Disaster, catastrophe and nightmare. That’s how Hollywood creatives are describing the demise of the once-mighty Warner Bros. studio, as Netflix and Paramount vie to buy the historic studio and the “city of glitter” prepares for more upheaval and job losses.
The loss of the decline and impending sale of Warner – whether it goes to Paramount Skydance in its entirety or is cut into pieces for Netflix – is being mourned in Hollywood. The historic production slump has already hurt the entertainment industry.
Losing a studio that has made iconic films from Casablanca and Goodfellas to Batman and Harry Potter is likely to lead to job cuts and will definitely mean one less film and TV buyer to project.
Surveys conducted by the BBC among dozens of actors, producers and cameramen show the industry is keen to weigh up which of two decisions is less undesirable: being controlled by a tech giant blamed for the demise of cinemas (Netflix), or by billionaires seen as too closely aligned with President Trump (Paramount).
“David Ellison is a right-wing billionaire maverick”, an assistant cameraman said of Paramount CEO Skydance. He is the son of billionaire Oracle co-founder and close Trump associate Larry Ellison.
If Netflix gets the deal they want, they will buy the “crown jewels” of Warner Bros. – 102-year-old studio, HBO and its vast archive of films and series. Warner’s legacy TV networks like CNN, TNT Sports and Discovery will be left for another buyer.
Tim:8)The Warner Bros. agreement is the latest in a series of major upheavals in post-Pandemic Hollywood.
In 2023, film and television production was completely halted due to simultaneous strikes by actors and writers. In 2022, following Covid-related quarantine restrictions, everyone in Hollywood seemed to be working as studios and streaming platforms ramped up production. However, once the labour protests ended, there was no resumption of production resumption.
The consequence was that many media companies had to shut down or merge with others. David Ellison of Skydance Media bought Paramount, another legendary Hollywood studio, earlier this summer, resulting in the loss of thousands of jobs.
When Warner Bros. put up a “For Sale” sign, Paramount launched a vigorous campaign to buy the company. But it’s over. He didn’t want to give his name because he still hopes to work for Netflix and Paramount.
Several people have compared Zaslav to the fictional film character Gordon Gekko, who proclaims that “greed is good” in the 1987 film “Wall Street.”
Zaslav took over the company in 2022 during another major merger of Discovery, Inc. which he ran, with WarnerMedia AT&T, creating Warner Bros. Discovery. That consolidation led to several thousand job cuts, as well as generous compensation packages for Zaslav.
“Zaslav is just Gordon Gekko: He came in, broke everything and sold it,” says a producer who worked at the Warner Bros. base.
He said:I’m going to make all the shareholders rich and those who care about the history of the place.
Warner Bros. Objected to this characterisation.
Led by the iming service, launched globally and became profitable for the first time in history,” Robert Gibbs, head of Warner Communications, said in comments to the BBC.
For many filmmakers, who exactly will buy Warner Bros. seems almost insignificant. Instead, they are focused on reinventing themselves as the industry shrinks amid consolidation and the growing use of AI in entertainment.
“Every morning, no matter how much I tell myself to stay positive, I wake up feeling like I’ve failed at everything,” said the actor, who is now homeless with his wife and two children.
He asked not to be named for fear it might affect his future work.
Others aren’t so sure. This tech giant may have been the biggest disruptor of the industry getting to the big screen. ‘They didn’t destroy cinemas,’ said one producer who has worked with all three companies. believe.
Author photo, Getty Images
John Evans, a sound engineer who moonlights as an actor, writer and producer, points to Netflix’s careful restoration of the historic Egyptian Theatre on iconic Hollywood Boulevard as a sign of their intentions.
“The Egyptian, a classic 1922 cinema, was the site of the world’s first film premiere of Robin Hood starring Douglas Fairbanks. – business as usual.
“I’ve been through seven mergers,” said the producer, who works at the Warner Bros. venue and is now developing a new show.
He explains that losing the studio is sad because it means it will be even harder to create and sell shows with one smaller buyer.
“But if you make a good product, you’ll make a good product.”
The producer spoke on condition of anonymity the day Paramount Skydance announced its takeover. He said he was too busy to worry about the sale because he was trying to get the show on the air – and wouldn’t be surprised if, by the end of the story, another billionaire or trillionaire showed up with a new offer to buy the studio.
“I joke about Elon [Musk] coming in and doing it, but he can,” he said of the Tesla and X owner.
“When you have people whose fortunes.