The director James Cameron is no Trump supporter but he made clear his opposition to Netflix’s takeover of one of Hollywood’s oldest and best known studios.
In a letter to the chair of the Senate’s anti-trust subcommittee this month, which was first reported, external by CNBC, Cameron wrote: “I believe strongly that the proposed sale of Warner Brothers Discovery to Netflix will be disastrous for the theatrical motion picture business that I have dedicated my life’s work to.”
Sarandos argued that Cameron “knowingly misrepresents our position and commitment to the theatrical release of Warner Bros films”, and reiterated his “firm commitment” to a strong showing for the company’s output in cinemas.
It’s been bruising for a company that has always looked like a winner.
Not all of Hollywood agrees with Cameron. Some point out that he has worked with the people behind the Paramount Skydance bid before and he has previously indicated support for their takeover.
The actor Mark Ruffalo has suggested a Paramount Skydance takeover would also be “monopolization”.
By definition, one of the five major Hollywood studios taking over another is consolidation. The fear is that it will lead to serious job losses.
If the bid is accepted and makes it through regulatory hurdles, the new company will own the news channel CNN, as well as CBS News, which it acquired when Paramount and Skydance merged last year.
On top of the likely job cuts as two newsrooms are aligned, there will be claims that the news services are becoming concentrated in the hands of allies of the president.
Its chairman and CEO David Ellison, as well as his billionaire father Larry, are associates of Trump, who is a long-time critic of CNN and has previously urged the winning bidder to oust its “dishonest” leadership.
It’s worth remembering that Netflix had not bid for CNN. Its proposal was to take over Warner’s studios and streaming services, but to spin off the news part of the company.
Paramount Skydance, on the other hand, is buying the whole company, including CNN.
If it goes ahead, Trump may get what he wished for.
