Warner Bros, one of Hollywood’s most historic studios, is facing a potential breakup or takeover as Netflix and Paramount Skydance compete to acquire the company, raising concerns among creative workers about job losses, consolidation, and the future of film and television production.
Industry Reaction to Warner Bros’ Decline
Interviews conducted by the BBC with actors, producers, and crew members describe widespread anxiety across Hollywood as Warner Bros’ possible sale unfolds. Many workers see the studio’s decline as another blow to an industry already weakened by a prolonged production slowdown and extensive layoffs.
Warner Bros’ film catalogue includes titles such as Casablanca, Goodfellas, Batman, and Harry Potter. Industry workers say losing the studio as an independent buyer would further reduce opportunities for new film and television projects.
Competing Bids and Ownership Concerns
Netflix is seeking to acquire Warner Bros’ core assets, including the studio, HBO, and its extensive film and television library, while leaving cable networks such as CNN, TNT Sports, and Discovery to be sold separately. Paramount Skydance, meanwhile, has launched a hostile takeover bid valued at $108bn (£81bn), backed by investors including Saudi Arabia, Abu Dhabi, Qatar, and a fund associated with Jared Kushner, the son-in-law of US President Donald Trump.
Some workers interviewed expressed unease about Paramount Skydance’s political associations, while others raised concerns about Netflix’s streaming-first business model and its impact on movie theatres.
US President Donald Trump further intensified debate when he publicly stated that it was “imperative” for CNN to be sold.
Legacy of Consolidation and Production Slowdown
The Warner Bros situation follows years of disruption across Hollywood. Film and television production surged in 2022 after pandemic shutdowns, then stalled following the 2023 writers’ and actors’ strikes. The expected rebound did not materialise, leading to mergers, closures, and workforce reductions.
Earlier this year, Skydance Media acquired Paramount, resulting in thousands of job losses. Warner Bros Discovery’s decision to explore a sale adds to ongoing consolidation across the industry.
Criticism of Warner Bros Discovery Leadership
Many industry workers identified Warner Bros Discovery chief executive David Zaslav as a central figure in the studio’s decline. Zaslav earned $51.9m last year as the company reported losses exceeding $11bn and saw its share price fall nearly 7%.
Several workers compared Zaslav to the fictional financier Gordon Gekko, citing aggressive cost-cutting and asset sales following the 2022 merger between Discovery and WarnerMedia. Warner Bros rejected that characterisation, stating that under Zaslav’s leadership the studio had rebuilt its film slate, restructured DC Studios under a long-term plan, and made its streaming service profitable for the first time.
Differing Views on Netflix and Paramount
Opinions remain divided over which buyer would be less disruptive. Some workers said Netflix’s approach allows greater creative autonomy, while others warned that its reduced reliance on theatrical releases could weaken cinemas further. Many US theatres continue to refuse Netflix films due to shortened or absent theatrical windows.
Netflix has said it would preserve Warner Bros’ existing operations and continue theatrical releases. Some industry figures cited Netflix’s $70m restoration of the historic Egyptian Theatre in Hollywood as evidence of its commitment to cinema.
Ongoing Uncertainty for Creative Workers
For many in Hollywood, the ownership outcome is secondary to broader industry pressures, including shrinking production budgets, consolidation, and the growing role of AI in entertainment. Workers said they are increasingly focused on adapting their careers amid reduced opportunities.
Despite uncertainty, production continues at Warner Bros’ studio lot, where projects remain in development and tourists visit iconic sets. Industry veterans noted that mergers are nothing new in Hollywood, but acknowledged that each one narrows the market further.
Several workers said they would not be surprised if another wealthy buyer entered the bidding before a final decision is made.
Featured image credits: Flickr
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