The Director of ‘Titanic’ Considered the Sale of Warner Bros. a Catastrophe 0 19

Lee heads the Senate subcommittee on antitrust policy, competition policy, and consumer rights, which held hearings on February 3 to discuss the potential impact of the deal for the acquisition of Warner Bros. by a streaming service. Cameron sent a letter to the senator after the hearings, CNBC reports.

"I firmly believe that the proposed sale of Warner Brothers Discovery to Netflix will have catastrophic consequences for the theatrical film business, to which I have dedicated my entire life’s work," Cameron wrote. "Of course, all my films are also sold on secondary video platforms, but my first love is the cinema."

The director of ‘Titanic’ compares the theatrical industry to a "sinking ship" in the event of the studio's sale to Netflix. In his opinion, this will lead to massive job losses in Hollywood, fundamental changes to the American theatrical landscape, and a negative impact on one of the largest export sectors in the U.S.

CNBC notes that the film industry as a whole fears that the consolidation of studios will lead to fewer releases and jobs. At the same time, Netflix has emphasized that it intends to increase investments in production.

In December 2025, Netflix announced a deal with Warner Bros. Discovery to acquire the Warner Bros. studio, HBO Max streaming, and the HBO channel for $82.7 million. This will give Netflix control over franchises such as ‘Harry Potter,’ DC Comics, and ‘Game of Thrones.’

Paramount Skydance is also vying for Warner Bros. assets — it is offering $108.4 billion for the entire company. Reuters reported that Netflix has enough cash to improve its offer if Paramount raises the stakes.

Any deal must be reviewed by antitrust authorities. According to U.S. Department of Justice guidelines, if the combined company holds more than 30% of the market, the merger is considered illegal. Netflix insists that the market for streaming platforms should also include free services, such as YouTube.