Rep. Chu Statement on Proposed Hollywood Studio Consolidation

PASADENA, CA – Representative Judy Chu (CA-28), founder and Co-Chair of the bipartisan Creative Rights Caucus, released the following statement regarding the ongoing competition between Netflix and Paramount Skydance for the acquisition of Warner Bros. Discovery: 

“Earlier this month, we learned that two major Hollywood studios would merge in a deal for Netflix to acquire Warner Bros. Discovery. Since then, Paramount Skydance has made multiple attempts to outbid Netflix for this acquisition. 

“Both proposed mergers have the potential to remake the film and television industry and will have an enormous impact on thousands of creative workers in my district and across Southern California. As these negotiations proceed, the parties must recognize their obligation to both the creative workforce and consumers. America’s creative economy supports jobs across the country, and these workers are responsible for creating our most important cultural exports.

“The parties must engage in robust consultation with Congress throughout this process to account for how their proposals will impact the creative industry. I will continue to work with any of my colleagues, both Democrats and Republicans, to stand up for this critical industry. That includes fighting for legislation like my bipartisan, bicameral bill, H.R. 4840 - the CREATE Act, which would strengthen federal incentives for domestic film and television production.”

###