One Battle After Another and Sinners are two films set for big wins at the Oscars this weekend – but with the studio behind them potentially facing a huge takeover, industry experts say this is a time of great uncertainty in Hollywood.
Warner Brothers has 30 Oscar nominations in total, more than any of its rivals – and mainly thanks to these two films, with period vampire horror Sinners alone picking up a record-breaking 16 nods.
But after a century of filmmaking influence, the studio is poised for a takeover so vast it could reshape Hollywood’s structure, power dynamics, and even creative output.
The Paramount Skydance deal, struck for an eye-watering $110bn, subject to reviews, would bring together two of the city’s five legacy studios.
Many in the industry are now looking to what happens after the Oscars ceremony.
“This is a very exciting time for Warner Brothers,” says Brian Welk, senior business reporter for entertainment site IndieWire. “They are most likely going to win best picture with one of their two films, and yet we don’t know the future of what the film people in charge will be able to do moving forward, or will they still be around or still have that same autonomy?”
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Paramount, led by billionaire Larry Ellison’s son, David, has political connections to Donald Trump’s administration. The deal is still subject to approval from regulators, and both Democrats and Republicans have raised concerns it could result in higher prices and fewer choices for customers.
Cinema operators have also said combining large Hollywood studios could cost jobs and reduce the number of films released in theatres.
“These are two very aligned companies that have a lot of similar structures,” says Brian. “They have two lots that are both in Hollywood.
“There’s many people who are wondering, are Paramount and Warner Brothers even going to keep both lots? Are they going to lay off thousands of people?”
Deal could ‘threaten livelihoods’, union says
On Thursday, the International Brotherhood of Teamsters labour union said it had warned the Department of Justice (DoJ) in a report that the proposed takeover posed a direct threat to film and television workers nationwide, including almost 15,000 of its rank-and-file members in the industry.
It has called for the deal to be blocked unless “substantial and enforceable safeguards are put in place to increase domestic production and protect jobs”.
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“This merger threatens the livelihoods of the very workers who built these studios into industry giants,” said Teamsters general president Sean M O’Brien. “We’ve seen what happens when corporations consolidate power: jobs disappear, production leaves American communities, and workers pay the price.
“The DoJ has a responsibility to stop deals that eliminate competition and harm working families.”
Sky News has contacted Warner Bros and Paramount for comment.
While the deal is not set in stone yet, for Hollywood this is huge, not only in terms of the US film industry but the wider media landscape.
Warner Brothers will be enjoying its moment in the sun at the Oscars on Sunday – but things could be very different for ceremonies to come.
