The Stranger Things finale hit theaters on New Year’s Eve. Yet despite doing pretty good with that one-day release, it seems Netflix still isn’t a fan of the theatrical experience when it doesn’t need to be.
Because of the cast’s contractual terms for residuals, there aren’t box office numbers to report for screenings, but Deadline and other outlets reported the finale made $25 million-$30 million worth of concession cash in its 620 screenings across North America. That concession money technically means the episode beat out KPop Demon Hunters as Netflix’s highest theatrical owner for 2025. The finale is also a particular win for AMC, which didn’t screen KPop during that movie’s time(s) in theaters, but reported more than half of all Stranger Things fans watched it at an AMC theater.
You’d think this would be good news as the streamer’s looking to snatch up Warner Bros.—which had a pretty strong big screen run in 2025—and honor that studio’s policy of putting its movies in theaters, but sources speaking to Deadline claim Netflix is considering a 17-day window for any of its potential films. That’s less than half of the 45-day standard adhered to by WB and other Hollywood studios, and AMC and other theatrical chains would very much prefer that standard maintained. Exhibitors would also love for more theatrical runs from Netflix, with the Stranger finale working as a possible “olive branch” to help get that ball rolling.
But if that alleged 17-day window happens, it’d “steamroll” the movie theater business and be bad for everyone in general. At time of writing, Netflix hasn’t disclosed any moves it aims to make should it get to acquire WB, instead keeping to its stance in December that things will currently be business as usual. But common sense and the streamer’s own past will tell you that things will be anything but, and eventually, that other shoe will drop.
Netflix‘s plans for movies after its projected acquisition of Warner Bros. still remains up in the air, but a new report suggests that the streamer has plans for some very small theatrical windows.
What are Netflix’s reported plans for WB movies’ theatrical windows?
In a new report from Deadline on the theatrical return for the Stranger Things finale, it’s noted that those in Hollywood remain wary of Netflix’s plans for WB movies once they acquire the company. Deadline notes that, although Netflix co-CEO Ted Sarandos has said nothing will change, sources note that Netflix have been “proponents of a 17-day” theatrical window for films.
The move, should it come to fruition, is one that Deadline notes would “steamroll the theatrical business,” with the report mentioning that companies like AMC believe a 45-day window is a line that cannot be crossed. While no confirmation of any theatrical window exists, Deadline has reportedmultipletimes through December that Sarandos is a big fan of the 17-day window structure.
Although rumors suggest Netflix will be shrinking the theatrical windows for films if and when it acquires WB, Sarandos himself has said otherwise. Following backlash on the idea of a shorter window and concerns about Netflix’s proposed acquisition of WB, Sarandos has said that it’ll be business as usual when it comes to how WB works.
“There’s been a lot of talk about theatrical distribution, so we want to set the record straight: we are 100% committed to releasing Warner Bros. films in theaters with industry-standard windows,” said Sarandos when Netflix announced the acquisition.
Get ready for a potentially busy time at theaters next year: both Dune: Part 3and Avengers: Doomsdayare coming December 18, 2026.
While the dates for these two films aren’t new, what is is that Dune, at least, is currently sticking to this date. According to reporter Jeff Sneider on a recent “Hot Mic” episode, Warner Bros. currently has no intention of delaying the film, and reporter Matt Belloni separately mentioned recently on his own podcast “The Town” that “neither of them” are budging on the date. Now that Doomsday has put out one of its four teasers for the general public, it’s looking like we’ll be getting another Barbenheimer-type phenomenon in “Dunesday“, as Marvel actor Simu Liu recently declared.
Avoiding whether Dunesday is another Barbenheimer in the making—it’s not, they’re two sides of the same coin where Barbie and Oppenheimerwere on different ends of the blockbuster spectrum—the big question is whether the two films will keep the same date or if one of them will budge. Admittedly, WB was the first studio to pin down a date for Dune: Part 3, and it’s certainly a gutsy move to put its young sci-fi franchise against the more established MCU. But as Sneider noted, first dibs on the release calendar may as well not matter in the court of public opinion—Avengers: Doomsday has teasers to hype up its incoming release, complete with a countdown timer, and Dune doesn’t even have a poster or anything to tease.
On the other hand, Disney’s had no problems moving around release dates for several Marvel movies, Doomsday included. Back when it was still subtitled Kang Dynasty, it was meant to come out this past May, and even after the retitling, it was kicked back to May 2026 before being pushed again to the current December slot. So it wouldn’t be a surprise if it had to be moved around once more, even if it’s weeks before Dune to steal some of its thunder. There’s a good chance either could move up, actually: aside from Spider-Man: No Way Home, MCU movies tend to stop at early November, while the Dune films have landed (or tried to) in September or October of their respective years.
At time of writing, Dune: Part 3 and Avengers: Doomsday will hit theaters on December 18, 2026. Let us know which one you plan to see, if not both, or whichever one you think will get out of the other’s way.
The year 2025 was jam-packed with must-see genre entertainment. io9 covered an extensive range of pop culture across film and television, including major releases from Marvel Studios, DC Studios’ big Superman arrival, Netflix heavy hitters like Stranger Things, and awesome anime.
Beyond the screen, io9 kept you updated on the latest in theme parks and immersive experiences, as well as the latest in collectibles, toys, books, games, and comics.
To close out 2025, we’ve compiled our staff picks, highlighting our most treasured stories and sharp coverage that defined the world of genre entertainment this year.
The Director of Good Boy on Creating Horror From a Dog’s Point of View
By Cheryl Eddy
Most dog owners can recall at least one instance where their pup has reacted to a seemingly invisible presence. Are they picking up a sound pitched higher than our hearing? Sniffing out the memory of a dropped piece of food? Or perhaps… using their canine super-senses to detect something supernatural?
Good Boy, the feature debut of director and co-writer Ben Leonberg, takes that idea and runs with it, following Indy (played by Leonberg’s own dog) and his owner, Todd (Shane Jensen), as they move into the former home of Todd’s late grandfather. It’s a gloomy, dark, isolated place, and—as Indy soon realizes—it appears to be teeming with unquiet spirits. [Read more]
The Superman We Need Right Now: A Report From the Set of James Gunn’s New DC Film
By Germain Lussier
When Superman started kissing the football on a stick, it all clicked together. The day was June 24, 2024, and io9 was in Cleveland to watch the filming of James Gunn’s Superman. At the end of a giant battle over the streets of Metropolis, the Man of Steel knelt down to kiss and profess his love to an inanimate object that special effects would later transform into his dog, Krypto. That little dash of heartfelt weirdness, in the middle of a massive action scene, did a near-perfect job of showing what the film’s cast and crew had been trying to articulate all day: this is not just a unique, new Superman, it’s James Gunn’s Superman. [Read more]
In Sinners, Honesty Leads to Freedom
By Justin Carter
Sinners is the type of movie where nearly every scene could be considered a standout moment on a technical, writing, or performance level. For me, there’s two moments—one utterly sincere and raunchy, the other delightfully meta—that speak to one of the film’s core themes.
In the first, burgeoning blues guitarist Sammie (Miles Caton) is getting intimate with singer Pealine (Jayme Lawson) and proceeds to get on his knees. He’s about to employ the advice his older cousin Stack (Michael B. Jordan) gave to him about pleasuring a woman earlier in the film, and just as Pearline’s about to politely decline, Sammie looks up at her and says: “You’re beautiful, and I want to taste it.” He’s clearly taken with her, and says this with the earnestness of someone who believes in what he’s saying. [Read more]
What’s the Story Behind Tron: Ares? Our Report From the Set
By Germain Lussier
“I have to ride a lightcycle.” That was my first thought last year when the invite arrived to visit the set of Disney’s new sequel, Tron: Ares. It seemed like a logical request. When you think of Tron, you think of lightcycles. They’re a huge part of both 2010’s Tron: Legacy and 1982’s Tron. And yet, I had to wonder, were there even lightcycles in this movie? What exactly WAS this movie? Coming out 15 years after the last one, with basically a whole new cast, it seemed any concept of what the film could or would be was entirely up in the air. I had questions. I wanted answers. And, perhaps, a ride on that lightcycle. [Read more]
I Love the Moment That Everything Changes in Gundam GQuuuuuuX
By James Whitbrook
The latest entry in the Gundam franchise, GQuuuuuuX, is built around one of the most fascinating premises a mainline Gundam show has had in years. To get there, we’re asked to cast our minds back over 45 years to the original 1979 anime—and in doing so, we’re also asked to consider a pretty hilarious idea.
The vast majority of Gundam GQuuuuuuX—as covered in its prequel/compilation movie GQuuuuuuX Beginning, out in American theaters today for a limited run—is predicated around the fact that the show is in fact set in an alternate version of Gundam‘s “Universal Century” timeline. The primary timeline of the original Gundam and its direct successor series, among others in the franchise, GQuuuuuuX‘s version of events asks us to consider another outcome. What if the antagonistic forces of the original series, the secessionist space colony Zeon, actually managed to win the war against Earth? [Read more]
7 Reasons Why The Nightmare Before Christmas Is Not a Halloween Movie, 4 Reasons Why It Is
By Sabina Graves
Every year, it seems that Halloween creeps in earlier than before, and with it, its Pumpkin King, Jack Skellington.
Take the Haunted Mansion Holiday at Disneyland; it’s a haunted house with ghosts that, as soon as Halloweentime arrives at the Disneyland resort at the end of summer, becomes inhabited by Jack and the people of Halloweentown. However, they’re not there for Halloween; they’re there to make Christmas. There’s the rub, because the once cult and now very mainstream holiday staple from the mind of Tim Burton and director Henry Selick is about one holiday taking over another. [Read more]
Bryan Fuller Reveals the Inspirations for His Dark Fairytale Feature Debut
By Sabina Graves
He’s best known for his acclaimed genre TV shows, but Bryan Fuller (Hannibal, Pushing Daisies) is making his feature film directorial debut with Dust Bunny, a coming-of-age storybook fantasy with his signature twist.
The film reunites the Hannibal series creator with star Mads Mikkelsen. He plays a hitman hired by a young girl named Aurora (Sophie Sloan), who wants his help to hunt the mysterious and monstrous Dust Bunny tormenting her apartment.
In a recent conversation with io9, Fuller talked about how the feature got the big screen treatment after previously being pitched as an episode of the Steven Spielberg-produced Amazing Stories series for Apple TV, and what it was like working on it with genre great Sigourney Weaver. The cult-fave creative mind also opened up about how he feels in regards to some of the projects he’s been attached to that have fallen through—as well as his excitement for a project yet to be announced. And yes, we even got a few details about his potential Silence of the Lambs limited series. [Read more]
Birds of Prey Deserved Its Full, Chaotic 15 Minutes of Fame
By Justin Carter
It always sucks when something that’s pretty good and was clearly well made just doesn’t hit the way it seems like it should’ve. This is particularly true when it comes to movies; think of a film you saw that was surprisingly enjoyable and how it didn’t really get a fair shake for whatever reason.
Plenty of examples come to mind for me, but one of the first is Harley Quinn: Birds of Prey. Originally released on February 7, 2020, under its initial (and funnier) title, Birds of Prey (and the Fantabulous Emancipation of One Harley Quinn), the film’s a bit of a tangled knot. You may remember it first seemed like a solo vehicle for Margot Robbie’s Harley post-Suicide Squad 2016, then somewhere along the line, it also may have become something for the popular, usually women-starring B-list superhero team, and then ended up being… kind of both? [Read more]
Castlevania: Nocturne Writers Talk Religion, Revolution, and Black Representation
By Isaiah Colbert
Castlevania: Nocturne returns with its second season on Netflix, sparking online discussions about video game references, animation enthusiasts sharing their favorite action clips, and Alucard babygirl posts in its wake. However, a new season also brings the resurgence of pearl-clutching and Gamergate-adjacent rhetoric concerning Black representation, which should be celebrated in the Powerhouse Animation series instead.
To address and preempt criticisms from those who deride the inclusion of Black characters in the video game series as “woke,” we talked to Black Castlevania: Nocturne writers Testament and Zodwa Nyoni, and executive producer Clive Bradley, about how they enriched Konami’s fantastical source material setting with real-world events and the Black experience. [Read more]
How Fionna and Cake Reflects the Legacy of Adventure Time
By Sabina Graves
Season two of Fionna and Cake has arrived on HBO Max, taking Adventure Time fans into a new world—and it’s one that’s finally established as its own universe, thanks to Prismo breaking the rules and making the Ice King’s fan fiction real.
The first season’s ending metatextually had Fionna and friends fight to make their world canon, and there’s now more to explore in its earned existence and how it might cross over into Adventure Time‘s Land of Ooo.
But don’t get the premise twisted, Fionna and Cake isn’t just fan service to sneak back into Adventure Time territory completely. In a conversation io9 had with producer Adam Muto, we discussed how the creative teams aim to make their beloved character variants stand on their own and, yes, sometimes stand with the legacy faces to take on new interdimensional threats. [Read more]
A Love Letter to Cobra Kai, One of the Greatest Sequels Ever
By Germain Lussier
When I first watched Cobra Kai, I stopped it five minutes in. This is a true story. I started the first episode and was so absolutely blown away by what I was seeing, I almost didn’t believe it was real. Since I was about five years old, I’d been a massive fan of The Karate Kid franchise, and here I was in my 30s watching the same actors from those movies tell this dynamic, awesome, follow-up story. There was no way this show was this good. It was impossible. [Read more]
Tony Gilroy Looks Back on Taking Shit Seriously in Andor
By James Whitbrook
Tony Gilroy is a man with a vision. That vision guided him from the extensive reshoots of Rogue One: A Star Wars Story all the way to a Disney+ series about one of that film’s heroes, Cassian Andor—and finding in it a critical acclaim unlike anything the galaxy far, far away had seen in a generation.
He’s also a very frank man who knows when that vision can potentially turn on a dime—as it did one day while filming the series in Scotland, when the writer, director, and showrunner realized that his grand plan for Andor wasn’t going to work. [Read more]
Andor‘s Tony Gilroy and Genevieve O’Reilly Break Down Mon Mothma’s Pivotal Dance
By Sabina Graves
During io9’s interview with showrunner Tony Gilroy and star Genevieve O’Reilly, who plays Mon Mothma, the duo broke down the last moments of the third episode of this week’s drop. Gilroy also discussed how framing these pivotal years as three-episode mini-movies came about. [Read more]
Andor‘s Finest Hours Just Delivered a Huge Gut Punch
By Sabina Graves
What it takes to sustain a rebellion is brought into question in this week’s episode arc of Andor, which covers what happens two years before the main events of Rogue One: A Star Wars Story and the original Star Wars saga. Thematically it’s time for the rebels to figure out if they want to just fight or actually win, as tensions come to a head on Ghorman in what’s probably the most gut-wrenching watch of the series, and perhaps even Star Wars as a whole. [Read more]
Who Was Syril Karn?
By James Whitbrook
“Who are you?” is the question that haunts Syril Karn for his entire life. From the moment we met him, prim and proper security uniform modified to be just so, a sense of purpose in a vast and uncaring universe has been at the core of understanding what makes Syril tick. The journey that took him across the galaxy reached a climactic moment in Andor‘s penultimate arc this week, and raised that haunting question once more. But the answer is more complicated than mere villain in Andor‘s narrative, doubting or otherwise. Because even as the hero of his own story, the man we know Syril to be, until the very end, is shaped less by himself and more by the systems and structures that made a tool of him. [Read more]
They Just Gave Kleya a Goddamn Gun
By James Whitbrook
There’s a scene in the ninth episode of Andor‘s second season where Vel Sartha, inspecting a table full of requisitioned weaponry at the Rebellion’s Yavin base, picks up a blaster and asks whose it is. Except, that’s not what she asks, raising the pistol into the air in front of a crowd of new recruits. What she actually says is “Who belongs to this?”
I was thinking a lot about that line an episode later, when, as she infiltrates a hospital in a desperate attempt to end the life of the man who saved hers as a child, Kleya Marki, one of Andor‘s standout characters, slips a tiny blaster with one hell of a kick out of her purloined nurse’s scrubs and calmly executes an ISB tactical officer. And then does it again. And again. It’s the climactic, tense moment of an episode that builds up to this singular moment of emotional and dramatic release as she tearfully turns off Luthen’s life support. In many ways, Kleya’s whole life, one torn apart by the Empire, and rebuilt out of her hatred of it, is leading to this moment, and this moment of infiltration and execution is just the final flourish. [Read more]
Vinland Saga Creator Makoto Yukimura Looks Back on Writing His Pacifist Viking Epic
By Isaiah Colbert
Anime and, by proxy, manga are typically viewed through a lens where violence begets violence, and the only hero is one with attention-grabbing hairdos, the ability to power up, and the capacity to punch things even more brilliantly. Very rarely is the traditional hero’s journey, whether in shonen or its older brother genre, seinen, predicated on having its hero question the nature of violence as a catch-all solution, rather than a spoke that keeps the cycle spinning. Then again, not every manga series challenges that notion so brilliantly as Vinland Saga. [Read more]
Revolutionary Girl Utena Is as Lynchian as Shojo Anime Has Ever Been
By Isaiah Colbert
Over the years, critics and everyday people have come to identify media as “Lynchian,” in reverence for how video games, movies, and TV shows evoke the dream-like quality of the late auteur David Lynch. Although most media described as Lynchian takes its inspiration from seminal works like Twin Peaks through referential nods, no show completely embodies the ephemeral vibe of Lynch’s opaque-yet-piercing style of storytelling quite like the similarly influential shojo anime series Revolutionary Girl Utena. [Read more]
Deep Space Nine Understood the Fantasy of Spies—and Their Reality
By James Whitbrook
In just under a week, the next Star Trek project arrives in the form of Section 31, a streaming movie starring Michelle Yeoh diving into the titular black ops organization—one that, at least in all the footage we’ve seen so far, puts an emphasis on the glitz and glam of secret agent work. There’s action, there’s dazzling costumes, there’s even, perhaps most surprisingly in the context of it all, direct Federation oversight, like a co-worker with a stick up their ass who’s here to stop you from having fun. [Read more]
The Leftovers Is Still One of TV’s Great Miracles
By Cheryl Eddy
Losing a loved one brings pain no matter the circumstances. Not knowing what happened to them only adds more agony. That grief and confusion is what propels The Leftovers, but on a global scale—leading to three fascinating, thought-provoking, audacious, cigarette-filled, and often miraculous seasons of TV.
At the start of the first episode, it happens: two percent of the world’s population vanishes into thin air. The amount of missing isn’t huge, but it’s significant. The people who lost someone dear are personally wounded, but nobody escapes being touched in some way by the event, which leaves humanity with an infuriating array of mystical questions. Why did those who left get “chosen”—and why were those who didn’t go get left behind? Was God or some other cosmic being involved? Where did they go? Will they ever come back? And will it happen again? [Read more]
The 6 Biggest Moments in the Shocking Foundation Season 3 Finale
By Cheryl Eddy
Foundation season three has come to an end, but it still feels like there’s so much story left to tell. Thank goodness Apple TV+ confirmed just yesterday that season four is on the way! But before we ponder what’s next, we must discuss the season finale.
“The Darkness” was… well, a lot sure did happen, didn’t it? [Read more]
Stranger Things Lets It Rip to Kick Off Its Final Season
By Sabina Graves
The conclusion to Netflix and the Duffer Brothers’ pop culture phenomenon Stranger Things begins with an epic first volume that’s now streaming for your binging pleasure.
Action and horror propel the return to Hawkins in volume one as our heroes race to find Vecna (Jamie Campbell Bower), hoping to vanquish him once and for all. In the time since the Upside Down ripped open in season four, Eleven (Millie Bobby Brown) has been training with Hopper (David Harbour) to strengthen her powers. Seeing Eleven’s growth into a strong as hell young woman from her early days throwing bullies off her friends is such a joy. Clearly, that’s thanks to Eggo waffles. [Read more]
Why Gainax’s Gunbuster Pose Is More Than Anime Rule of Cool Reference Fodder
By Isaiah Colbert
Anime of the late ’80s has an undeniable impact that extends beyond the medium into movies, TV shows, and video games. Many of the homages are to 1988’s Akira, which existed before Western culture had a grasp of what anime really was or could be. The “Akira slide”—an iconic shot of Kaneda sliding sideways on his bike in the 1988 movie adaptation of Akira—has become an icon of anime culture, referenced over and over in numerous cartoons and films, western and Japanese, ever since, including Jordan Peele’s Nope, Tron: Ares, and Metroid Prime 4: Beyond, amid an ocean of other Akira nods.
While Akira references are rife in new media like Naughty Dog’s Intergalactic, letting fans know that the creators are aware of its rule of cool, it’s hard not to feel a bit like the buck stopped at aping aesthetics for easy internet referential brownie points over carrying over its core narrative themes. Although most pop culture nods (Scavengers Reign aside) borrow Akira‘s surface style without echoing its thematic depth, every homage to fellow 1988 anime film Gunbuster‘s iconic arm-cross pose endures as a timeless gesture of steeled resolve wrapped in a badass stance. [Read more]
Meet Freddy Fazbear and Friends at Halloween Horror Nights’ Five Nights at Freddy’s House
By Sabina Graves
Take a look inside the Five Nights at Freddy’s house at Universal Studios’ Halloween Horror Nights. It looks like a real Freddy Fazbear’s Pizza location right out of the mind of game creator Scott Cawthon and Emma Tammi’s cinematic adaptation.
io9 was invited to a behind-the-scenes walkthrough of the Hollywood attraction based on the video game and Blumhouse film franchise, opening at HHN ahead of December’s Five Nights at Freddy’s 2. Creative director John Murdy took us through to highlight the incredible work done between Horror Nights, Cawthon, and Jim Henson’s Creature Shop. [Read more]
How Science Fiction Became the Key to This Year’s Most Buzzed About Concert
By Germain Lussier
2001: A Space Odyssey. Star Wars. Star Trek. Tron. Blade Runner. Akira. The Fifth Element. Interstellar. Superman. Flash Gordon. The Matrix. That sounds like a list of the greatest sci-fi films of all time, but actually, it’s a list of the films mentioned during a discussion about the inspirations behind the Backstreet Boys’ popular new residency at the Sphere in Las Vegas, Nevada.
This past July, one of the biggest boy bands of all time celebrated 20 years of their iconic album, Millennium, at the technologically advanced venue, with two months of sold-out shows that generated a ton of buzz and interest. As a result, two more months of shows were recently added, and io9 spoke to Baz Halpin, CEO and founder of Silent House, about it. [Read more]
KPop Demon Hunters and Expedition 33 Are Having a Moment
By Justin Carter
Have you watched KPop Demon Hunters on Netflix or played Clair Obscur: Expedition 33?
Chances are the answer is “yes,” and if not, you’ve certainly heard of them: both were released earlier this year to fairly glowing reviews (if not outright critical acclaim) and performed very well commercially. The latter, a turn-based RPG from newcomer Sandfall Interactive, will likely pick up some awards at year’s end, while Netflix is planning to go all in on KPop. Along with talks of sequels and an ever-growing wave of merchandise, the streamer submitted the mid-movie song “Golden” for Academy Award consideration. Both may also wind up jumping to live-action; Expedition had a movie announced months before the game’s release, while Netflix is reportedly mulling over a remake with human actors. [Read more]
Epic Universe’s Monster Lore Gives Us the Best Possible Dark Universe
By Sabina Graves
When you visit Epic Universe’s Dark Universe, you get hints of a story that’s so mysterious you’ll want to keep coming back to learn more. In Darkmoor Village, where monsters and humans co-exist—barely—the relationship between the villagers, the mad scientist in her castle with her monsters, and the vampires below is a very fragile menagerie of the macabre.
When io9 visited Darkmoor during Epic Universe’s opening week, we couldn’t help but wonder if the dense canon introduced would offer some insight into Universal’s abandoned Dark Universe film franchise. It turns out that some elements in the attractions, details in the land offerings, and immersive interactions echo what was once supposed to herald an Avengers-like assembly of the Universal Monsters on the big screen. [Read more]
Death Stranding 2 Is Hideo Kojima’s Most Refined and Relentless Vision Yet
By Isaiah Colbert
When Hideo Kojima—the man fashioned into a video game auteur out of his work on Metal Gear Solid—launched his debut title under the newly formed Kojima Productions in 2019, Death Stranding arrived shrouded in mystery and hype. Every Death Stranding trailer was full of cryptic imagery and spectral apparitions, and its stacked cast featuring Norman Reedus, Léa Seydoux, and Mads Mikkelsen set expectations sky-high. It was also the first title to come from the creator following a messy and public exodus from Konami. Would Kojima once again rewrite the rules of game design?
Upon release, Death Stranding didn’t disappoint so much as it defied prediction. At its core, it was an immersive, slow-burning post-apocalyptic courier simulator. Players took control of Sam Porter Bridges, a pulp comics-esque naming convention of a protagonist suffering from aphenphosmphobia, an extreme fear of being touched, tasked with completing a herculean cross country trek across haunted landscapes by plagued eldritch horrors with the help of a baby in a container on his chest—avoiding environmental hazards and balancing parcels on every available piece of real estate on his body to “reconnect America.” Reductively, Death Stranding is regarded in gaming circles as a “triple-A” indie game, with a weird (but not overly confusingly dense) world-building serving as the connective tissue propelling every careful footstep on Sam’s odyssey. What Death Stranding lacks in conventional thrills, it made up for with sheer conceptual weight. [Read more]
Walt Disney Returns as a Surreal Animatronic for Disneyland’s 70th Anniversary
By Sabina Graves
As of this week, Walt Disney returns to his original Magic Kingdom, with a little help from the magic-makers at Imagineering.
Through the audio-animatronics technology Walt Disney introduced when he opened Disneyland 70 years ago, the evolution of the show robots has gone from static positioning with some movements, as first seen on the singing birds in the Enchanted Tiki Room, to a roaming animatronic of Uncle Walt. Stationed in the Main Street Opera House, the (m)animatronic is the crown jewel of the Walt Disney – A Magical Life show, where he, along with the help of Disney CEO Bob Iger as the program’s narrator, gets to sit and stand front and center to share his story in his words. [Read more]
Ghost of Yotei Is a Stronger, Self-Assured Sequel
By Justin Carter
There was a moment early on in Ghost of Yotei where I knew it’d won me over. As Atsu, I wasn’t hunting down the Yotei Six who killed my family and left me for dead back in my youth; I was taking on a simple bounty who’d managed to get the better of me. I was all set to watch him plunge his katana in my back and restart the swordfight. Instead, a wolf jumped in out of nowhere, biting him and granting me full health so I could get back up and resume the fight and get my bounty. [Read more]
The Best Disney Park Ride Overlays, and Where to Find Them
By Sabina Graves
Seasonal and promotional ride overlays are now ways to draw in more people to revisit beloved attractions at Disney’s parks or give passholders a reason to come back over and over. Over time some have had more longevity than others, as the most popular overlay continues to be Disneyland’s Haunted Mansion Holiday, which has Jack Skellington and friends take over the West Coast haunt with his spooky Christmas shenanigans. Meanwhile, the haunted version of Space Mountain: Ghost Galaxy seems to have exorcised its spirit—it just might have been a tad too scary, while Star Wars: Hyperspace Mountain stays beating out the rest. [Read more]
Mass Effect 2 Helped Change What Being an RPG Meant
By Justin Carter
The Mass Effect series has always held a special, and often divisive spot in fans’ hearts. BioWare’s sci-fi RPG saga blew up with its first game back in 2007, and its sequel took the franchise to bigger, more mainstream heights. In the years since that game’s release, it’s cast a long shadow—not just over its own franchise and creator, but the larger RPG space, particularly those from western developers. [Read more]
Back to the Future Returns to Universal Studios Hollywood With an Incredible Immersive Experience
By Sabina Graves
With Back to the Future: Destination Hill Valley, Universal delivers on the promise of bringing you into the movies in a new, impactful way. The immersive experience is a triumph and you won’t want to leave.
You get on the studio tour and it becomes a time traveling tram that drops you into the moment that Marty McFly arrives and through the events of Back to the Future on the courthouse square where the Robert Zemeckis film was shot. Through roaming actors portraying George, Lorraine, Biff, and Doc, we get to see iconic moments recreated and be a part of them. I got to chat with my childhood crush George McFly and turned into a total shy mess as he asked if I was going to the Enchantment Under the Sea Dance. The storytelling propels forward as you are able to encourage him to ask Lorraine to go with him and help with his writing before we see the hilarious hijinks of Lorraine hitting on Marty, her future son who she wants to go to the dance with. Biff shows up and causes mayhem while fans spectate and quote along. [Read more]
Deus Ex Did Good Work, and I Wish It Could Do More
By Justin Carter
For as many long-running franchises were born during the PlayStation 3 and Xbox 360 era—your Assassin’s Creeds and Borderlands, to name a few—some old series tried making a return. Among those was Deus Ex, a series of cyberpunk role-playing games which just turned 20 years old and had an unfortunately short-lived return with a duology that under better circumstances, would’ve been a trilogy. [Read more]
Books, Art, and Toys
The full package – Regal Reobot
The Story Behind the Funniest Indiana Jones Prop Replica You’ve Ever Seen
By Germain Lussier
Indiana Jones is always on the hunt for rare antiquities. He’s found the Golden Idol, Ark of the Covenant, Holy Grail, and so much more. All of which makes prop replicas of those things rather obvious. But, for the Indiana Jones fan who wants to be like their favorite adventuring archaeologist and get something more rare and specific, how about a clothes hanger? [Read more]
For Sale: One Book of the Dead, Slightly Used
By Cheryl Eddy
That little getaway in the woods sure would have been much less eventful if Ash Williams and his pals hadn’t decided to read passages out of that creepy old book someone left behind. But we’re so glad they did—thereby awakening the forces of darkness, sparking the events of The Evil Dead and its sequels, launching Bruce Campbell into the goofy action hero pantheon, and giving horror fans endless delights over the past 40-plus years. And now, you can own the actual prop that started it all! [Read more]
You Have to Check Out These Insanely Detailed Pop Culture Sculptures
By Germain Lussier
Play-Doh is not generally considered a pathway to a career in art, but it was exactly that for Brad Hill. Years ago, the aspiring artist was gifted the popular children’s toy and, as a thank you, molded some of it into a head. “I was like, ‘Oh wait. That’s kind of fun,’” Hill said. “Every day, I’d just wake up and sculpt a head out of Play-Doh. And I thought, ‘Well, this isn’t sustainable.’” He was wrong. Fifteen years later, Hill’s work has gone all over the internet, and this week he’s having a retrospective art show featuring not just brand new work, but pieces from throughout his still blossoming career. [Read more]
Being a Manga Letterer Is More Than Having a Fun Job
By Isaiah Colbert
When people read manga, they often focus on the Instagram caption-worthy one-liners and larger-than-life illustrations that fill their pages. What usually goes unnoticed in picking up a manga is the work that goes into its lettering and graphic design, done by the folks who pour their craftsmanship into typesetting popular Japanese manga for Western audiences.
We spoke with professional letterers Brandon Bovia (The Guy She Was Interested in Wasn’t a Guy at All, Dragon Ball Super, Kaiju No. 8), Evan Hayden (Battle Angel Alita, Land of Lustrous, Akira), Sara Linsley (Kamudo), Aidan Clarke (Otaku Elf, Neo Faust, Les Miserable), Barri Shrager (Is It Wrong to Try to Pick Up Girls in a Dungeon?), Kyla Aiko (Dandadan, Gokurakugai, RuriDragon), and Finn K. (Shinobi Undercover, Dear Anemone) about the challenges of typesetting the best manga in the world. [Read more]
How the Grinch Stole Modern Christmas
By Sabina Graves
He’s a meme one, Mr. Grinch, or at least that’s the current pop culture identity of the iconic Dr. Seuss creation.
How the Grinch Stole Christmas, the beloved illustrated Seuss book that many of us first experienced as a story read to us as children, initially became a cultural phenomenon thanks to its timeless themes about how Christmas can be found not only in gifts but also in the hearts of all—even the grumpiest of green meanies. [Read more]
Right now, there is one name that’s completely dominating the headlines in media and entertainment. Naturally, I’m talking about Netflix(NASDAQ: NFLX). Netflix is currently in the midst of a heated acquisition bid against Paramount Skydance Corporation for Warner Bros. Discovery‘s (NASDAQ: WBD) film and television studios.
While the proposed deal is yet to cross the finish line, I see this transaction as a potentially transformative move in Netflix’s pursuit to evolve from a streaming pioneer into a full-blown media service.
Let’s explore why Warner Bros. is so valuable in the eyes of Netflix and what could be in store over the next several years should the deal come to fruition.
Image source: Netflix.
For years, Netflix primarily served as a distribution platform for other networks’ content. However, over the last several years, a number of media outlets have launched their own streaming services in an effort to compete more directly with Netflix.
While Netflix still offers a variety of licensed shows and movies in its library, the company has shifted its focus on developing original content. So far, this pivot has proved to be quite profitable for Netflix. Exclusive series including Stranger Things, Wednesday, Bridgerton, and The Queen’s Gambit were smash hits around the world.
The downside of creating original content is that it is both cost-intensive and time consuming. Moreover, a subtle risk is that even after opening up the pocketbook to bring on Hollywood’s best talent, there’s no guarantee the show or movie will be well received.
This is what makes Warner Bros. such a strategic asset for Netflix. Warner Bros. is home to beloved franchises, including DC Comics, Harry Potter, Looney Tunes, and HBO’s premium cable series which feature Game of Thrones, Succession, The Sopranos, and much more.
With Warner Bros. tucked into its catalogue, Netflix instantly gains prestige intellectual property (IP) that is treasured by people across all age and gender demographics.
Image source: Getty Images.
Acquiring Warner Bros. comes with more value than a deeper content library. The IP ecosystem that comes with Warner Bros. opens up new doors for Netflix in the world of theme parks, toys and merchandise, gaming, and more.
In the long run, Netflix could leverage all of the new brands and characters it acquires from Warner Bros. to continue fleshing out its budding advertising business and immersive experience segment, Netflix House.
Moreover, I think integrating Warner Bros. into Netflix’s existing platform provides the company a direct path to acquire more customers without overspending on sales and marketing.
In addition, the various assets that come with Warner Bros. allow Netflix to create new pricing tiers and subscription bundles. From there, I think it’s reasonable that Netflix could employ its pricing power and hike subscription costs for viewers with very little risk of substantial churn.
If Netflix is successful in its pursuit of acquiring Warner Bros., it is going to take quite some time before the deal looks accretive. Nevertheless, I think Netflix is on its way to transform its business model virtually on par with that of Disney over the next several years.
In the table below, I benchmarked Netflix against a cohort of other streaming, media, and entertainment businesses on a price-to-sales (P/S) basis. As the analysis shows, Netflix trades at the highest premium in this peer set. What’s even more telling is the disparity in valuation multiples between Netflix and other pure streamers like Roku or entertainment conglomerates like Disney.
The reason legacy media trades at such a discount is because their business models are increasingly vulnerable to linear TV decline and cyclical advertising dynamics. While entertainment businesses generally boast slightly higher multiples compared to legacy media, these companies rely heavily on live events with distribution caps.
Netflix, by contrast, has global distribution and recurring revenue — two drivers that fuel outsized demand. For this reason, the market views Netflix as more of a tech-enabled platform akin to a software-as-a-service (SaaS) business but with the cultural profile of Hollywood.
Although Netflix stock is pricey relative to its peers, I think the premium is warranted. Taking this one step further, the gap between Netflix’s valuation and that of Paramount is striking. To me, this could suggest that a marriage between Warner Bros. and Netflix is much more valuable than with Paramount Skydance.
Ultimately, I see Warner Bros. as a core pillar of Netflix’s plan to become a trillion-dollar company over the next five years as it becomes much more than a streaming specialist. For these reasons, I see Netflix stock as a compelling buy-and-hold opportunity for investors with a long-run time horizon.
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In a series of photos released late Wednesday by WBD, the Netflix co-CEOs practically announced “we are Greg and Ted and we are your future,” to paraphrase that killer quip from Bill & Ted’s Excellent Adventure. If not going full on Keanu Reeves and Alex Winter from the 1989 metalhead comedy, Sarandos and Peters did look a lot like guys about to get the keys to their new digs.
Getting some very touristy shots in with Zas in front of the WB water tower, between the sound stages and chatting with the troops, the near matching white kicks wearing executives’ appearance in Burbank had all the hallmarks of a big staged F.U. to WBD bid rivals David Ellison and Paramount.
Neither WBD nor Netflix had a comment about the Hump Day get together. However, the images did come with a caption of “today, Warner Bros. Discovery CEO David Zaslav welcomed Netflix Co-CEOs Ted Sarandos and Greg Peters to the historic Warner Bros. Studio lot in Burbank to meet with leaders across the company.”
In point of fact, Sarandos and Peters met around 400 members of WBD’s leadership (some of whom are going to be very very very well compensated if the deal between the iconic studio and the streamer goes through) in the lot’s Ross Theate. Hosted and, to some degree, MC’d by Zas, the co-CEO asked and took questions from the crowd. In the conversation, Sarandos and Peters offered assurances that they were interested in growing the business and had no interested in shuttering theatrical release — which WB has scheduled out until 2029 right now.
Really though it was a lot of optics for a corporate buddy movie that just over two months ago, Peters openly scoffed at and almost everyone in town thought was a de facto done deal for David Ellison and his second richest man on the planet and Donald Trump whisperer Larry Ellison.
Look at the smiles on their faces, look at the hope in their eyes …it’s just looking all wine, blue blazers and roses.
Of course, even with the WBD board’s latest no thanks to Paramount and recommendations to shareholders to say the same, David Ellison still wants his second studio. No matter that Zas and gang have thrown serious shade on the Ellisons’ backstop promises and money on the table, everyone expects David and his father are going throw more money at WBD to get it before the January 8, 2026 deadline they set.
While all that plays out, can we get some consensus here on if Greg Peters’ really is the Bill to Sarandos’ Ted? Asking for a friend…
(L-R) Keanu Reeves & Alex Winter at 1991’s Bill & Ted’s Bogus Journey Hollywood Premiere (Photo by Ron Galella/Ron Galella Collection via Getty Images)
Warner Bros. Discovery (WBD) just fired back at Paramount’s hostile takeover bid. The company encouraged its shareholders in a letter to reject the offer, arguing its deal with Netflix represents “superior” value for shareholders.
Netflix announced on December 5 its $72 billion agreement to acquire WBD’s entertainment studios after it splits from Discovery Global under the title Warner Bros. A few days later, Paramount issued a $77.9 billion tender offer, alleging its bid would deliver greater value to shareholders.
Some shareholders have already expressed a preference for Paramount’s offer, according to CNN. Now, WBD is doubling down in its opposition to the company.
“The PSKY offer provides inadequate values and imposes numerous, significant risks and costs on WBD,” WBD wrote in the letter. “The Board continues to unanimously recommend the Netflix merger, and that you reject the PSKY offer and not tender your shares.”
Paramount’s Financial Arrangement
WBD’s primary concern is whether Paramount represents good value, noting the company receives significant financial backing from the royal families of Saudi Arabia, Qatar, and Abu Dhabi, even as CEO David Ellison and his father, Oracle billionaire Larry, took over the company in August.
According to CNN, Paramount said it has “air tight financing” and that suggesting otherwise is “absurd.”
In response to Paramount’s claims that its bid has full backstop from the Ellison family, WBD said in the letter that “It does not, and never has,” and said Paramount has “consistently misled” WBD shareholders.
The Warner Bros streaming sibling revealed the news Monday about the streaming date, which comes a day before the pic premieres on the HBO linear channel. HBO Max will also stream an ASL version.
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The pic, a mash of crime and political action thriller and dark comedy, centers on DiCaprio’s washed-up revolutionary Bob, who exists in a state of stoned paranoia and survives off-grid with his spirited, self-reliant daughter Willa (Chase Infiniti). When his evil nemesis (Sean Penn) resurfaces after 16 years and Willa goes missing, Bob scrambles to find her, battling the consequences of his past.
Benicio Del Toro, Regina Hall and Teyana Taylor also star.
The pic, which opened September 26 and has surpassed $200 million at the global box office, has already been named Best Picture by the New York and Los Angeles critics groups and the National Board of Review and won the Best Feature honor at the Gotham Awards. It is up for 14 Critics Choice Awards and leads all films with nine nominations for the Golden Globes.
One Battle After Another is produced by Adam Somner, Sara Murphy and Anderson, with Will Weiske executive producing.
Whether or not Netflix’s $82.6 billion acquisition of Warner Bros. goes through, the deal encapsulates a fraught moment for Hollywood, as the entertainment business is increasingly overshadowed by tech giants.
On the latest episode of the Equity podcast, Kirsten Korosec and I discussed the deal’s implications, both for Netflix and the larger Hollywood ecosystem. Kirsten noted that it’s just the latest move bringing more consolidation to the media business, and she wondered whether it’s “too big a risk” for Netflix.
Meanwhile, I discussed a call with Netflix executives where Wall Street analysts also seemed to be struggling to wrap their heads around the deal. And then of course there’s Paramount’s competing hostile bid — whatever happens, Warner Bros.’ days as a standalone company seem to be numbered.
You can read an edited preview of our conversation below.
Kirsten: I remember when Netflix was just a little baby startup and I got their [DVDs] in the mail. Here they are, all grown up, bidding for a legacy company. Did that run through your head when you saw the news?
Anthony: Certainly symbolically, it’s this moment where the upstart has eaten Hollywood. There’ve been all these articles, even before this deal, saying, “Netflix is eating Hollywood, Netflix is transforming Hollywood.” Regardless of whether or not this deal ends up going through, Netflix will have transformed Hollywood, but this seems like the biggest — both symbolically but also substantively — one of the most dramatic things that can happen.
Then there are all these other questions about: Will Netflix get regulatory approval? Will Paramount’s hostile bid succeed?
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What jumped out to you is you were catching up on it, Kirsten?
Kirsten: Well, the first thing was I was like, can there be any more consolidation in this market? I mean, that was the big one for me, because if memory serves, Warner Bros. already went through like this consolidation with Discovery, right? So here we are again. There’s been so much consolidation that I have lost track of all of that.
But the second thought was what I immediately thought, what I kicked [off our discussion] with, which is really thinking about how Netflix [has grown], and there have been these dips in the road along its way, where the headlines have been about how it’s struggling, and will it remain relevant, and how can it do that? If they’re successful in the actual deal, [it would] potentially reflect [that] they have made it.
But then again, they have to execute on [running] an even bigger company than ever before. And so I guess my third thought on this is: Should they be buying this? Is this what it takes for them to expand? Is it a risk for them to take on so much? Why not just stay as they are? And I don’t know if you agree with me on that one. Is it too big of a risk?
Anthony: I can see how it makes sense for Netflix. It’s a way to take a [content] library that is already quite large, and they’ve obviously had some very successful TV shows — less so on the movie side — [but] potentially, they just become so much stronger on the content side.
[And] they’re suddenly now involved in all these other businesses, although the question is to what extent are they going to invest in things like the theatrical business, theme parks, making TV shows for other streaming services and networks, which are all businesses that Warner Bros is in, and Netflix says it will continue to support. But we’ll see to what extent that’s true.
So it seems like something that can really benefit Netflix in some ways, but, at the same time, it does seem like this is a huge risk. If you go and look at the analyst call that Netflix’s executives did after announcing the deal, you can see that the analysts are wrestling with it and wondering “Okay, I can see that this grows your business, but does it grow your business [so much that it’s] worth an $82 billion deal?”
And then of course, beyond the Netflix perspective, you have everybody else in Hollywood. There are all these maybe accurately hyperbolic headlines about: Is this the end of Hollywood? Is this the end of the movie theater business? All the unions are basically saying either, “This deal should be blocked” or “We’re very, very, very worried about this deal.” The theater owners are saying that
And so I think there’s A) Is this a good deal for Netflix? And B) is this a good deal for the entertainment business? I don’t have a good answer for either, [but] I think it’s more likely to be a good deal for Netflix than it is to be a good deal for the entertainment business.
Though again, part of what to keep in mind as people weigh those options or think about possible outcomes here, is that because of the way that Paramount has forced Warner Bros. to consider these acquisition offers, it seems unlikely that Warner Bros. is going to be able to continue as an independent company — which, if you’re not a fan of media consolidation, that is disappointing.
HBO Max has rolled out a limited-time, one-year subscription deal, offering a chance to stream HBO originals and Warner Bros. blockbusters at a lower cost. The platform has reduced pricing to $3 per month for one year, bringing the final cost down to $36 for the year. With many streaming services increasing their rates, this short-term offer lets you catch up on hit shows and new releases without committing to a full year. You can sign up via HBO Max’s website or, if you’re a Prime Video subscriber already, via that service as an add-on.
HBO Max has one of the best libraries of content in the streaming market, combining HBO’s acclaimed originals with Warner Bros. theatrical releases, Discovery content and live sports. The service now runs across three main plans. The Basic With Ads plan, the one included in this deal, allows streaming on two devices in full HD and costs $11 a month at full price. The Standard plan adds offline downloads, more live sports coverage and better device flexibility for $18.49 per month. The Premium plan increases quality to 4K with Dolby Atmos sound (where available), four simultaneous streams and up to 100 downloadable titles for $23 monthly.
HBO Max
This HBO Max Black Friday deal brings the monthly price of the ad-supported plan down to $3 for one year, instead of the usual $11.
While the feature differences matter, the real appeal of HBO Max is its library. Subscribers get access to the full catalog of HBO originals, including House of the Dragon, The White Lotus, The Last of Us and Euphoria, alongside recent Warner Bros. theatrical hits like Dune: Part Two and Barbie. The addition of Discovery content brings in reality favorites such as Fixer Upper: The Hotel and 90 Day Fiancé, while sports coverage through TNT and TBS channels includes NHL, NASCAR, college football and more.
It’s worth noting that live sports are still limited to certain tiers and regions and 4K availability varies by title. But compared with other premium services that have recently raised prices or limited simultaneous streams, HBO Max’s current setup offers strong flexibility across its plans.
If you’re considering which streaming platform gives the best range of new shows, live events and cinema releases, our guide to the best streaming services compares HBO Max with other major options. For now, this one-year subscription offer provides a straightforward way to explore HBO’s latest hits and a wide catalog of content at a lower upfront cost.
“Where is Greta?” Photo: Warner Bros./Everett Collection
Disney can have Baby Yoda; Warner Bros. has the OG little guys with big ears. Gremlins 3 is on the way, CEO and Road Runner enemy David Zaslav revealed on his November 6 earnings call. Steven Spielberg will return to the franchise as producer, per The Hollywood Reporter. Chris Columbus, who wrote the first Gremlins film, returns to produce and direct as well as co-write with Zach Lipovsky and Adam B. Stein, who directed 2025’s successful Final Destination reboot. Gr3mlins will be out in theaters on November 19, 2027.
Gremlins 2: The New Batch was released in 1990, 35 years ago. While the 1984 original was a massive hit — earning $212 million on just an $11 million budget — The New Batch is a cult-classic bomb. It cost more than the first, with a reported budget of $50 million, and was significantly less successful, earning just over $40 million, per Consequence of Sound. As such, the Gremlins have not been let out of their cage until now.
It’s not the first time a Gremlins reboot has been attempted, however. WB reportedly “fast tracked” a third film in the franchise back in 2015 — but it never happened. Columbus believed it would “impossible to revisit in a CGI environment.” “Those are edgy Muppets in a sense and you don’t want to lose that sense of anarchy that those gremlins had, because behind the scenes are 25 puppeteers making them come to life,” he said to Coming Soon in 2010. There is no confirmation yet on how the modern Gremlins will be created, but given Columbus’s involvement, there’s hope the film returns to puppeteers. How else can they re-create the beauty of Greta, the sexy-girl Gremlin introduced in the sequel? The people (namely Jade Thirlwall) demand more Greta.
After nearly a year of rumors that a script for a hypothetical third Gremlins movie was in the works, it’s now official: Gremlins 3 is happening, and it’s coming a bit sooner than you might expect.
During an investors call this morning, Warner Bros. Discovery president David Zaslav confirmed that Gremlins 3 has been added to the studio’s release schedule and is currently eyeing a November 19, 2027, release. No further plot details were revealed, but Steven Spielberg will return to executive produce the film, which will be helmed by Chris Columbus.
The Hollywood Reporter further reports that Final Destination: Bloodlines directors Zach Lipovsky and Adam B. Stein will work to write the script for Columbus, who of course has a long history with the franchise behind the camera, having written the original 1984 horror-comedy classic.
It’s been 35 years since the Gremlins have been on the big screen, with the follow-up sequel, The New Batch, directed by original director Joe Dante, leaning away from the first film’s more horror-focused roots and into the comedy, including plenty of pastiche and homage (and even drawing upon its predecessor for a gag or two). Time will tell just what shape Gremlins 3 will take, but with Columbus back behind the scenes in a major way, it wouldn’t be too surprising to expect something more similar to the original film, rather than its cult-classically-admired sequel.
We’ll find out more as we get closer to Gremlins 3‘s currently expected November 19, 2027 release date.
Just when we’d all gotten used to (and tired of) Warner Bros.’ merger with Discovery, we learned the company’s open to having another owner. The news of yet another potential merger has drawn a lot of negative reactions, and now the Writers Guild of America has its own take on the matter. Spoiler: they don’t like it.
In a joint statement from its east and west branches, the WGA said to combine Warner Bros. with any of the major studios would be “a disaster for writers, for consumers, and for competition. Merger after merger in the media industry has harmed workers, diminished competition and free speech, and wasted hundreds of billions of dollars better invested in organic growth.”
To date, Paramount is the studio most chomping at the bit to acquire Warner Bros. It was first hinted at back in 2023, and the desire’s only grown now that the Transformers studio has gone and merged with Skydance, whose owner David Ellison is the son of one Larry Ellison, head of Oracle and one of Donald Trump’s most powerful supporters. Back in September, reports indicated Ellison was making a play for all of WB, including its cable networks and movie studio.
Outside of Paramount, other potential candidates looking to nab Warner Bros. include streamers Amazon, Netflix and Apple. Whichever studio makes a real play to acquire it, the two WGA branches have vowed to “work with regulators to block the merger.”
Few extant movie studios have properties that go back as far or play as rich as Warner Bros. From Casablanca to The Departed,My Fair Lady to The Unforgiven, the movies put out by the 102-year-old Burbank company have reached into all corners of cinematic history. Many of the rival studios that those classics shared marquees with are long gone. Yet WB remains.
Not to mention, of course, of Harry Potter, Lord of the Rings, The Dark Knight and other box office-busting multi-film series that have populated movie theaters and our cinematic consciousness over the last three decades. Or TV series, from ER to The Big Bang Theory. Think of the all-time greats or just a longtime favorite, and chances are a whole bunch of WB movies and TV titles are on the list. As the late film historian Robert Osborne once said, “There was a time when you’d just look at a movie and think, ‘Oh, that’s a Warner Bros. film.’”
That’s why the news this week that the studio — along with other properties in the current WBD empire — is up for sale lands so uncomfortably. Warner Bros’ history is movie history, and the notion that such a history can be bought and sold like so many spare car parts can cause a deep eyeroll about how pop culture gets jammed into the unforgiving confines of M&A culture. Our cinematic legacy, up for grabs to the most monied investor.
Or should we say up for grabs again? Studio assets are swapped pretty regularly these days, but some end up at the flea market a little more than most. A sale of Warner Bros. to David Ellison’s Paramount or another bidder to come would mark WB’s sixth owner in 25 years. Not many entertainment studios can say they’ve been successively passed from a media company to a dialup power player, a media company again, a telecom megalith, a cable giant and a software scion. Yosemite Sam treated Bugs Bunny better.
Each acquisition has its logic, articulated with much force at the time of the announcement only to be of-course-it-failed snickered at when the sale inevitably unravels. AOL was supposed to bring great synergies between distribution and content; AT&T was meant to land entertainment right in the middle of the 2010’s wireless revolution (“super-charge our capabilities,” executives said at the time). We know how both of those turned out.
Discovery’s tie-up with Warner Bros. in 2021 was touted as a cure for all that, a way to give the company a media-savvy owner that it had lacked for much of the previous two decades. “Warner Bros. Discovery will aspire to be the most innovative, exciting and fun place to tell stories in the world….[combining] Warner Bros.’ fabled hundred year legacy of creative, authentic storytelling and taking bold risks to bring the most amazing stories to life with Discovery’s global brand that has always stood brightly for integrity, innovation and inspiration,” soon-to-be WBD CEO David Zaslav said at the time. That hasn’t worked out so well either.
And now the logic again. This time, it will be different. This time Warner Bros. will be in good hands.
In some ways a Paramount purchase really could be the best outcome among all those (not-very-great) outcomes. There’s a case to be made that David Ellison, who does not need money the way any of the other owners have needed money — and who clearly likes iconic big-screen movies, as evidenced by his backing of Top Gun and Mission: Impossible — would caretake the legacy in a manner few owners would. And unlike Discovery, Par-WB would be a merger of spiritual equals; the company of The Godfather is probably a better fit than the company of House Hunters.
Of course, Disney-20th Century Fox was also a marriage of equals, and the spirit of All About Eve and The Sound of Music does not exactly burn bright on South Buena Vista these days.
What does a WB sale mean for the actual properties? On one hand, very little. Who is cashing the checks every time The Unforgiven is streamed or a Dark Knight boxed-set sold matters little to the film fans devouring these classics. All that hand-switching doesn’t amount to much more than a hill of beans.
But on another level the change is really significant — in how the classic films are promoted on streaming, in how often they’re dusted off and rebooted, in how much the new films carry on their DNA. In whether, really, WB in the end remains a force in the zeitgeist or just one more forgotten studio brand on a large sad pile of them, excavated mainly by historians and film students. (Also, come after Turner Classic Movies and you’ll hear it from a lot of people.)
Warner Bros. could use a break. Modern Wall Street has killed just about everything cool that walks or crawled at one time or another. It would sure be nice if, this time, it wasn’t here to kill WB.
Warner Bros. Discovery, the owner of Warner Bros. movie studio, HBO, and CNN, just announced they are open to a sale. If sold, it would mark the largest media transaction since Disney acquired 21st Century Fox in 2019.
In a statement released Tuesday morning, Warner Bros. Discovery said it is considering a variety of deals, mentioning things like the spinoff of some assets or even the sale of the entire company in response to interest from various potential buyers.
This announcement is likely to set off a bidding war for one of Hollywood’s most influential companies. Whether it is a complete or partial sale, it would reshape the industry. This decision and stands to increase or greatly minimize could potentially minimize the number of major companies fighting for consolidation over Hollywood.
Prior to the announcement of being open to sales, Warner Bros said they were planning to split their streaming and studio business from their cable networks business. This is intended to separate the most promising parts of the company, such as HBO Max, from parts of the company with lower profit, like CNN.
The decision to divide the company proves to be a great call as they consider selling. Warner Bros. Discovery executives mentioned that they expect its streaming services to be the biggest draw for potential buyers, hoping to see offers from companies like Netflix and Apple, with some analysts saying that more companies are likely to jump in as a result of Paramount’s interest.
As of now, Paramount is a buyer to watch, as David Ellison, the chief executive, has been seeking out acquisitions left and right. Acquiring Warner Bros. Discovery would add another layer of influence, potentially making Paramount one of the most powerful companies in Hollywood.
Beyond Paramount, Comcast has expressed interest as well as Amazon, in purchasing either the entire company or distinct parts.
While Warner Bros. Discovery did not name any specific companies, they said in a statement, “While we aren’t going to get into the specifics of who has expressed interest, it is safe to assume it is multiple parties,” hinting that Paramount isn’t the only company with its eye on it.
An analyst at the Bank of America said in an interview that Warner Bros. Discovery has a value of roughly $50 billion and that “These are assets that can’t be duplicated.”
Warner Bros. Discovery has signaled that it may be open to a sale of its business just months after announcing plans to split into two companies.
In an announcement Tuesday, the entertainment giant said it had initiated a review of “strategic alternatives” in light of “unsolicited interest” it had received from “multiple parties” for both the entire company and Warner Bros specifically.
“Through this process, the Warner Bros. Discovery Board will evaluate a broad range of strategic options, which will include continuing to advance the Company’s planned separation to completion by mid-2026, a transaction for the entire company, or separate transactions for its Warner Bros. and/or Discovery Global businesses,” it said.
Warner Bros. in recent weeks rejected a bid from Paramount Skydance, according to Bloomberg News and other media outlets (Paramount Skydance owns CBS News).
Warner Bros.’ stock price jumped in early trading, rising nearly 10% to $20.12. The shares have climbed 91% this year, especially in recent weeks as speculation has grown on Wall Street that the company was in play.
The company’s market value on Tuesday hovered around $49 billion, and Wall Street analysts estimate that the price of any deal to buy Warner Bros. would likely top $60 billion.
In June, Warner Bros. announced that it planned to split into two companies by mid-2026, one focusing on streaming and films, and the other housing TV services/channels brands including CNN and TNT Sports. Warner Bros. CEO David Zaslav said Tuesday that the restructuring remains on track.
“We took the bold step of preparing to separate the Company into two distinct, leading media companies, Warner Bros. and Discovery Global, because we strongly believed this was the best path forward,” Zaslav said in a statement.
Still, he added, “it’s no surprise that the significant value of our portfolio is receiving increased recognition by others in the market.”
Yet another streaming platform is asking people to dig deeper into their wallets and pay more to keep using the service. Warner Bros. Discovery (WBD) has jacked up the prices of all HBO Max plans, 16 months after the last increase to the ad-free offerings.
The entry-level, ad-supported plan is now $11 per month (an extra $1) or $110 per year ($10 more). HBO Max Standard will run you an extra $1.50 per month at $18.49 or $15 per year at $185 for the annual plan. As for the HBO Max Premium option, subscribers will now have to pay $23 per month (up by $2) or $230 for an annual plan (an increase of $20).
The new prices kick in immediately for newcomers. Existing monthly subscribers will start paying more as of November 20 (whenever their next billing cycle starts on or after that date). Yearly subscribers will be notified about the price changes 30 days before their plan renews.
WBD CEO David Zaslav suggested in September that price increases were on the way, along with a stricter crackdown on password sharing. “The fact that this is quality — and that’s true across our company, motion picture, TV production and streaming quality — we all think that gives us a chance to raise prices,” Zaslav said. “We think we’re way underpriced.”
The company announced the price increases on the same day that Disney is making several Disney+ plans more expensive. As it happens, some of the Disney+ bundles that are going up in price include HBO Max.
News of the price hikes comes just as WBD sticks a For Sale sign out on its lawn. It was reported this month that the company turned down an acquisition offer from Paramount Skydance for being too low. WBD has now confirmed that “multiple parties” have expressed interest in buying some or all of the company, and that it’s now conducting “a review of strategic alternatives to maximize shareholder value.”
In June, WBD announced plans to split into two companies. As things stand, Warner Bros. will retain the namesake film, TV and game studios, as well as New Line Cinema, DC Studios, HBO and HBO Max. Discovery Global will have all of the other live cable channels, such as CNN, HGTV, Cartoon Network, Discovery and TLC (it will also be saddled with the lion’s share of WBD’s debt). That split is slated to take place by mid-2026, but WBD said on Tuesday it would consider other options.
“The Warner Bros. Discovery Board will evaluate a broad range of strategic options, which will include continuing to advance the company’s planned separation to completion by mid-2026, a transaction for the entire company or separate transactions for its Warner Bros. and/or Discovery Global businesses,” WBD said in a press release. “As part of the review, the company will also consider an alternative separation structure that would enable a merger of Warner Bros. and spin-off of Discovery Global to our shareholders.”
WBD hasn’t set a deadline or timetable for completing this review. But given the whole HBO Max naming debacle, it might take the board quite a while to make its mind up.
Mortal Kombat IIisn’t coming until next year, but that hasn’t stopped New Line Cinema for prepping for a third.
Per Deadline, the studio is already eyeing MKII writer and executive producer Jeremy Slater to come back and pen a followup. Sources told the outlet that WB is actually pretty high on the sequel, and Slater himself said during the film’s New York Comic Con panel that the studio was “so happy” with how it’s turned out. Just its first trailer from July a big deal, netting 107 million global views within a 24-hour period and set a new record for red band trailers.
Since Mortal Kombat II is months away, there’s no word on what the third’s story will be. But around the first reboot movie’s release, producer Greg Russo talked about using a hypothetical third film to cover the tournament’s aftermath. That general premise sounds similar to the 1995 Mortal Kombat 3 game, wherein Shao Kahn invaded Earthrealm to wreak havoc after his defeat in the previous entry.
After the success of the 2021 Kombat, Warner Bros. was reportedly looking to create more films in the universe, and it looks like they’re getting what they want—but only after Mortal Kombat II hits theaters on May 15, 2026.
If Hollywood has taught us anything, it’s that a blockbuster that makes bank will get a sequel (or seven). Enter A Minecraft Movie, with its surprisingly effective humor and $957 million box office payday. (Who had “Jack Black will anchor a nearly billion-dollar movie” on their 2025 bingo card?) So, it’s no surprise that Warner Bros. has officially greenlit a sequel.
Varietyreports that Warner Bros. has penciled in the sequel for a July 23, 2027, premiere date. That would place it around two years after the original, which is the second-highest-grossing film of the year so far. (Disney’s Lilo & Stitch is in first, with a cool $1.03 billion at the box office.)
The sequel will reportedly bring back director Jared Hess. The Napoleon Dynamite creator will also co-write the screenplay with Chris Galletta. Producers are said to include Mary Parent, Cale Boyter, Roy Lee, Eric McLeod, Kayleen Walters, Torfi Frans Ólafsson and Jason Momoa.
Engadget was among the many publications taken aback by how good A Minecraft Movie was. After all, a film about an open-ended building game, starring one of the leads of the crummy Borderlands, didn’t sound promising. But we found it surprisingly funny, with just the right degree of winking self-awareness. On top of that, Devindra Hardawar said it “delivers a decent message about championing creativity in a world that wants to beat down free-thinking non-conformists.” Amen to that.
Warner Bros Motion Picture chairs Michael De Luca and Pamela Abdy touted movies in theaters with De Luca saying he’d have a problem working for a movie studio that didn’t put its fare on the big screen — saying he’s thought about that a lot, and if that ever happened he’d probably focus on series.
But both will be at WB for he foreseeable future. At a Bloomberg Screentime conference in LA today the duo acknowledged their contract renewal announced Wednesday. They also weaved away from any criticism of their past rocky relationship with WBD CEO David Zaslav, who had been openly talking to other execs about running the film division back when the studio was having a rough patch.
With the relentless success over the past months starting with Minecraft (a sequel is coming), Ryan Coogler’s (“all heart”) Sinners, a Superman revival and the praise on One Battle, the duo are now sitting in the C-Suite drivers’ seat, and are a major asset for WB unto themselves
“We’re doing our part,” De Luca acknowledged on the growth in actual big screen output, with WBD now at pre-pandemic box office levels.
“There is no one size fits all. Abdy added, meaning both budgets, but clearly emphasizing their overall approach to their diverse slate.
Centering on One Battle After Another‘s long-term box office success, De Luca spotlighted the acclaimed Leonardo DiCaprio authoritarian ” masterpiece” from Paul Thomas Anderson as being a “marathon not a sprint.”
The two took the stage just after David Ellison, the new CEO of Paramount Skydance who is eyeing an acquisition of Warner Bros.
