James Cameron has written a letter saying that if Netflix buys Warner Bros.’ studio and streaming services, it could lead to major job losses, change how movies are shown in theatres, and harm the film exportindustry.
The filmmaker, known for “Avatar,” sent his letter last week to Senator Mike Lee, who is in charge of the Senate subcommittee on antitrust. The letter was recently obtained by CNBC.
Cameron strongly believes that selling Warner Bros. to Netflix would be disastrous for the cinema industry, to which he has devoted his life. He explained that while his films also do well in home video markets, his first passion is cinema.
He warned that if fewer big-budget films are made, many theatres might close, leading to a significant loss of jobs. Cameron pointed out that Netflix’s business model does not support traditional movie production and showing, affecting hundreds of thousands of American workers.
In response, Senator Lee stated that they have received feedback from many individuals in the film industry about the potential merger. He shares some of their concerns and looks forward to a hearing to discuss the issues further.
Cameron also believes that a merger would negatively impact Hollywood film exports, saying that while the US may no longer lead in other industries, it remains a leader in movies, and that could change.
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Vocabulary List:
6 words · tap to reveal
OFF
AccentSpeed
Job/dʒɑːb/noun
A paid position of regular employment.
Disastrous/dɪˈzæstrəs/adjective
Causing great damage or harm.
Merger/ˈmɜːr.dʒər/noun
The combination of two or more entities into one.
Export/ˈɛk.spɔːrt/verb
To send goods or services to another country for sale.
Industry/ˈɪn.də.stri/noun
Economic activity concerned with the processing of raw materials and manufacture of goods.
Impact/ˈɪm.pækt/noun
The action of one object coming forcibly into contact with another.
