WHAT DO WE DO NOW? Paramount is Buying Warner Bros Discovery

Paramount emerged as the buyer for Warner Bros. Discovery after Netflix bowed out, triggering uncertainty about what comes next for fans and for physical media collectors. I share my thoughts on the outcome, and why I am staying "slightly obsessed" about physical media.

Email a response or comment to: info@theextras.tv

Leave a voicemail with your comments or feelings about the pending merger: 424-235-0732

By providing an email or voice message, you agree that it may be used in an upcoming podcast. Thank you for supporting The Extras.

The Extras Facebook page

The Extras TV YouTube Channel
The Extras Twitter
Warner Archive & Warner Bros Catalog Group

Join our new public Facebook Group for Warner Archive Animation Fans and get the latest update on all the releases.

As an Amazon Affiliate, The Extras may receive a commission for purchases through our purchase links. There is no additional cost to you, and every little bit helps us in the production of the podcast. Thanks in advance.

Otaku Media produces podcasts, behind-the-scenes extras, and media that connect creatives with their fans and businesses with their consumers. Contact us today to see how we can work together to achieve your goals. tim@theextras.tv

Transcript

Setting The Stage: The Sale

Board Decision And Netflix Exit

Regulatory Hurdles And Market Reality

Business Evolves, Outcomes Unknown

A Casablanca Moment Of Perspective

Personal History At Warner

What Fans Can Control

Keep Buying, Keep Collecting

Gratitude And How To Respond

Tim Millard 0:00

Hi, Tim Lard here. For those of you who follow the X-rays, you know that I have refrained from commenting on the impending purchase of Warner Brothers Discovery. And one of the main reasons is that until this past Thursday, we didn't know if the new buyer was going to be Netflix or Paramount Skydance. Like many of you, I have been following the ongoing purchase saga with interest. And while a purchase agreement by Netflix was approved last November, Paramount was determined not to give up without a fight. And last Thursday, the Warner Brothers Discovery Board decided that the latest Paramount offer was the best offer. Netflix then had four days to respond and potentially beat that offer, but almost immediately Netflix announced that it was bowing out, leaving Paramount the winner. This was a shocking turn of events for many in Hollywood, and I was shocked as well. But it seems certain that one of these companies would eventually prevail, and that now looks like Paramount. Yes, there are still some obstacles, such as regulatory approval by the U.S. government and the governments of other countries, but both Netflix and Paramount have stated all along that they didn't feel like this would be an obstacle. Now I'm not going to opine on the merits of the two companies or what would have been the best for Warner Brothers Discovery. These are all publicly traded companies, and they are obligated to do what is in the best interest of their stockholders. This may be Hollywood with characters and actors and stories we all love, but it's show business. And a business can never stay the same. A business must evolve with the changes brought on by competition, technology, and changing consumer tastes. So only time will tell us if this is the best outcome for Warner Brothers discovery. So where does that leave us? The fan, the physical media from Warner Brothers, and more specifically the Warner Archive. Well, I spent the weekend thinking about this, and a quote from a movie we all know and love kept replaying over and over in my mind. That's the power of a movie, of course, that often we interpret our lives or current events in the framework of a story or film we love. This is the line. Someday you'll understand that. Now now, here's looking at you, kid. Well, if you didn't recognize it at first, you probably recognized it from that last line. Here's looking at you, kid. Now I have no idea why that line popped into my head, but something tells me it has a bit to do with fate and our lack of control over the future. And maybe a little bit of sadness and nostalgia over the way things were, or that I hoped it could be. Many of you know that I worked at Warner Home Video for almost 14 years. I loved working there because I loved the brands, the animation, the TV shows, the movies that make Warner Brothers one of the most beloved film studios in history. But I was a casualty of the previous owner and still large stockholder, AT ⁇ T's financial struggles, where they had to cut debt and decided that meant laying off employees and eventually selling the company to Discovery. It was a huge blow, and I wish it had never happened, but it did, and I moved on. Not because I wanted to, but because there is no other choice. Many of you have been laid off from jobs, so you understand what I'm talking about. It can be gut-wrenching to say goodbye to your friends and coworkers to no longer be able to work with such gifted and creative people, adding your little piece to that company that has hopefully benefited from your time as an employee. So I have more than a small vested interest in what happens with Warner Brothers Discovery. No, I don't work there anymore. Yes, I do have a podcast that combines my love for the company and its library of characters and stories. But like Rick in Casablanca, I'm just one man caught up in a larger story, and my opinion or fear or preference doesn't amount to a hill beans. And the same really goes for all of us. We aren't going to change the outcome of who buys or sells Warner Brothers, whether now or in five or ten years. Warner Brothers has been bought and sold numerous times over the hundred plus years of its existence. Meanwhile, Bugs Bunny has endured, Clark Gable, Betty Davis, Joan Crawford, James Cagney, and Humphrey Bogart, they all continue to endure. And that's not going to change. So what should we do? Well, I know what I'm going to do, and that is the same as I did last week, last month, and over the last four years. I'm going to celebrate and keep purchasing the releases from the Warner Archive and Warner Brothers Home Entertainment. So if you feel hopeless as you watch the unfolding of events over the next six months or several years, I suggest you just keep doing what you have been doing. Keep supporting the work of the Warner Archive by buying the films that interest you each month when they come out. Maybe more than before, buy them right away instead of waiting for a sale. That will help show a strong business model and a strong fan base supporting these releases. Will that be enough? I have no idea, but it is the one thing we can keep doing. We've all been collecting and buying our favorite TV shows, animation, and movies so that we can own them, play them when we want, and so that no one can take them away from us. Isn't that what we've already been doing? So I don't think you need to change a thing. Keep buying, keep collecting, and keep watching and listening to the extras. And most importantly, stay slightly obsessed about animation, about TV, and about movies. They endure. I want to thank everyone who supports the extras. If you have a response or comment you'd like to send me, feel free to email me at info at the extras.tv. If you'd like to leave a voicemail with your comments or response to what I said or your feelings about the pending merger with Paramount, call the number you see on the screen or find it in the podcast show notes, and we may share it in an upcoming podcast.