Instead of doom posting, here’s what I hope happens:
A) Paramount-WB will be forced to split in the post-Trump administration
B) Debt’s too much to handle that they’d have to sell one half or both
C) Ellison’s get forced out so the company can have competent leadership
See? There is a reason why mergers shouldn't happen at all.
The Disney/Fox merger was the cause of this mess, it started this disgraceful trend.
It's all Bob Iger's fault, if only Disney and TCF would break up and never merger again.
This is really terrible news for everyone . This means that a lot of people are probably going to lose their jobs, the rising prices of streaming subscription, decreased film and tv diversity , the huge debt that both paramount and Warner bros have created for themselves, CNN being in danger of losing their independence etc . We’re screwed as a country
Gavin Newsom cannot be allowed near the presidency.
He has fundamentally failed California in every way possible.
The Paramount/WB merger was the final nail in the coffin.
- When Disney and 20th Century merged, there were massive job losses and the output in films from 20th Century took a big hit
- There is no way Paramount can keep its promise of 30 films a year for 3 years. Absolutely no way. It is ridiculous how many "leaders" have bought that silver tongue lie from Ellison.
- Get ready for Bari Weiss to do just as much damage to CNN as she has to CBS News. Not that CNN was killing it in the ratings anyways, but if the formerly highly respected and top-watched CBS News took such a tumble under her, what do you think its gonna' look like for CNN?
The proposed Paramount/Warner Brothers merger would mean an even greater concentration of media in this country. Thousands of jobs are on the line, and this would put yet another news network under the control of a Trump ally. This merger must be blocked.
Today, billionaires have yet again bribed, censored, and bullied their way to the top. As a result, a billionaire media conglomerate closely allied with the president will soon own one of its closest rivals, including some of the nation’s most critical news outlets. Saudi Arabia’s sovereign wealth fund will co-own those outlets, too.
Layoffs will follow. People from L.A. to Atlanta will lose their jobs, small businesses will lose their contracts, your cable bill and movie ticket will be even more expensive. Dissent against money and power will be even harder to find.
This did not have to happen. Thanks to an extraordinary outpouring of grassroots anger against the merger, a coalition of 12 state attorneys general sued to block it. They beat Paramount in court, winning a court-ordered pause on the merger, and beat them again at the negotiating table, getting the conglomerate to agree to pause the merger until as late as next June.
But the Ellison family does not care about the law. Instead, they loudly threatened to leave California if their merger did not go through immediately. Gavin Newsom caved to that pressure. So did Xavier Becerra. And eventually, so did Attorney General Rob Bonta, agreeing to a weak settlement that will be exceedingly difficult to enforce.
People want champions who are not afraid of rich bullies. Newsom, Becerra, and Bonta did not meet that mark. The people who work in the film and TV industry and the small businesses who support it will suffer as a result. And so will everyone who values dissent in our democracy.
This is not the end. The coalition that fought to block this illegal merger will fight to break up big media. There is legislation pending in Congress today that would retroactively break up corrupt billionaire mergers. This industry was once marked with strict rules so that a small handful of conglomerates couldn’t own everything. There’s no reason we cannot return to that reality. There’s no reason we can’t build on it.
But today is a loss, and that loss will be felt by the people who can least afford it.
A reminder of what followed Disney’s acquisition of Fox:
• Thousands of jobs were eliminated
• Fox 2000 was shuttered
• Blue Sky Studios was closed
• Competing development teams were consolidated
• Projects were cancelled or placed into turnaround
• Fewer films received theatrical releases
• Theaters lost a major supplier of annual product
• Filmmakers lost a major buyer for their work
• Disney controlled roughly one-third of the 2019 domestic box office
Before Disney, Fox, Fox 2000 and Searchlight collectively averaged more than 20 theatrical releases annually. In recent years, 20th Century and Searchlight have released fewer than half that number.
Disney bought a competitor. Hollywood lost one. And will never fully get it back. Remember that in three years.
That is the precedent everyone should remember before allowing Paramount to absorb Warner Bros.
Resist.
Paramount-Warner Bros. WILL BE DANGEROUS merger if handed over to the Ellisons... Paramount will NOT "save" Warner Bros. and will not deliver any promises they claim to make to the people... Paramount and Warner Bros. should remain SEPARATE... #BlockTheMerger
I say this with absolute conviction: the WB/Paramount deal would be bad not just for theatrical, but for the entire entertainment landscape.
The industry survived one massive studio merger. It was never the same afterward. Another would reshape Hollywood for a generation.
The future isn’t written yet.
So for now… resist.