The Hostile Takeover of Warner Bros. and Its Implications for Writers

Hang out with Sandy as she discusses the joint statement from WGA East and West about the acquisition of Warner Bros. Discovery by Netflix and the hostile takeover by Paramount. Plus, an update on Carl Rinch, the writer/director who embezzled $11 million from Netflix. Carl Rinch’s trial just wrapped up last week. We also share an inspiring story about resilience involving Meryl Streep and Dino De Laurentiis.  

Executive Producer Kristin Overn
Executive Producer and Host Sandy Adomaitis
Producer Terry Sampson
Music by Ethan Stoller

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https://novelium.so

Transcript

0:11

Hello, my name is Sandy Adamidis, the social media director for the Page International Screenwriting Awards and your host for the Writers Hangout, a podcast that celebrates the many From inspiration to the first draft, revising, getting the project made, and everything in between. We'll talk to the best and the brightest in the entertainment industry, and create a space where you can hang out, learn from the pros, and have fun. Hey, RURs, it's Sandy. I'm coming to you from Studio City, the crown jewel of the San Fernando Valley, and I have a fun episode for you this week, some Hollywood news and update and an inspirational story to share. First up, I'll fill you in on the latest battle everyone in Hollywood is talking about the hostile takeover of Warner Brothers. Discovery by Paramount, the WGA released a statement on the situation, and I think you'll find it interesting. Writers, why should you care about this story? Then I'll report on Carl Wrench, the writer director who embezzled$11 million from Netflix, W'S trial just wrapped up last week and I'll also share a short story about resilience involving Meryl Streep and Dino d Laurenti, Before we get started, I wanna give a shout out to Dopa Pets on Etsy who made my cat Sophie Joe's Christmas collar. I love it and I highly recommend you. Check out Do Peppes on Etsy. This isn't a paid ad. They have cute stuff and great customer service, so just go check'em out. Now, the hostile takeover of Warner Brothers Discovery. What is going on? We first have to take a step back to 2022. That's when there was a merger between AT&T's Warner Media and Discovery Inc. which made Warner Bros not only a studio, but a massive global media entertainment company. Now December, 2025, just days after Netflix struck a deal to purchase, a large part of Warner Bro's. Discovery Paramount launched a hostile takeover bid to acquire Warner Bros. Discovery. You know, I'm just gonna say Warner Bros. Because I, the discovery part, I can't. I just can't Writers, why should you care about this story? Well, the Writer's Guild of America West and the Writer's Guild of America East, Released a statement and I thought you guys would like to hear it. This is the statement, The world's largest streaming company. Swallowing one of its biggest competitors is what antitrust laws were designed to prevent The outcome would eliminate jobs, push down wages, worsen conditions for all entertainment workers, raise prices for consumers, and reduce the volume and diversity of content for all viewers. Industry workers along with the public are already impacted by only a few powerful companies maintaining tight control over what consumers can watch on television, on streaming, and in theaters. This merger must be blocked. So that's the statement. And why is this a hostile takeover? Okay. Paramount plans to appeal to Warner Brother Shareholders and overcome management's wishes of going with Netflix. How can they do that? You might ask, perhaps Paramount has a plan, how to save the movie industry, how to help, upcoming writers get a foothold into the business. No. It all comes down to following the money. You see the Netflix agreement to buy Warner Brothers. offered shareholders$27 and 75 cents per share, while Paramount offered shareholders,$30 per share, follow the money. And of course it's all much more complicated. But again, What do you think writers, what do you think of the merger? What do you think of the statement, the WGA has put out, Do you agree with them? Let me know at the Writers Hangout podcast@gmail.com. You know what kind of makes me sad? Just Warner Brothers being sold in general. Warner Brothers is my favorite lot. I would walk all the stages and read the plaques that would just list all the movies and television shows that were shot there. Warner Brothers just feels old Hollywood to me. When I worked on Terminator, the Sir Con Chronicles, we were on the Warner Brothers lot, Hadley Klein Char and I bought the cheapest bikes we could find online and um. The writers of mom who were next to us had these really cool gifted bikes, and they kind of would bake foot of us, but we loved riding around the lot. And Hadley, if you're listening, I haven't forgotten that You took my bike to set one night and left it there. I'm just saying. Again, writers. Let me know what you think about all of this consolidation. now back in April of 2024, I did an episode titled How the Wrench Stole 55 million from Netflix using Kind hearted Keanu Reeves. It was a fascinating story, and I highly recommend you go back and listen and I now have an update on that story. To review writer director Carl Wrench embezzled 11 million from Netflix by diverting funds. Met for a sci-fi series he wrote, produced and directed for Netflix into his personal accounts. Oops. He used the money For investments, luxury vehicles including five Rolls Royces and one Ferrari cryptocurrencies two oh, I'm not sure how I'm gonna pronounce this correctly. Hastens, Mattresses costing around$638,000 total and 480 food takeout orders within six months. Oh, wait a minute. Is the four 80 food takeout orders in six months. Successes. Okay, whatever. Now he didn't buy a house, which I find interesting. Or it just shows that even if you steal 11 million, it's still hard to afford to buy in LA. I laugh, but I also cry on that one. Well, as we know, wrench was arrested And just last week he was found guilty of wire fraud and money laundering. He faces up to 90 years behind bars, but I don't know, I think he'll get less. Remember kids crime doesn't pay Writers, I want to talk about one of the most challenging aspects of writing managing everything yourself, including keeping track of every detail in your novel and screenplay. I always remember this quote from Stephen King, you think you might have misspelled a word. Okay, so here's your choice. Either look it up in the dictionary thereby making sure you have it right and breaking your train of thought and the writer's trance in the bargain. Or just spell it phonetically and correct it later when you sit down to write, write. Don't do anything else. Now, I always wanted to be that kind of writer, always pushing forward, but hard as I try. I, I'm just not, if I can't remember something about my story, I go back and I look for it and just like Stephen King says, it breaks my concentration. If time passes and I haven't written, or I'm deep into the story, I forget about timelines, character names, and backstories. Then there I go again, rereading what I wrote, and I find myself fighting to get back into the story. so when I learned about our new sponsor, Noum, I knew I wanted Noum on my laptop right away. Novem, spelled N-O-V-E-L-I-U-M is like having an editor at your side when you write, because Novem tracks every character detail. Every timeline, event, and every plot thread across your whole manuscript. Before I go any further, I want you to know no Valium never writes for you. Never suggests plot changes, never trains on your work and never touches your voice. I but this is what it can do. One, read and analyze your manuscript and or screenplay. Then it finds timeline, conflicts, and character inconsistencies. Number two catches what you missed. Like a detailed obsessed editor who remembers everything. Three tracks your universe, every character, detail, timeline, event, and plot thread you've created. Number four answers, questions about your story. For example, what meds was Lieutenant General Hicks taking during his court martial noum? We'll give you instant, accurate answers Noum was created by real authors not by tech workers who aren't writers. Try noum today and get your first month free. That is so cool. And please use Code Hangout. That's no NOE again. NE. Um, so, and please use Code Hangout back to the show. Now. I wanna share a story, which involves Meryl Streep and the producer, Dino d Laurenti, writers. Back in the day, Dina was the man. He was a legendary film producer in both Italy and Hollywood. and produced over 500 films including classics like Lara Serco, blue Velvet, and Blockbusters Like Conan the Barbarian, Earning an Oscar and the Alberg Award, despite a career marked by both huge hits and spectacular flops. I see you 1980 four's. Dune. Sorry, David. Okay. Meryl story, wouldn't it be great if I just pulled out a great Meryl Streep imitation? Uh, but sadly, the only Meryl Streep voice I can do is a Dingo Mabe, and that is Julia Louis Dreyfus playing Elaine from Seinfeld with a little Britney Spears. On the baby. On the baby. I didn't, I don't want to do that, but. Kind of comes out. Anyways, I'll set the scene. It's 1975. Meryl Streep is young and in Hollywood, and she has an audition for King Kong with Dino d Laurenti, Streep remembers he looked at me, then he turned to his son and he said in Italian. Why did you bring me this ugly thing? I understood every word, and that moment felt like a punch straight to the stomach. I had just arrived in Hollywood full of hope, and one of the most influential producers, Dino d Laurenti, decided I wasn't worthy of the big screen. Not beautiful enough, not good enough, and for a second I almost believed him. Those cruel words nearly made me walk out, abandon the room, and abandon my dream. I thought If the most powerful man here thinks this of me, who am I to disagree? But instead of breaking down or running away, I looked him in the eye and I answered back in perfect Italian. Sorry to disappoint you. I took that humiliation, and I turned it into fuel. Today I have more than 20 Oscar nominations. Beauty fades. persistence and talent. Do not, never let a small man's opinion define the size of your dream. what someone else calls a flaw may become the mark that makes you unforgettable. Meryl Streep writers, I hope this story help you when you face rejection. Don't let the small people drag you down. And that's a wrap for the Writer's Hangout. Thanks so much for listening. If you enjoyed the show, please take a moment to leave us a review on Apple Podcasts. Your positive feedback will help us keep the show going so we can continue bringing you more future episodes. Remember, keep writing. The world needs your stories. The Writers Hangout is sponsored by the Page International Screenwriting Awards, with executive producer Kristen Overn, producer Sandy Adamides, and myself, Terry Sampson. And our music is composed by Ethan Stoller.