Netflix CEOs Seek to Reassure Staff About Warner Bros. Deal (2)

Netflix Inc. co-Chief Executive Officers Greg Peters and Ted Sarandos tried to reassure employees’ concerns about the company’s bid for much of Warner Bros. Discovery Inc., reiterating that there is no business overlap and therefore won’t be any studio closures.

“This is going to be a complex process over the next year or so,” the executives said in a letter posted to the company’s internal blog and published in a securities filing.

Netflix’s $82.7 billion bid for Warner Bros. streaming and studios businesses was agreed to by the Warner Bros. board but Paramount Skydance Corp. has swooped in ...