Disaster, catastrophe and nightmare. That's how Hollywood's creative workers describe the fall of the once mighty Warner Bros, as Netflix and Paramount battle to buy the historic studio and tinsel town braces for more upheaval and job losses.
Warner's decline and impending sale – whether it's to Paramount Skydance as a whole, or to Netflix cut up in parts – is being mourned in Hollywood, where a historic production slump has already battered the entertainment industry. The loss of the studio, which has created iconic films ranging from Casablanca and Goodfellas to Batman and Harry Potter, likely means more job cuts and definitely means one less buyer of film and TV projects.
Interviews with dozens of actors, producers and camera crews reveal an industry attempting to weigh the lesser of two evils: control by a tech giant blamed for killing movie theatres (Netflix) or billionaires seen as too cosy with President Trump (Paramount).
David Ellison is a right-wing billionaire Trumper, a camera assistant said of the Paramount Skydance CEO. Netflix is much more historically inclined to not micromanage production.
If Netflix gets the deal they want, they will buy Warner Bros' crown jewels – the 102-year-old studio, HBO, and its vast archive of films and TV shows – leaving Warners's legacy TV networks for another buyer. Paramount Skydance's hostile takeover bid for Warner Bros includes backing from Saudi Arabia and Abu Dhabi, raising concerns about potential censorship.
The Warner Bros deal reflects broader shifts in Hollywood following the pandemic, as production ground to a halt during simultaneous actor and writer strikes, with the industry facing an unsettling future as consolidation and the rise of AI present new challenges.
Many in Hollywood are rallying together, with voices calling for resilience and innovation amid fears of monopolistic control over creative content. Whether rooting for Paramount, Netflix, or a new buyer, there is a palpable sense of urgency for the future of filmmaking.
