The competition between Netflix and Paramount Skydance to acquire the studio is haunted by the ghosts of mergers past.

Netflix is trying to set up its future as an unbeatable Hollywood studio by buying Warner Bros., but Ted Sarandos is going to have to fight for it.

Hollywood has faced a difficult last few years, with the COVID-19 pandemic and the dual strikes. A merger between two major players could mean even more job cuts, experts said.