight opportunities for European creators [14][15] Market Position & Competition - Netflix's TV viewshare is ranked sixth, behind Google (YouTube), Disney, Comcast (NBCU), Fox, and Paramount [4] - Even combined with HBO Max and HBO viewing, Netflix would still be behind YouTube and Disney [5] - New buyers like Amazon, Apple, and FAST services like Tubi are increasing competition for content creators [8] Deal Value & Strategy - Over 75% of HBO Max members also subscribe to Netflix, creating an opportunity to offer consumers better-optimized subscription plans [7] - Netflix sees tremendous value in the HBO brand and wants to see it thrive, using it as another tool for assembling plans and delivering different offerings [9][10][11][12] - The deal brings an important iconic studio into a sustainable model, leading to more investment, opportunities, American jobs, union jobs, and production staying in the United States [13][14] - The Warner Brothers catalog offers an incredible library of content that Netflix can bring to more people around the world, creating value for consumers and creators [15] - Netflix has created over 140,000 jobs in the United States in the last four years [13]