The Financial Post reports in its Tuesday edition that Netflix co-chief executive officers Greg Peters and Ted Sarandos tried to reassure employees' concerns about the company's bid for much of Warner Bros. Discovery Inc., reiterating that there is no business overlap and therefore will not be any studio closures. A Bloomberg dispatch to the Post quotes the executives saying in a letter, "This is going to be a complex process over the next year or so." Netflix's $82.7-billion (U.S.) bid for Warner Bros. streaming and studios businesses was agreed to by the Warner Bros. board but Paramount Skydance Corp. has swooped in with a hostile $108-billion (U.S.) bid for the entire company. The Warner Bros. board is expected to respond to Paramount's offer by the end of the week. If the deal is approved, Netflix will take over one of Hollywood's oldest and most storied studios in one of the biggest ever media deals. It would also gain control of its one-time inspiration, HBO. The executives promised "no overlap or studio closures" amid concerns the megadeal would curtail jobs in an industry already impacted by the rise of streaming platforms and artificial intelligence. "This deal is about growth," the pair wrote.