Why the Netflix, Warner Bros. deal is a disaster for movie theatres, filmmakers and audiences

Moviegoing might have died Thursday night. Perhaps that sounds a tad dramatic, but sometimes you have to deploy the hyperbolic language of Hollywood, especially when describing an industry disaster that is existentially on par with the most explosive chaos ever put on the big screen.

The calamity stems from the news that Netflix is officially buying Warner Bros. Discovery for US$82.7-billion. While the mammoth acquisition is far from a done deal – there are genuine antitrust concerns at play, and Paramount Skydance, Netflix’s rival suitor for WBD up until a moment ago, could throw up all variety of legal challenges – the fact that the situation even got this far is a sign of the end times for Hollywood as we know it. Make no mistake: This is a devastating blow for movie theatres, filmmakers, television creators and, of course, audiences.