On a bright Monday, Warner Bros. Discovery (WBD) celebrated a surge of Golden Globe nominations while a hostile takeover bid from Paramount surged into the spotlight.
Golden Globe Success
WBD’s film One Battle After Another and TV series The White Lotus each earned the most nominations in their categories. The studio’s third film, Sinners, also collected seven nominations. At a news conference held at the Beverly Hilton, actors Marlon Wayans and Skye P. Marshall were calling out the names of the nominees when Paramount announced a hostile bid for WBD valued at more than $108 billion.
Competing Offers and Hollywood’s Reaction
WBD’s board and shareholders are weighing offers from both Netflix and Paramount. Hollywood insiders—producers, marketers and former studio executives—warn that the looming merger will influence votes for upcoming awards shows, including the Directors Guild Awards, the Screen Actors Guild Awards and the Academy Awards.
> “This deal is an emotional piece of news for a lot of people,” said Silence of the Lambs producer Edward Saxon, a voting member of the Academy of Motion Picture Arts and Sciences and chair of the producing program at the University of Southern California’s film school. “There’s worry about consolidation and about the future of theatrical. The feeling is I don’t get a vote on so much of what’s happening in the industry right now. If I do have a vote on something, I’m going to vote against consolidation.”
Netflix’s $82.7 B Acquisition and the Backlash
On Friday, WBD’s board agreed to sell the company’s film, TV and streaming assets to Netflix for $82.7 billion. The decision sparked backlash from Hollywood guilds, movie theater owners and politicians on both sides of the aisle, who say the deal would harm workers and consumers.
The offer came as a surprise. Paramount had been linked to WBD since September, while Netflix co‑CEO Greg Peters had publicly downplayed Netflix’s interest. Some Academy members say the possibility of Netflix owning Warner Bros.—one of the last five traditional movie studios in Hollywood—has cemented their aversion to its business model.
> “There isn’t any love lost for Netflix in the industry right now,” said a veteran academy member who requested anonymity because of the sensitivity of the issue. “The industry feels like they’re a TV company masquerading as a film company.”
Co‑CEO Ted Sarandos told investors and the media that Netflix has no “opposition to movies in theaters” and would uphold Warner Bros.’ existing theatrical agreements. He added that “over time the [theatrical] windows will evolve.”
Legal Challenge Against Netflix
On Monday, Netflix faced a consumer lawsuit seeking to block the WBD acquisition on the grounds that it threatens to reduce competition. A Netflix spokesperson said, “We believe this suit is meritless and is merely an attempt by the plaintiffs bar to leverage all the attention on the deal.”
Netflix has released 10 best‑picture nominees in its history, beginning with Alfonso Cuarón’s Roma in 2019, but it has never won the film industry’s biggest prize. Critics argue its business model has contributed to the decline of the theatrical movie business.
This year, Netflix’s contenders include Guillermo del Toro’s Frankenstein, George Clooney’s vehicle Jay Kelly and the animated musical KPop Demon Hunters.
Hollywood’s Mixed Feelings About Netflix
Some Hollywood voices defend Netflix, saying it has opened doors for creative talent. Actor Joel Edgerton, whose quiet drama Train Dreams Netflix bought at Sundance last year, told Variety at the Gotham Awards, “There are some people that only get their chance because of streamers.”
Awards voters may also give a boost to Warner Bros. titles such as Paul Thomas Anderson’s One Battle After Another and Ryan Coogler’s Sinners.
> “There’s a feeling of this year being the last hurrah for Warner,” said another academy member, who requested anonymity so as not to offend Netflix. “There’s sympathy for the people who work there and what they’re going through. And the heads of the film studio [Mike De Luca and Pam Abdy] are well‑loved.”
In an interview with The Hollywood Reporter about his film’s seven Golden Globe nominations, Coogler answered a question about the pending WBD deal by saying, “Theatrical releases mean everything to me.”
Paramount’s Position and the Golden Globes
Paramount and Netflix will face regulatory hurdles if their offers prevail. Paramount has highlighted its close ties to the White House as an advantage over other bidders. Some of its financial backing comes from Affinity Partners, an investment firm founded by Jared Kushner, President Donald Trump’s son‑in‑law.
Paramount’s stake in this year’s awards race is limited, apart from Mission: Impossible—The Final Reckoning, which is likely to contend in technical categories such as sound and visual effects at the Oscars. The studio owns CBS and Paramount+, which next month will broadcast and stream the Golden Globes—a marketing vehicle for nominated films and a low‑stakes party for Hollywood.
At last year’s Globes, host Nikki Glaser poked fun at Hollywood’s liberal politics. She said, “I’m not here to roast you… You’re all so famous, so talented, so powerful. I mean, you could really do anything — except tell the country who to vote for. But it’s OK. You’ll get them next time!” A spokesperson for Glaser did not respond to a question about whether her set will include political humor this year.
Netflix’s Global Reach
Netflix began as a DVD‑by‑mail company and now operates a subscription‑based streaming service that reaches more than a half‑billion people across 190 countries in 50 languages.
Key Takeaways
- WBD’s films and series lead Golden Globe nominations while Paramount launches a $108 billion takeover bid.
- Netflix’s $82.7 billion acquisition of WBD assets faces backlash and a lawsuit over competition concerns.
- Hollywood insiders predict the looming merger will influence votes for major awards, with mixed feelings about Netflix’s business model.
The entertainment world watches as corporate battles and award season intersect, shaping the future of Hollywood’s biggest studios and the films that capture audiences worldwide.
