Too Much TV: The Time To Oppose The Sale Of Warner Brothers Was In 2022

Here’s everything you need to know about the world of television for Thursday, February 5th, 2026:

WHEN IT COMES TO WHAT IS BEST FOR HOLLYWOOD, DON'T LISTEN TO HOLLYWOOD
In April, 2022, Discovery, Inc. and AT&T Inc. announced that they have closed their transaction to combine the WarnerMedia business with Discovery, creating the new Warner Bros. Discovery, headed up by then Discovery CEO David Zaslav. 

And while there some concerns at the time expressed by prominent Hollywood insiders, the general conventional wisdom was one of relief. Almost without exception, Hollywood insiders saw the merger as the opportunity to rid Warner Media of its loathed CEO Jason Kilar, who was the architect of the infamous "Project Popcorn." That was the controversial decision that sent all of its 2021 films directly to streamer HBO Max on the same day that they hit theaters — including hotly anticipated titles like Denis Villeneuve's Dune and action sequel Godzilla vs. Kong." Lost in the outrage was that the decision was made during a period during which movie theaters were struggling to reopen after COVID. And the move drastically boosted the subscription base of HBO MAX, which Kilar argued was the key to the future.

But Hollywood conventional wisdom framed Kilar as "anti-talent," with several prominent filmmakers threatening to take their next projects elsewhere. So the sale of Warner Brothers was seen as an opportunity to "save" the studio from someone who didn't understand the business. And as the merger with Discovery moved forward, David Zaslav said and did all the right things to reassure the movie industry. He talked to people about the industry, discussed the importance of the theatrical business and was the beneficiary of several "David Zaslav is creator-friendly" profiles in major publications. So the Hollywood consensus settled into "well, it's a shame Warner Brothers has to be sold again, but this Zaslav guy understands talent. And on paper, Warner Brothers and Discovery are a compatible fit."

And weirdly enough, the fact that Zaslav seemed to relish the idea of a being the head of a movie studio reassured insiders. The theory being that anyone who derives that much self-worth from the idea of being a Hollywood mogul won’t screw up the gig.

But even before the merger closed, Zaslav and John Malone, a major Discovery investor and financial advisor to Zazlav, had openly discussed their ultimate goal. To either acquire another studio or ultimately sell off Warner Bros. Discovery. Every decision the company made - from drastically cutting costs in order to pay down debt to the way executive bonuses were structured - was based on the premise the company would either go through another merger or be sold. At one point, WBD executives floated the idea of acquiring Paramount Global. But that idea was discarded once David Ellison entered the bidding for Paramount.

So it is ironic to now read the endless string of think pieces from industry journalists bemoaning the fact that Warner Brothers has to be sold at all. It's true that WBD could survive on its own just fine. But it's not on its own. Its future is controlled by institutional investors and executives who have prepared for this moment for four years. Zazlav personally will walk away with as much as $500 million dollars from the sale, and other investors and C-suite executives will take away their own large paydays.

Arguing in 2026 that Warner Brothers should be independent is a bit like complaining that TV shows should never be binge released. You may or may not be right in the theoretical sense. But that ship - as they say - has sailed over the horizon.

And when you look at the two possible futures for WBD - being acquired by Paramount Skydance or Netflix - it feels as if there is only one viable option for Hollywood.

Yes, there is a lot of industry distrust of Netflix executives such as co-CEO Ted Sarandos, who have talked smack about the theatrical business in the past. But that is what you do when you are aggressively competing against an intrenched industry. But as anyone who has ever had business dealings with Netflix will tell you, they don't leave money on the table if they can help it. Acquiring Warner Bros. Studio and streaming - along with the famed Warner Brothers production facilities - is a once in a generation opportunity. And while no one knows for sure what the theatrical output or theatrical window for Warner Brothers films will be in 3-4 years, what we do know is that the studio will exist under its own name, working out of its own studio complex.

And none of that seems likely under Paramount Skydance ownership. Paramount CEO David Ellison has said that he can see the Warner Brothers theatrical output "eventually" matching what it releases today, that word "eventually" is doing a lot of work. A combined Paramount Skydance/WBD will be saddled with a massive debt and Ellison has already said substantial "right-sizing" will be necessary. Among other things, it's likely Warner Brothers studios will be sold off and much of the current WBD production collapsed into Paramount's existing business.

Four years ago, Hollywood conventional wisdom allowed its hatred of Jason Kilar to blind it to the dangers of selling Warner Brothers to Discovery. I would urge it not to let its distaste of Netflix to cloud its mind again in 2026.

ODDS AND SODS
* The comedic crime drama Sunny Nights, starring Will Forte and D’Arcy Carden, premieres Wednesday, March 11th on Hulu. Here is the official logline: "Sunny Nights features Will Forte as strait-laced American Martin Marvin, who teams up with his loose cannon sister, Vicki, played by D’Arcy Carden, to set up a spray tan business in Sydney. But as Martin and Vicki attempt to turn their company from a start-up operating out of the back of a van into a multi-million-dollar empire, the siblings become tangled up in Sydney’s criminal underworld, and when a ruthless gangster begins to catch up with them, the two must figure out how to stay alive, out of prison, and in the black."

* NBC has pulled Brilliant Minds from the primetime schedule for now, with six unaired episodes left in its second season. 

* The comedy Rooster premieres Sunday, March 8th on HBO. The series is a comedy set on a college campus centering on an author’s (Steve Carell) complicated relationship with his daughter (Charly Clive).

* The new series The Real Housewives Of Rhode Island premieres Thursday, April 2nd on Bravo.

* Martha Graham Dance Company: We Are Our Time premieres Friday, March 27th on PBS. Here is the official logline: "Graham’s singular vision revolutionized dance. Often listed alongside artistic forces such as Picasso and Stravinsky, she upended classical tradition with a striking vocabulary of movement that favored emotional truth over beauty. “I was a heretic,” Graham wrote, “I showed on stage what most people came to the theater to avoid.” With one of the first racially integrated companies, dances that explore the female psyche, and works of political protest, Graham challenged mid-20th century audiences. She believed dance should be vital, not decorative, describing it as “an arrow pointing to life at an instant.”

Through stunning dance sequences, verité storytelling, and interviews with dancers across generations – those who studied with Graham and those who’ve followed – the series reveals the devotion and sacrifice of a dancer’s world. Graham interrogated the American identity, relentlessly questioning what it means to create “American” art."

I am looking forward to this one.

* The Miniature Wife premieres Thursday, April 9th on Peacock.  Matthew Macfadyen and Elizabeth Banks star as Les and Lindy, a couple trying to keep their marriage together. The wrinkle is that Les has accidentally shrunk Lindy to six inches high. So it's a bit like Honey, I Shrunk My Wife?

DISNEY'S INTERNATIONAL CHALLENGES
While all of the attention this week about Disney has been focused on the change in top executives, The Ankler's Manori Ravindran has a nuanced, in-depth look at one of Disney's biggest challenges moving forward: the international markets:

When I ask one top British drama producer what it’s like working with Disney out of the U.K., his eyes begin to wander before he mutters, “It’s been complicated.” This production company has made some of the country’s most successful global-facing dramas, but a Disney+ commission has so far proved elusive. 

“I just find it very hard to read,” the producer continues. “Disney is a company that’s been very smart about maintaining a global brand, but presenting that brand locally in a way that really appeals well to the markets that they’re in — that’s taken them a while to get going in Europe, in film and television.”

And even when they have a great global show (and there have been quite a few of them), they don't do a great job promoting them in the United States. Hulu has the potential to be a solid international TV discovery engine for their international shows. But more often than not, they are just dropped on Hulu with minimal notice or promotion.

TWEET OF THE DAY


WHAT'S COMING TODAY AND TOMORROW

THURSDAY, FEBRUARY 5TH:
* Black Heat (ALLBLK)
* Cash Queens Series Premiere (Netflix)
* Grace Season Five Premiere (Britbox)
* Field Generals: History Of The Black Quarterback (Peacock)
* The Lincoln Lawyer Season Four Premiere (Netflix)
* Unfamiliar Series Premiere (Netflix)

FRIDAY, FEBRUARY 6TH:
* Queen Of Chess (Netflix)
* Salvador Series Premiere (Netflix) 
* Sense & Sensibility (BritBox)
* Spartacus: House Of Ashur Season One Finale (Starz)
* 2026 Winter Olympics Opening Ceremony (NBC)
* Yoh! Bestie (Netflix)

SEE YOU FRIDAY!