Movie theater operators are reeling after Netflix , long viewed as public enemy No. 1, announced that it has a deal in place to buy Warner Bros. for $82.7 million. The sale, which still needs regulatory approval , has the potential to re-shape a business that is already struggling to regain its pre-pandemic stride, leaving cinemas with fewer films to showcase on their screens.

“The world just shifted on its axis,” said Stacey Spikes, co-founder of MoviePass, a subscription ticketing service.

Some theater owners are openly rooting for the federal government to deny Netflix the chance to vacuum up Warner Bros., because they rely heavily on the 12 to 14 movies that the studio releases annually.

“Hopefully the deal gets killed so Warners can be sold to a better entity,” says Chris Randl

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