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The Golden Globe nominations came out on Monday, and two films dominated: One Battle After Another with nine nominations and Sinners with seven. On the television side, The White Lotus led with six nominations.
These productions have something in common: They are all products of Warner Bros. Discovery, which has also dominated the box office this year. A record seven straight Warner Bros. releases debuted with more than $40 million in receipts in their opening week this year, the most consistent run of success in movie history.
This all begs the question: Why did a critical darling and commercial juggernaut publicly auction itself off, and why is it now caught in a bidding war between Netflix, with which Warner Bros. agreed to a merger last week, and Paramount, which made a hostile takeover bid on Monday? What is a successful movie and streaming studio, whose finances are going to look better once it sheds its dying cable channels as planned, so desperate for a new corporate parent?
Understanding why demonstrates the pathology of the modern economy, Wall Street’s drive to consolidate, and why Americans feel helpless in an age of corporate power.
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