Disaster, catastrophe, nightmare. Hollywood’s creative workforce uses stark language to describe Warner Bros’ collapse. The once-dominant studio now faces a breakup or takeover. Netflix and Paramount Skydance fight for control. The industry braces for more upheaval and deeper job losses.
Warner Bros’ decline hits an industry already under strain. A historic production slowdown has battered film and television. The studio’s possible disappearance means fewer jobs. It also removes one more buyer for films and series.
Warner Bros shaped cinema history for generations. It produced classics from Casablanca and Goodfellas to Batman and Harry Potter. Many workers fear that legacy now hangs by a thread.
Two buyers, two futures Hollywood fears
Interviews with actors, producers, and crew reveal deep unease. Many workers now weigh what they see as two harmful outcomes. One involves a tech giant accused of hollowing out cinemas. The other involves billionaire owners seen as politically close to Donald Trump.
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-handed production control.
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, including a major US news channel and sports brands, would go to another buyer.
Paramount Skydance has launched a $108bn hostile bid for the entire company. The offer includes backing from Saudi Arabia, Abu Dhabi, and Qatar. It also involves a fund started by Jared Kushner, Trump’s son-in-law. Critics warn about censorship risks and political pressure.
Trump inflamed tensions by calling for the sale of Warner’s major news outlet. His comments deepened fears of government interference.
A battered industry still reeling from past shocks
The Warner Bros saga follows years of disruption. The pandemic reshaped Hollywood’s business model. Film and television production collapsed in 2023. Simultaneous actor and writer strikes shut down sets nationwide.
In 2022, studios and streaming platforms flooded the market. They raced to meet demand after lockdowns. When the strikes ended, the boom never returned. Work vanished across the industry.
Many media companies have since shut down or merged. David Ellison’s Skydance Media bought Paramount earlier this summer. The 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 to the Netflix deal.
One executive draws the industry’s anger
Across Hollywood, many workers point to a single villain. They blame Warner Bros Discovery chief executive David Zaslav. Last year, he earned $51.9m. During that period, 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 because he still seeks future roles.
Several workers compared Zaslav to Gordon Gekko from Wall Street. The fictional financier celebrated greed above all else.
Zaslav took control in 2022. He oversaw the merger of Discovery and AT&T’s WarnerMedia. The consolidation cut several thousand jobs. Zaslav received a generous pay package.
A producer on the Warner lot accused him of stripping the company for parts. The producer said Zaslav chased shareholder gains while ignoring history. The company rejected that assessment.
A Warner spokesperson said the studio regained strength under current leadership. The statement cited a strong film slate and a unified long-term plan for the DC universe. It also said the streaming service became profitable for the first time.
Workers caught between survival and collapse
For many workers, the buyer barely matters anymore. They focus on survival. Consolidation continues to shrink the industry. Artificial intelligence threatens even more jobs.
One actor described waking each morning feeling defeated. He now lives without a home. He supports his family through odd jobs, friends, and food banks. He spoke anonymously to protect future work.
He said he would rather see Netflix buy the studio 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 because of streaming-first releases.
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 calm those fears. The company said it would preserve Warner Bros’ operations. It promised to expand theatrical releases. Many in Hollywood want to believe that pledge.
Sound technician John Evans pointed to Netflix’s restoration of the Egyptian Theatre. The company bought the landmark cinema in 2020. It invested $70m to revive the 1922 venue. The site hosted the world’s first movie premiere.
Evans said the restoration showed respect for film history. He added that streaming reflects how most workers now watch movies.
Business continues as uncertainty hangs over the lot
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 had survived seven mergers. Losing a studio hurts, they said, because it reduces chances to sell shows. Still, they insisted strong work always survives.
The producer spoke anonymously on the day Paramount announced its hostile bid. They said deadlines mattered more than ownership battles. Another bidder would not surprise them.
The producer joked that even Elon Musk could step in. When trillionaires enter the room, they said, the rules no longer exist.
