
From films to streaming prices - how the Warner Bros deal could affect you
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Paramount and Warner Bros are coming together to form Skydance It has been months in the making but Paramount Skydance has finally completed its $110bn (£82.8bn) merger with Warner Bros Discovery.
派拉蒙和华纳兄弟将共同组成天空之舞 它已经酝酿了几个月,但派拉蒙Skydance终于完成了与华纳兄弟发现公司(Warner Bros Discovery)的1100亿美元(828亿英镑)合并。
The deal welds two legacy Hollywood powerhouses, uniting franchises like Harry Potter and Game of Thrones, into an entertainment behemoth named Skydance.
这笔交易将两个传统的好莱坞强国联合起来,将哈利波特和权力的游戏等特许经营权联合起来,成为一个名为Skydance的娱乐巨头。
Yet behind this milestone lies strict rules about what the combined business can and cannot do - from how many films it must produce a year to the editorial independence of its newsroom.
然而,在这一里程碑的背后,有严格的规定,规定合并后的企业能做什么和不能做什么--从一年必须制作多少部电影到新闻编辑室的编辑独立性。
Here are four ways this could affect you and the movies, TV and news you watch.
以下是这可能影响你和你观看的电影、电视和新闻的四种方式。
HBO Max is the company behind Euphoria, a series starring Zendaya Warner Bros owns HBO Max, home to The Sopranos, House of the Dragon and Euphoria among others.
HBO Max是由Zendaya主演的系列剧Euphoria背后的公司 华纳兄弟拥有HBO Max,黑道家族,龙之家和Euphoria等。
Meanwhile, Paramount Skydance has Paramount+, which streams the likes of Yellowstone, Parks and Recreation and NCIS.
与此同时,派拉蒙天舞拥有Paramount+频道,播放《黄石公园》、《公园与游憩》和《海军罪案调查处》等节目。
Combining HBO Max and Paramount+ into a single platform or bundle will likely squeeze subscribers' wallets over time. While existing subscribers to both might enjoy short-term savings, analysts expect overall prices to rise as the combined giant seeks profitability.
将HBO Max和Paramount+合并到一个平台或捆绑包中,长期来看可能会压缩订阅者的钱包。 虽然现有两者的用户可能享受短期节省,但分析师预计随着这家合并巨头寻求盈利,整体价格将上涨。
The merged company, Skydance, carries a massive $80bn in debt from the deal, even as executives target $6bn in annual cost savings.
合并后的公司Skydance背负着这笔交易带来的800亿美元巨额债务,尽管高管们的目标是每年节省60亿美元的成本。
Analysts warn that consumers will ultimately bear the financial burden of the $110bn deal.
分析人士警告说,消费者最终将承担这笔1100亿美元交易带来的财务负担。
Mike Proulx, research director at Forrester, noted that with streaming services constantly raising fees to increase profitability and Skydance saddled with massive debt, price increases are likely to come.
Forrester研究总监Mike Proulx指出,随着流媒体服务不断提高费用以提升盈利能力,而Skydance背负巨额债务,价格上涨很可能会到来。
While viewers will gain access to a broader catalog, as Skydance shifts toward a Paramount+ and HBO Max bundle rather than a single app, Proulx warns that "it's far-fetched to think it'll prevent downstream price hikes".
随着Skydance转向Paramount+和HBO Max捆绑包而非单一应用,观众将能接触到更广泛的目录,但Proulx警告说,"认为它能阻止后续价格上涨是牵强的"。
As part of a settlement deal with US states who had objected to the merger, Paramount Skydance has agreed to release a set number of films every year for the next five years.
作为与反对合并的美国各州达成和解协议的一部分,派拉蒙天舞同意在未来五年内每年发行固定数量的电影。
For the first two years, that's 30 movies annually, and for the remaining period it has to release 32 films each year.
前两年每年要上映30部电影,剩下的时间每年要上映32部电影。
That's 156 movies in total - and the majority have to be "wide releases," meaning they must to be shown in cinemas.
总共156部电影——而且大多数必须是"广泛上映",也就是说必须在影院放映。
The merged studio must also release at least four independent films each year.
合并后的制片厂每年还必须至少发行四部独立电影。
If Skydance misses its movie quota, it could be forced to sell its 49% stake in Miramax – the studio co-founded by disgraced Hollywood mogul Harvey Weinstein.
如果Skydance未能完成电影配额,可能会被迫出售其在米拉麦克斯的49%股份——该制片厂由声名狼藉的好莱坞大亨哈维·温斯坦共同创立。
Breanne Gilliam, a corporate lawyer at Maddin Hauser, said the film commitment is meaningful, even if it comes with an expiration date.
Maddin Hauser的企业律师布里安·吉列姆表示,电影承诺意义重大,尽管有截止日期。
"Once those obligations expire, the company will have far more flexibility," she said.
"一旦这些义务到期,公司将拥有更大的灵活性,"她说。
"Temporary rules cannot permanently fix a structural market shift".
"临时规则无法永久解决结构性市场转变。"
Once the five-year deal ends, Skydance could follow rivals like Disney and Netflix by prioritizing streaming over cinema.
五年合约结束后,Skydance可能会像迪士尼和Netflix这样的竞争对手,优先考虑流媒体而非影院。
As Disney's $71bn buyout of 21st Century Fox in 2019 proved, mega-deals can lead to fewer films in cinemas.
正如迪士尼2019年以710亿美元收购21世纪福克斯所证明的那样,巨额交易可能导致影院上映的电影数量减少。
Before the acquisition, 20th Century Fox routinely released 12 to 17 movies annually in theatres, but under Disney that slate scaled down to just three to six a year.
在收购之前,二十世纪福克斯每年通常在影院上映12到17部电影,但在迪士尼手下,这一片单减少到每年只有三到六部。
Members of the film and TV industry protested outside Paramount Studios in LA For those working behind the scenes, the merger of two historic studios has been described as a "disaster" by those on the ground.
影视行业成员在洛杉矶派拉蒙影城外抗议 对于幕后工作人员来说,两家历史悠久的制片厂合并被现场人士形容为一场"灾难"。
Actors and writers recently gathered at Paramount Studios in Los Angeles to oppose the deal, accusing regulators of failing to protect industry livelihoods.
演员和编剧们最近聚集在洛杉矶派拉蒙影业,反对该协议,指责监管机构未能保护行业生计。
Criminal Minds star Kirsten Vangsness told the BBC she was "heartbroken".
《犯罪心理》明星柯尔斯滕·范斯内斯告诉BBC,她感到"心碎"。
"It's people that make this city," she said.
"是人造就了这座城市,"她说。
"It's people that make entertainment, it's the everyday creatives that this industry is built on - this is who it hurts."
"是人创造娱乐,是这个行业建立在日常创意基础上的——这就是它伤害的人。"
A report by consultancy CVL Economics for LA County estimated the merger could eliminate roughly 4,500 direct film and TV jobs, while causing $1.26bn in lost wages over three years.
洛杉矶县咨询公司CVL Economics的一份报告估计,合并可能导致约4500个直接电影和电视工作岗位消失,三年内导致12.6亿美元工资损失。
The blow could hit a region that has already lost roughly a third of its film and TV workforce, about 50,000 jobs, since 2022. Syleecia Thompson, a business professor at National University, said that "it hits small businesses, vendors, caterers and local communities".
这一打击可能影响一个自2022年以来已失去约三分之一电影和电视劳动力、约5万个工作岗位的地区。 国立大学的商业教授西莉西亚·汤普森表示,"这影响了小企业、供应商、餐饮服务和当地社区"。
She warned that Hollywood may become less of a "single location" and more of a "dispersed network."
她警告说,好莱坞可能会变得不再是一个"单一地点",而是一个"分散的网络"。
Although the settlement establishes a workforce fund to retrain displaced workers, lawyers note it does not block job cuts.
尽管和解协议设立了劳动力基金以再培训被取代的工人,但律师指出,这并未阻止裁员。
"Nothing in the settlement limits layoffs," attorney Gilliam added.
律师吉利亚姆补充道:"和解协议中没有限制裁员。"
CNN White House correspondent Betsy Klein reports from outside the building To address concerns over journalistic independence at CNN and CBS, the settlement creates a news editorial independence board that will be appointed directly by Paramount.
CNN白宫记者贝齐·克莱因从大楼外报道 为了解决CNN和CBS新闻独立性的担忧,和解协议设立了一个由派拉蒙直接任命的新闻编辑独立委员会。
The $110bn deal brings two major US television news operations under a single corporate roof.
这笔价值1100亿美元的交易将两家美国主要电视新闻部门汇聚在同一企业旗下。
Before the deal, Paramount owned CBS News, and Warner Bros. owned CNN.
在交易之前,派拉蒙拥有CBS新闻,华纳兄弟拥有CNN。
Both networks have faced intense political pressure - CNN was one of a handful of news organisations banned from the White House by President Donald Trump - as well as leadership shifts amid broader industry consolidation.
这两个网络都面临着巨大的政治压力——CNN是少数被特朗普总统禁止进入白宫的新闻机构之一——以及行业整体整合带来的领导层变动。
Paramount chief executive David Ellison has asked CNN boss Mark Thompson - the former director general of the BBC - to remain at the helm after the takeover closes.
派拉蒙首席执行官大卫·埃里森已请求CNN负责人、前BBC总裁马克·汤普森在收购完成后继续担任领导人。
CBS News's editor-in-chief Bari Weiss will remain in her role. Yet as Paramount targets billions in cost cuts across the merged company, staff fear the consolidation will trigger significant job losses at CNN and CBS.
CBS新闻总编辑巴里·韦斯将继续担任该职务。 然而,由于派拉蒙的目标是在合并后的公司削减数十亿美元的成本,员工担心合并将导致CNN和CBS的大量失业。
Beyond potential workforce reductions, media advocates and legal experts remain deeply skeptical about whether it can ensure newsroom freedom.
除了可能的裁员外,媒体倡导者和法律专家对其能否确保新闻编辑室的自由仍持深深怀疑态度。
Seth Stern, chief of advocacy at Freedom of the Press Foundation, described the Paramount-appointed board as "worthless". "The board creates the same First Amendment problems it claims to solve, the government meddling in news," Stern said.
新闻自由基金会倡导主任塞斯斯特恩(Seth Stern)将派拉蒙任命的董事会描述为"毫无价值"。 斯特恩说:"董事会创造了它声称要解决的第一修正案问题,政府干预新闻。"
Gilliam agrees paper promises mean little without real authority.
Gilliam同意,如果没有真正的权威,纸上的承诺就毫无意义。
"An oversight board only has as much power as the agreement gives it.
"监督委员会的权力只有协议赋予它的权力。
Oversight without authority is just observation," she said.
没有权威的监督只是观察,"她说。
Are you affected by issues covered in this story?
你会受到本报道中涉及的问题的影响吗?
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分享你的经验。 您也可以通过此链接与您联系
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