You may have heard recently about the possible takeover of Warner Brothers by either Netflix or Paramount. 

The story has had a few twists and turns since Paramount first offered to buy WB in September 2025.

A major shock came on 5 December, 2025, when a takeover by not Paramount but Netflix was announced, with both Netflix and WB confirming the deal.

However, a few days later, Paramount came back with a rival bid, one that was said to be better for WB shareholders.

A final decision on who gets their hands on the highly valuable Warner Bros IP and studio space will take months to sort out, but meanwhile, UK crew are left wondering what either outcome would mean for them.

The main concern for UK crew is that whoever takes over WB - Paramount or Netflix - will wield far greater power over content and therefore over rates. Having multiple studios is good for crew trying to negotiate rates. Negotation points such as 'X studio paid me this, so you need to as well' are very helpful, but if Paramount or Netflix has a near monopoly on rates, there is a concern that they will be able to drive rates down.

This whole story comes after the merger of Paramount Global and Skydance last year, which in itself was a reduction in the number of production companies and led to a round of big-name stars voicing their concerns over a 'Hollywood contraction'.

If there's any upside to having fewer studios and production companies, it's just that it makes it logistically simpler for Bectu to negotiate a ratified ratecard. Perhaps the chance of finally negotiating a ratified ratecard is higher with less companies to persuade.

The reality, however, is that it’s hard enough for crew to negotiate Bectu rates - nobody wants additional leverage given to the employers - so we need Bectu and other industry unions to really fight our corner over the next few months and years. 

Bectu’s initial statement on the proposed Netflix takeover didn’t mention crew at all (see below for link).

In the US, SAG-AFTRA said that a Netflix takeover would raise “many serious questions about its impact on the future of the entertainment industry, and especially the human creative talent whose livelihoods and careers depend on it”.

In its defence, Netflix itself would no doubt point to its demonstrable commitment to the UK - multiple, long-term stage hires at Shepperton and billions invested in shows like Sex Education, The Crown and Bridgerton, all made in the UK.

Despite those productions, Netflix will battle criticism over content quality. Some people see Netflix’s original shows as lowest-common-denominator viewing - productions that invest heavily in big-name stars and don’t leave much budget for the rest - crew included. 

A Netflix takeover could also be seen as a further nail in the coffin for cinemas. The company may or may not yearn for Oscar-winning credibility, but its primary focus so far has not been theatrical releases. As one example, the Netflix-backed Maestro (Bradley Cooper’s biopic of Leonard Bernstein) was given a limited run in theatres, so that it could qualify for award ceremonies, but was available to stream on Netflix just four weeks later. 

On the other hand, Paramount releases dozens of its films theatrically every year and - taking a clear swipe at Netflix - made a prominent announcement about its commitment to theatrical releases as part of its rival bid.

This is only important to crew in as much as a further decline in cinema-going is not necessarily a good thing for the industry.

Meanwhile, Netflix or Paramount, if a deal goes ahead, would at some point take over the Warner Bros studios at Leavesden. Crew will be wondering if they’d run Leavesden to the same standard that WB has done. 

In the few days in which Netflix was believed to have won the battle, analysis by Deadline.com suggested that the immediate future for those working on Warner productions was unlikely to change: "The WB studio and streaming divisions will likely carry on and do business the way they are used to for up to 2-3 years.”

We'll post more details here as the situation develops.

Netflix’s statement on 5 December announcing its WB takeover:  https://about.netflix.com/en/news/netflix-to-acquire-warner-bros

Deadline article analysing the proposed Netflix takeover: https://deadline.com/2025/12/netflix-warner-bros-takeover-analysis-reshape-business-1236637120/

Bectu’s statement on the proposed Netflix takeover: https://bectu.org.uk/news/bectu-responds-to-proposed-takeover-of-warner-brothers-by-netflix

BBC news story about Paramount’s rival bid a few days later: https://www.bbc.co.uk/news/articles/cj69xzpzrdyo

The ongoing boardroom battle, explained in this BBC article: https://www.bbc.co.uk/news/articles/cm21z4zgkx7o

Debate over Paramount and Netflix’s respective theatrical releases:

https://variety.com/2025/biz/news/paramount-promises-30-films-in-theaters-hostile-takeover-bid-warner-bros-discovery-netflix-1236603343/