Washington: Hollywood unions and theater owners on Friday sounded the alarm over Netflix’s proposed $72 billion takeover of Warner Bros Discovery, warning the deal would cut jobs, concentrate power and reduce theatrical movie releases if the deal passes regulatory review.

The deal would place the streaming giant’s HBO brands under the Netflix umbrella and also hand control of the historic Warner Bros (WBD.O), opens new tab studio over to Netflix, opens new tab, which has already upended Hollywood by hastening the shift from movie releases in cinemas to home streaming.

Netflix, the force behind “Stranger Things” and “Squid Game,” could gain control of marquee Warner Bros titles such as “Batman” and “Casablanca.”

“This merger must be blocked,” the Writers Guild of America East and West s

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