Warner Bros. Merger Sparks Concerns Over Media Consolidation
Warner Bros. Discovery merger reshapes the entertainment industry.
Photo by dasomm
On Oct. 6, Paramount Skydance completed its $110 billion acquisition of Warner Bros. Discovery, bringing major entertainment brands including Warner Bros., Paramount Pictures, CBS and CNN, along with streaming services HBO Max and Paramount+, under one corporate umbrella. The deal creates a larger competitor in an entertainment industry increasingly dominated by major media companies.
The merger comes as studios face growing competition from streaming platforms and pressure to reduce production costs. Paramount argued that combining the companies will create “a highly competitive DTC business that expands both consumer choice and opportunities for creative talent and labor.” However, the deal has also raised concerns about employment and the future of creative independence.
For Sam Carine ‘28, a media studies and production student at Marist University, the biggest concern is the growing concentration of power in the entertainment industry.
“The largest consequence of the recent massive media acquisitions that have happened in the 2020s is primarily the simple fact that they are creating monopolies,” Carine said. “For a capitalist system to truly work in a just way, there must be little to no monopolies. Monopolies in the media sector are no different.”
The merger has raised questions about which films will receive funding and whether studios will continue supporting projects that do not guarantee financial success. The combined company faces significant financial obligations following the acquisition.
Reuters reported that Skydance is taking on approximately $80 billion in debt following the merger and plans to cut $6 billion in costs over three years. Carine worries that these financial pressures could come at the expense of artistic expression.
“They lower the quality of media as a whole, and they ruthlessly cut out parts and projects deemed ‘unprofitable,’” Carine said. “Whether or not a film is profitable has no bearing on the quality of the piece, like all works of art. These are my largest concerns as someone entering the media industry.”
For aspiring filmmakers, fewer major companies making production decisions could mean fewer opportunities for experimental films, emerging directors and stories that appeal to smaller audiences.
Carine sees independent studios as one possible alternative, pointing to A24 as an example of a company that has built a reputation for supporting distinctive projects outside the traditional Hollywood blockbuster formula.
Carine also pointed to documentaries as evidence of the importance of supporting projects that may not generate blockbuster profits. Although documentaries can face financial and legal challenges, they provide opportunities to explore real-world issues that might otherwise receive less attention.
The merger also raises questions about the relationship between corporate ownership and political influence. Paramount's $16 million settlement with President Donald Trump in 2025 drew public scrutiny after CBS announced that “The Late Show with Stephen Colbert” would end in May 2026.
Colbert had criticized the settlement, prompting questions about the timing of the show's cancellation. CBS then cited financial reasons for ending the show, and no evidence suggests that the show was canceled for political reasons.
Carine sees the situation as an example of why media ownership deserves attention beyond business and entertainment. When major corporations control both studios and news organizations, their decisions can influence which stories audiences see and how freely media personalities can criticize powerful figures.
Another major concern for Carine is artificial intelligence and its potential effect on employment in film and television. As companies look for ways to reduce costs, AI tools have sparked debate over the future of acting, screenwriting and other creative jobs.
Hollywood unions have pushed for protections surrounding AI, compensation and the use of artists' work. Carine believes those organizations will be essential in protecting workers as technology continues to develop.
“As a film student entering the industry, I am afraid of the rapid concentration and monopolization of the media landscape,” Carine said. “However, the truth is that Film and TV are industries composed of artists. Artists who, especially actors, are generally staunchly opposed to AI.”
Carine believes the industry's resistance to replacing human creativity with technology offers some hope, even as major companies face pressure to maximize profits.
“Monopolies care about nothing but power and money, and they would soon replace us all with AI if they could,” Carine said. “But the film industry is one that is actively resisting this and will continue to.”
The merger marks another major shift in an entertainment industry where corporate power continues to grow. For students like Carine, the consequences could eventually reach beyond the biggest studios and affect the kinds of films that get made and the opportunities available to new filmmakers.
Whether Hollywood can balance its business interests with its artistic purpose remains an important question for the next generation entering the industry.