From Vox · Caitlin Dewey · · 2m
Five companies now control Hollywood
Paramount and Warner Bros. Discovery merged on Tuesday, concentrating US film and TV production in just five hands.
In brief
Paramount and Warner Bros. Discovery merged on Tuesday, concentrating US film and TV production in just five hands. Paramount completed a one hundred ten billion dollar merger with Warner Bros. Discovery, concentrating US film and television in five companies and raising concerns about fewer, more formulaic films…
Ellison backs massive media deal
Tech billionaire Larry Ellison has backed Paramount's completion of a one hundred ten billion dollar merger with Warner Bros. Discovery on Tuesday, combining HBO, CBS, and Paramount Pictures.
Five companies now control film
The merger concentrates much of the US film and television business in the hands of just five companies, raising concerns about power over what gets made and what consumers pay.
Critics warned of fewer films
Unions, theater owners, media watchdogs and state attorneys general opposed the deal, warning it could produce fewer, more boring movies, raise subscription prices, and inject political bias into news programs.
Settlement sets film minimum
A September twenty-first settlement with twelve state attorneys general let the merger proceed. The company agreed to release at least thirty films a year for two years, then thirty-two films yearly for three years after.
Supreme Court rejects last bid
A group of consumers launched a last-minute bid to block the deal, but the Supreme Court declined their emergency request on Monday, clearing the way for the merger to proceed.
Disney cut films after merger
According to Cinema United, a theater industry group, Disney and twenty-first Century Fox put out about half as many theatrical releases after their two thousand nineteen merger as they did before it, excluding two thousand twenty and two thousand twenty-one.
Paramount may differ from Disney
The European Commission concluded that Paramount and Warner were comparatively more dependent on film revenue than Disney, meaning cutting back movie production post-merger would not make economic sense the way it did for Disney.
Fewer studios mean less risk
Critics argue that fewer studios mean fewer opportunities for Hollywood creatives and less pressure on the remaining players to take creative risks, potentially resulting in less diverse and more formulaic films.
Academics warn of formulaic output
Academics with the Media and Consolidation Research Organization at UC San Diego released a report over the summer warning this deal would likely result in less diverse and more formulaic films.
The headline
Paramount completed a one hundred ten billion dollar merger with Warner Bros. Discovery, concentrating US film and television in five companies and raising concerns about fewer, more formulaic films.
