For those working behind the scenes, the merger of two historic studios has been described as a “disaster” by those on the ground.
Actors and writers not too long ago gathered at Paramount Studios in Los Angeles to oppose the deal, accusing regulators of failing to defend industry livelihoods.
Criminal Minds star Kirsten Vangsness informed the BBC she was “heartbroken”.
“It’s people that make this city,” she said. “It’s people that make entertainment, it’s the everyday creatives that this industry is built on – this is who it hurts.”
A report by consultancy CVL Economics for LA County estimated the merger could eradicate roughly 4,500 direct movie and TV jobs, while inflicting $1.26bn in lost wages over three years.
The blow could hit a area that has already lost roughly a third of its movie 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”.
She warned that Hollywood may become less of a “single location” and more of a “dispersed network.”
Although the settlement establishes a workforce fund to retrain displaced staff, attorneys notice it does not block job cuts.
“Nothing in the settlement limits layoffs,” attorney Gilliam added.
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