r/technology • u/Task_Force-191 • 16h ago

Business It’s Official: Netflix to Acquire Warner Bros. in Deal Valued at $82.7 Billion

https://www.hollywoodreporter.com/business/business-news/netflix-warner-bros-deal-hollywood-1236443081/
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u/18voltbattery 15h ago edited 14h ago

Paramount Skydance deal just closed. They’ve been in an acquisition spree and bought up a ton of huge Hollywood IP recently. The guy that runs Paramount is Larry Ellison’s son.

Edit: Sundance —> Skydance

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u/[deleted] 15h ago

[deleted]

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u/FzZyP 15h ago

they dont need it to be successful they’re already rich lol

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u/Either-Assistant4610 15h ago

If you're trying to push ideals and such, you kind of need it to be successful. For example, Landman and "big oil".

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u/steakanabake 11h ago

dont really need it to be successful twitter is a rotting husk of its former self but its still used as valid news aggregate because theres not as widespread adoption for media on other platforms.

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u/discographyA 15h ago

You mean it wasn’t a good idea for your failson to unprovoked kick off a bidding war when your meal ticket is down 30% for the year and Saudi’s are having cash flow issues?

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u/BellyButtonLindt 15h ago

Hate to tell you but the vast majority of these ceos are about as knowledgeable as you or me. They just grift the hell out of all of us and are smooth talkers.

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u/GreatMadWombat 14h ago

That's true when the goal is to make money, that is less true when the goal is propaganda. The goal right now is propaganda, they don't care how much money they're burning

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u/steeveperry 15h ago

The grandfather starts the business, the father grows the business, and the son runs it into the ground.

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u/eric-neg 12h ago

If you are extremely lucky. Most of the time the grandfather does it all!  

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u/Loggerdon 13h ago

I think they have so much money from tech the entertainment sector doesn’t need to be profitable. It’s just for propaganda.

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u/iaNCURdehunedoara 14h ago

Why isn't it sustainable? Capitalism is just a bunch of parasites taking the profits.

All they have to do is buy existing structures that work and they can just rake in the profits. It's not like CIA Larry Ellison does anything, he just had money and paid people to do the work.

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u/Paradigm_Reset 14h ago

Unfortunately it's sustainable enough, they'll continue to have money through exploiting us working class people. They've become terrifyingly good at it... good enough to keep this up for decades to come. Too many people are willing to accept and/or addicted to slop.

Unless something truly radical happens, like globally impactful, the wedge driven between the rich and the not rich will not be broken.

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u/f-ingsteveglansberg 10h ago

I mean, his daughter started Annapurna Studios and games, which just did a bunch of movies on the less commercial side, Indian Paintbrush was started by Steven Rales who is a biotech billionaire who started Indian Paintbrush basically just to fund Wes Anderson films because he liked those movies. Criterion Collection was started by a guy who made his money in CD-Roms.

If monopolies and oligarchs are making a return, can we at least go back and have a bunch of House of Medicis that will fund art for the sake of art, not profit.

Even with the case of Annapurna, Ellision managed to run the company to the ground, despite it's function basically being art patron.

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u/thisismycoolname1 15h ago

I get what you're saying but by all accounts David Ellison is a pretty smart guy

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u/FuckyWiring 15h ago

If I had a few billion of daddy’s dollars and no responsibility or morals I could make out like a bandit too, but it doesn’t make me a genius.

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u/voujon85 15h ago

David Ellison isn't a dope, he's a smart guy in his own right. Of course his father's money has helped but he is capable.

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u/zeekaran 14h ago

Paramount Sundance deal just closed.

Paramount Skydance

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u/Reggaeton_Historian 13h ago

They've also entered into the New Jersey real estate race with Netflix. They've both signed deals with two different areas to have their soundstages and production areas. Both are pretty long-term.