What I’ve said for years is now being echoed by studio insiders and industry execs – that big tech is circling the studios – and the sell-off is happening.
The latest confirmation comes from Deadline, reporting on FX Chairman John Landgraf’s comments that a Paramount-Skydance acquisition of Warner Bros. Discovery—or another major merger involving the remaining studios—isn’t just likely, it’s “inevitable.”
This follows everything I’ve been reporting about Warner Bros. Discovery CEO David Zaslav, who is actively seeking a buyer and trying to spark a bidding war among tech giants like Apple, Amazon, and Netflix.
FX Chairman John Landgraf Says Paramount-WBD Deal (Or Another Mega Merger) Is "Inevitable" https://t.co/BtUqZPOz4n
— Deadline (@DEADLINE) September 18, 2025
FX Boss: Industry “Structurally Requires” Consolidation
Speaking at the Royal Television Society’s Cambridge Convention, Landgraf explained that the streaming market can’t support this many platforms, especially globally.
Via Deadline, he said the U.S. legacy studios—Paramount, Universal, and Warner Bros.—don’t have the scale needed to compete with giants like Netflix, Apple, and YouTube, and so the consolidation of at least two of those companies is necessary.
“I really honestly think it’s inevitable,” Landgraf said, pointing to the unsustainable nature of their business models. He noted that many of these companies can’t scale past 200–300 million global subscribers without merging, and that creative departments will take a hit due to fewer buyers and increased efficiency.
This confirms what I’ve reported: Zaslav’s breakup of Warner Bros. Discovery was never just about cutting costs—it was a setup for a sale.
Over the years, various reports have also offered that Apple might be interested in Disney, and that the big tech companies would be scooping up the major movie studios for pennies on the dollar (my guess, Lionsgate could be next).
Zaslav’s Strategy is Playing Out
Landgraf’s comments give even more weight to the ongoing reports that Zaslav is shopping Warner Bros. Discovery around.
The New York Post recently revealed Zaslav has already met with bankers at Goldman Sachs to gauge interest and drive up stock value, hoping to spark a bidding war.
Ellison’s Skydance is also a contender to buy WBD, and Zaslav knows that Amazon, Apple, Netflix, and Skydance are flush with cash and hungry for global content.
Analysts are already calling Netflix the most compelling buyer for Warner Bros., which would include DC, HBO, WB Games, and more.
Tech Giants Are Reshaping Hollywood
Landgraf also explained how FX is adapting to this new landscape. His strategy now focuses on creating a few globally resonant series rather than chasing volume. He pointed to Shōgun as an example—a series that’s performing better internationally than domestically—and noted that Disney is repositioning its creative capital to compete with tech-backed platforms.
