Warner Bros. Discovery CEO David Zaslav told staffers Friday that layoffs would be minimal post-merger with Netflix because the streamer needs supplemental staff, TheWrap has learned.
“The idea of coming together with another company, there are going to be some trepidation. I understand that, but it is a good fit,” the executive said in a town hall for staff Friday. “The intention is that they [Netflix] want to keep most people, because they don’t have a lot; they don’t have a motion picture studio, they don’t have a big gaming business. And so the fit feels very good for our employees.”
WBD has selected Netflix’s bid for the entertainment giant after the streamer offered $27.75 a share for the studio and streaming assets, a mix of cash and stock worth $82.7 billion.
Zaslav clarified that the streamer does not have several of the departments that WBD does, but he did not speak specifically about departments like human resources and IT for which the companies would have some overlap.
Netflix won the bidding war over rival suitors Paramount and Comcast. The pending acquisition, which was announced Thursday evening, comes after three rounds of bids. The streamer disclosed that it would have to pay a breakup fee of $5.8 billion if it walked away, while it would get $2.8 billion if WBD backs out.
In the company’s joint announcement with WBD, Netflix said it expects “to maintain Warner Bros.’ current operations and build on its strengths,” including theatrical releases for films.
During the town hall, executives announced that the company still plans to spinoff its linear assets in the third quarter of 2026. This was announced prior to the bidding war over Warner Bros. Gunnar Wiedenfels is set to lead the networks spinoff, previously named Discovery Global.
The company also announced that HBO Max will stay a standalone service despite teaming with the powerhouse streaming company. The TV studio division will continue to make content for Netflix, HBO, HBO Max and outside platforms.
