US EditionAs Netflix and Paramount Circle Warner Bros. Discovery, Hollywood Unions Voice Alarm
Hollywood unions warn Netflix and Paramount bids for Warner Bros. could cause billions in cuts and thousands of layoffs, risking jobs and production in the industry.
- Last week, Netflix agreed to buy major Warner Bros. film and TV assets for $72 billion and to assume more than $10 billion in debt, while Paramount countered with an about $78 billion offer.
- Unions representing writers, directors, actors and crew warn consolidation threatens work, fearing Netflix's $2 billion to $3 billion and Paramount's $6 billion-plus cuts will reduce competition and jobs.
- Seeking commitments on paper, unions are pressing Netflix and Paramount to guarantee work and local shoots, with Lindsay Dougherty and Duncan Crabtree-Ireland engaging bidders to protect jobs and Warner Brothers’ legacy.
- WGA data show episodic writing jobs have dropped as much as 90%, and union leaders remain skeptical about bidders' promises, two years after a strike over AI protections.
- History shows many mergers stumble, with failure rates cited between 70% and 90%, and Greg Peters, co-CEO of Netflix, said, `A lot of those failures that we've seen historically is because the company that was doing the acquisition didn't understand the entertainment business.
11 Articles
11 Articles
Hartford Courant
As Netflix and Paramount circle Warner Bros. Discovery, Hollywood unions voice alarm
By Wendy Lee, Los Angeles Times LOS ANGELES — The sale of Warner Bros. — whether in pieces to Netflix or in its entirety to Paramount — is stirring mounting worries among Hollywood union leaders about the possible fallout for their members. Related Articles Theater review: ‘All is Calm’ a beautifully sung tale of peace during wartime at Playhouse on Park ‘Zootopia 2’ reclaims No. 1 spot at box office, grosses $1B w…
Win who wins the pulse to control Warner Bros, either the insatiable Netflix or a Paramount that has fallen into the orbit of Trumpism, defeat is assured for consumers (subscription prices will tend to rise and there will be less offer, as pointed out in Economy) but, above all, for cultural diversity, today as declining as animal species, climate activism or the habit of reading in a row.Keep reading...
Netflix and Paramount Skydance competing in the acquisition of Warner Bros Discovery. A large-scale financial operation that upsets the world of cinema, worried to see feature films switch more on the movie scene.
Giants argue Warner Bros. Discovery in operation of 108 billion. After Paramount contraofensively, Netflix will not close Warner's studies in case of acquisition of 82.7 billion
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