Terminator and Avatar creator James Cameron's word carries a lot of weight in Hollywood, and the filmmaker recently weighed in on Netflix's proposed merger with Warner Bros. Pictures.
In a letter to Senator Mike Lee (R-Utah), the filmmaker backed Paramount Skydance, reminding him of Netflix CEO Ted Sarandos's past comments that movie theaters are an "outdated concept." Expressing several concerns, Cameron questioned the streamer's promises and called its current theatrical releases a "token" gesture meant to help them qualify for Academy Awards.
He added, "I am but a humble movie farmer. And I see my future creativity and productivity directly threatened by this proposed sale."
With Paramount back in the mix to purchase Warner Bros. Discovery—whoever ultimately wins the day will have an unprecedented level of power in the film and TV industry—Netflix has hit back at the Aliens helmer.
Appearing on Fox Business Network's The Claman Countdown (via SFFGazette.com), Sarandos said, "I’m particularly surprised and disappointed that James chose to be part of the Paramount disinformation campaign that’s been going on for months about this deal."
"I have never even uttered the words '17-day window.' So I don’t know where it came from or why he would be part of that machine," the executive said of Cameron's claim that Netflix will not commit to a 45-day theatrical window. "Movies go into the theaters for 45 days, a healthy, robust slate of films every year, that is going to continue. This deal is contingent on that for us to — for it to work."
Sarandos has sent a letter of his own to Lee, stating that Cameron "knowingly misrepresents our position and commitment to the theatrical release of Warner Bros. films."
Earlier this week, we learned that Warner Bros. Discovery is mulling over Paramount Skydance's latest acquisition offer, despite setting a date—March 20—for shareholders to vote on its planned deal with Netflix.
By re-engaging with David Ellison and Paramount, the hope is to secure a "best and final" offer from the company...which, ultimately, may force Netflix to pay significantly more for WBD. Either way, it's a win/win situation for David Zaslav and his fellow executives.
While Netflix is currently looking to acquire Warner Bros.' film and television assets for $27.75 per share, Paramount is willing to go upwards of $31 per share. It's unclear whether Paramount will accept WBD's offer to re-engage; the alternative is pursuing a proxy fight to get board members to vote down the Netflix deal next month.
Paramount is clearly determined to derail the previously agreed $82.7 billion Netflix deal. Netflix's offer is only for Warner Bros. Pictures and HBO/HBO Max. The Ellisons, meanwhile, want the entire company, including cable channels like CNN, TNT, Discovery, HGTV, and Food Network.
As always, keep checking back here for updates as we have them.