Disaster, catastrophe, nightmare. Hollywood’s creative workers describe Warner Bros’ collapse with raw emotion. The once-dominant studio now faces a breakup or takeover. Netflix and Paramount Skydance battle for control. The industry braces for deeper chaos and fresh job losses.
Warner Bros’ decline hits an industry already under pressure. A historic production slowdown has battered film and television. The studio’s possible loss means fewer jobs. It also removes a crucial buyer of film and television projects.
Warner Bros shaped cinema history for generations. The studio produced Casablanca, Goodfellas, Batman, and Harry Potter. Many workers now fear that legacy may not survive intact.
Two buyers, two futures, and widespread fear
Actors, producers, and crew members describe growing anxiety. Many workers now weigh two outcomes they both dislike. One path leads to a tech giant accused of weakening cinemas. The other leads to billionaire owners with close political ties.
A camera assistant described Paramount Skydance chief David Ellison as a right-wing billionaire. Ellison is the son of Oracle co-founder Larry Ellison, a close Trump ally. The assistant said Netflix historically avoids heavy production micromanagement.
Netflix wants Warner Bros’ most valuable assets. The plan includes the 102-year-old studio, HBO, and the vast film and television archive. Legacy cable networks and sports brands would go to another buyer.
Paramount Skydance has launched a $108bn hostile takeover bid. The offer includes backing from Saudi Arabia, Abu Dhabi, and Qatar. It also includes a fund started by Jared Kushner, Trump’s son-in-law. Critics warn about censorship and political influence.
Donald Trump intensified tensions by demanding the sale of Warner’s major news outlet. His comments deepened fears of government interference.
An industry still reeling from pandemic and strikes
The Warner Bros battle follows years of upheaval. The pandemic reshaped Hollywood’s business model. Film and television production collapsed in 2023. Actor and writer strikes shut down sets nationwide.
Studios and streaming platforms flooded the market in 2022. They rushed to meet demand after lockdowns. The production boom never returned after the strikes ended. Jobs disappeared across the industry.
Many media companies have since closed or merged. David Ellison’s Skydance Media bought Paramount earlier this summer. That deal triggered thousands of job losses.
When Warner Bros went up for sale, Paramount pushed aggressively to buy it. The studio later announced an agreement with Netflix. Paramount then bypassed management and appealed directly to shareholders. It called its offer superior.
One executive becomes Hollywood’s main target
Across Hollywood, many workers blame one man. They point to Warner Bros Discovery chief executive David Zaslav. He earned $51.9m last year. During that time, the company lost more than $11bn. Its stock fell nearly 7%.
An actor said he watched the studio unravel under Zaslav’s leadership. As work dried up, he lost his home. He spoke anonymously to protect future job prospects.
Several workers compared Zaslav to Gordon Gekko from Wall Street. The fictional financier celebrated greed above all else.
Zaslav took control in 2022. He led the merger of Discovery and AT&T’s WarnerMedia. The consolidation cut several thousand jobs. Zaslav received a generous compensation package.
A producer on the Warner lot accused him of stripping the company. The producer said Zaslav chased shareholder gains while ignoring history. The company rejected that portrayal.
A Warner spokesperson said leadership restored momentum at the studio. The statement cited a strong film slate and a unified DC plan. It also said the streaming service turned profitable globally.
Workers focus on survival as the ground shifts
For many workers, the buyer now feels secondary. They focus on survival. Consolidation continues to shrink the industry. Artificial intelligence threatens even more roles.
One actor described waking each morning feeling defeated. He now lives without a home. He supports his family through odd jobs and food banks. He spoke anonymously to avoid career damage.
He said he would rather see Netflix buy the studio than foreign-backed investors. Others strongly reject that view.
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 drive that resistance.
A producer who worked with all three companies defended Paramount. He said its films still reach cinemas. He argued Paramount did not undermine theatres.
Netflix has tried to ease those fears. The company said it would preserve Warner Bros’ operations. It promised to expand theatrical releases. Many in Hollywood want to trust that promise.
Sound technician John Evans pointed to Netflix’s restoration of the Egyptian Theatre. The company bought the landmark venue in 2020. It 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.
Business as usual on a lot filled with uncertainty
On the Warner Bros backlot, tourists pose beside 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 strong work always survives.
The producer spoke anonymously on the day Paramount announced its hostile bid. Deadlines mattered more than ownership battles. Another bidder would not surprise them.
The producer joked that even Elon Musk could appear. When trillionaires enter the picture, they said, the rules disappear.
