Warner Bros. has a history of disastrous mergers and acquisitions. Can they avoid another bad sequel as Netflix and Paramount battle to buy it?

Today's announcement by Netflix that it will acquire the Harry Potter, DC Comics and Game of Thrones owner came with an acknowledgement that it plans to continue releasing Warner Bros.' films theatrically — at least, for now.

Netflix co-CEO Ted Sarandos tells Canal+ upfronts that Warner Bros. films will get traditional theatrical windows and flow through output deal.

Cinema owners oppose a megadeal that would see one of the last Hollywood legacy studios snapped up only five years after the demise of 20th Century Fox: "We have fixed costs."

Theater owners fear a sale of Warner Bros. to another major media player could further decrease movie production at a time when the industry has faced multiple setbacks.

Interviews with dozens of actors, producers and camera crews reveal an industry attempting to weigh the lesser of two horrible choices.

EXCLUSIVE: Three-time Oscar winner James Cameron remains eerie on a Netflix-Warner Bros marriage, particularly in its impact on the theatrical business and the window. However, Cameron plans to stand in the way of any steamroller making a path toward the big screen.

Netflix is a company that understands the value of themed entertainment. While the world doesn’t have a Netflix theme park (yet), by the time you read this, the company will have opened its second Netflix House complex in as many months, with a third location already planned for Las Vegas.