On the heels of saying its blockbuster agreement to buy Warner Bros. and HBO Max, Netflix sought to reassure clients that nothing can be altering — proper now — with its service or subscription plans.
The streaming firm despatched an electronic mail late Friday to thousands and thousands of Netflix subscribers with the topic line: “Welcoming Warner Bros. to Netflix.”
“We lately introduced that Netflix will purchase Warner Bros., together with its movie and tv studios, HBO Max and HBO,” the message reads. “This unites our main leisure service with Warner Bros.’ iconic tales, bringing a number of the world’s most beloved franchises like Harry Potter, Pals, The Huge Bang Idea, Casablanca, Recreation of Thrones and the DC Universe along with Stranger Issues, Wednesday, Squid Recreation, Bridgerton and KPop Demon Hunters.”
Beneath the heading “What’s altering?”, the e-mail says: “Nothing is altering right this moment. Each streaming companies will proceed to function individually.” Netflix had beforehand mentioned in its announcement that Warner Bros. can be operated individually, with the HBO Max service continuing to run as a discrete service initially, however the electronic mail to clients sought to emphasise that time immediately.
The Netflix message continues, “We now have extra steps to finish earlier than the deal is closed, together with regulatory and shareholder approvals. You’ll hear from us when now we have extra to share. Within the meantime, we hope you’ll proceed to take pleasure in watching as a lot as you need, everytime you need — all in your present membership plan.”
Netflix and Warner Bros. Discovery mentioned they count on to shut the transaction in 12-18 months, pending WBD shareholder approval and regulatory clearances. Beneath the acquisition settlement, Netflix is buying the Warner Bros. movie and TV studios, HBO Max and HBO and the Warner Bros. Video games enterprise. The deal has an equity value of $72 billion and an enterprise value of $82.7 billion (which incorporates debt).
The Netflix electronic mail despatched Friday additionally directs clients to a bit of its help-center website with an FAQ about the Warner Bros. deal. One of many questions reads, “What if I have already got an HBO Max subscription, ought to I cancel?” to which the reply listed is, “Netflix and Warner Bros. will stay separate till the transaction is closed.”
The message concludes, “Thanks for selecting Netflix. We’re dedicated to bringing you extra nice TV exhibits, films, video games and stay programming.”
At a part of sustaining Warner Bros.’ studio operations independently, Netflix mentioned it will continue to release Warner Bros. movies in theaters — though ultimately these launch home windows will shrink to be “rather more client pleasant,” co-CEO Ted Sarandos advised analysts on a name.
