Yesterday was a big day in Hollywood, but not necessarily in a good way. In quick succession, we got the news that Warner Bros. had accepted the latest bid from Paramount, and that Netflix was declining to beat it. That means that although Warner Bros. and Netflix had a deal, Paramount will be the ultimate winner, assuming antitrust regulators don’t stop it, which seems unlikely. Now, Warner Bros. employees are reportedly preparing for a "blood bath."
While the outcome is a shocking one, considering how much Netflix acted like their deal was done, for many in Hollywood, the Warner Bros. situation was seen as a choice between bad options. Both mergers were seen as bad news for Warner Bros. as a studio, and for Hollywood in general. An unnamed Hollywood agent spoke to Page Six and said the only thing that was truly being decided was the method of execution.
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