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 Tinseltown 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 deeply 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 cozy with President Trump (Paramount).
As the studio reels from its setbacks, it has become imperative for Hollywood players to adapt as mergers and AI technology reshape the entertainment landscape.
Whoever ultimately acquires Warner Bros will affect industry dynamics profoundly. Many in Hollywood are now focusing on reinventing themselves amid these sweeping changes.
