Netflix-Warner Bros Acquisition Deal Faces Huge BACKLASH From Hollywood Guilds: It'll Eliminate Jobs, Creative Rights...

Netflix's

deal to acquire Warner Bros. Discovery's studios and streaming business is facing a lot of opposition from the movie moghuls. In what is being deemed as a huge move that'll have far-reaching effects on Hollywood, both Writers Guild of America (WGA) and Directors Guild of America (DGA) have opposed the $83 billion potential acquisition deal.

Directors Guild of America raise concerns

On December 5, it came to fore that the Directors Guild of America, led by president and legendary filmmaker Christopher Nolan, plans to meet Netflix executives to address major concerns regarding the streamer's move of taking full control over Warner Bros. According to a Deadline report, a guild spokesperson said the development "raises significant concerns for the DGA."DGA's statement added, "We believe that a vibrant, competitive industry — one that fosters creativity and encourages genuine competition for talent — is essential to safeguarding the careers and creative rights of directors and their teams. We will be meeting with Netflix to outline our concerns and better understand their vision for the future of the company. While we undertake this due diligence we will not be commenting further."On December 4, news broke that Netflix had won the bidding war for the Warner Bros, and the streaming giant would now enter exclusive talks to secure a deal with the legacy media company.ALSO READ: Netflix-Warner Bros Acquisition: Anonymous A-Listers Lobby Against Move, Warn Against Hollywood Meltdown

Writers Guild of America opposes Netflix-Warner Bros. deal

WGA also joined the industry guilds against Netflix's plan. It warned that the mega deal would eliminate jobs, reduce wages, and raise prices for consumers.Variety quoted WGA in a statement: "The world’s largest streaming company swallowing one of its biggest competitors is what antitrust laws were designed to prevent. The outcome would eliminate jobs, push down wages, worsen conditions for all entertainment workers, raise prices for consumers, and reduce the volume and diversity of content for all viewers. Industry workers along with the public are already impacted by only a few powerful companies maintaining tight control over what consumers can watch on television, on streaming, and in theaters. This merger must be blocked."Despite major online backlash, the deal will go ahead and enable Netflix to add around 128 million HBO subscribers to its already over 300 million-strong base.