Disaster, catastrophe, nightmare. Hollywood’s creative workforce describes Warner Bros’ collapse with raw intensity. The once-powerful studio now faces a breakup or acquisition. Netflix and Paramount Skydance battle for control. The industry braces for job losses and further upheaval.
Warner Bros’ decline hits an already weakened industry. A historic production slump has battered film and television. The studio’s potential loss threatens thousands of jobs. It also removes a major buyer for films and TV series.
For decades, Warner Bros defined Hollywood. It produced Casablanca, Goodfellas, Batman, and Harry Potter. Many workers now fear that the studio’s legacy could be dismantled.
Two bidders, two feared outcomes
Actors, producers, and crew describe deep anxiety. Workers weigh two futures they both distrust. One path leads to a tech giant blamed for weakening cinemas. The other leads to billionaire owners with political influence.
A camera assistant called Paramount Skydance chief David Ellison a right-wing billionaire. Ellison is the son of Oracle co-founder Larry Ellison, a close Trump ally. The assistant said Netflix historically avoids micromanaging productions.
Netflix aims to acquire Warner Bros’ crown jewels. This includes the 102-year-old studio, HBO, and its content archive. Legacy cable channels and sports networks would go to a separate buyer.
Paramount Skydance launched a $108bn hostile takeover bid. The offer includes backing from Saudi Arabia, Abu Dhabi, and Qatar, and a fund founded by Jared Kushner. Critics warn about censorship and political interference.
Trump inflamed tensions by demanding the sale of Warner’s major news network. His remarks intensified fears of outside influence.
Years of disruption set the stage
The Warner Bros crisis follows years of industry turmoil. The pandemic reshaped Hollywood’s business. Film and TV production collapsed in 2023. Actor and writer strikes shut down sets nationwide.
Studios and streaming services flooded the market in 2022. They chased demand after lockdowns ended. The production boom never returned. Jobs vanished across the industry.
Many media companies closed or merged. David Ellison’s Skydance Media bought Paramount earlier this summer. That deal led to thousands of job losses.
When Warner Bros listed itself for sale, Paramount acted aggressively. The studio later announced a deal with Netflix. Paramount bypassed management and went directly to shareholders. It called its offer superior.
One executive draws industry anger
Across Hollywood, workers point to one figure. Warner Bros Discovery chief executive David Zaslav is widely blamed. He earned $51.9m last year while the company lost over $11bn. Its stock dropped nearly 7%.
An actor said he watched the studio collapse under Zaslav’s leadership. As work dried up, he lost his home. He spoke anonymously to protect future opportunities.
Several compared Zaslav to Gordon Gekko from Wall Street, the fictional symbol of unchecked corporate greed.
Zaslav took control in 2022. He oversaw the merger of Discovery and AT&T’s WarnerMedia. The consolidation cut thousands of jobs. Zaslav received a generous compensation package.
A producer accused him of dismantling the studio. The producer said Zaslav prioritized shareholder wealth over the company’s history. Warner Bros rejected that characterization.
A spokesperson said leadership restored momentum. They cited a strong film slate, a unified long-term DC plan, and the streaming service becoming profitable globally.
Workers fight to survive
For many, the buyer feels almost irrelevant. Survival dominates their lives. Consolidation shrinks the industry further. Artificial intelligence threatens more jobs.
One actor described waking each morning feeling defeated. He now lives without stable housing, relying on odd jobs and food banks. He spoke anonymously to avoid career repercussions.
He said he would rather see Netflix buy Warner Bros than foreign-backed investors. Others strongly disagree.
A cinema owner called a Netflix takeover a disaster. The exhibitor said the company openly dismisses theatres. Many US cinemas refuse to screen its films. Streaming-first releases fuel the resistance.
A producer who worked with all three companies defended Paramount. He said its films still reach cinemas. He argued Paramount did not harm theatres.
Netflix has tried to ease concerns. The company said it will maintain Warner Bros’ operations and support theatrical releases. Many in Hollywood want to believe that promise.
Sound technician John Evans highlighted Netflix’s restoration of the Egyptian Theatre. The company bought the historic venue in 2020 and invested $70m to revive the 1922 cinema. The site hosted the world’s first movie premiere.
Evans said the restoration showed respect for film history. He added that streaming reflects modern viewing habits.
Life goes on amid uncertainty
On the Warner Bros backlot, tourists snap photos at the Friends café set. Studio facades double as New York and Los Angeles streets. Inside offices and writers’ rooms, work continues for those still employed.
A producer said they survived seven mergers. Losing a studio hurts, they said, because it reduces buyers. Still, they insisted quality work always finds a way.
The producer spoke anonymously on the day Paramount announced its hostile bid. Deadlines mattered more than ownership battles. Another bidder would not surprise them.
They joked that even Elon Musk could step in. When trillionaires enter the room, they said, normal rules no longer apply.
