Is Paramount’s Latest Move at WBD Just an Old Vegas Strategy? Insights from Paul Anka
The motion picture industry has faced significant challenges, with one prominent figure asserting that “the film business as we knew it doesn’t exist” in California anymore. Veteran music artist Paul Anka expressed his concerns during a recent conversation, emphasizing the drastic changes within the industry. “It’s over,” he stated, citing an impending legal battle following a bidding war initiated by HBO for a new documentary. The involvement of powerful entities, including John Malone and notable figures like Ted Sarandos, has further complicated the matter, as Anka points out potential delays due to resistance from stakeholders like the Ellisons.
Anka highlighted a longstanding tactic among industry leaders, explaining, “Sometimes these guys do each other a favor; it’s an old Vegas trick.” This competitive strategy has led to suspicions about who may ultimately emerge as the victor in the bidding process. Despite speculation around Netflix’s Sarandos and HBO’s Zaslav, Anka believes Paramount may ultimately take the lead, given Netflix’s historical reluctance to acquire external properties.
He expressed broader concerns about the industry as a whole, indicating a shift that could see fewer distribution platforms for films. “We’ll be down to three places, maybe,” he remarked, referencing the increasing prominence of overseas film production hubs in cities like Atlanta and various locations in Canada. Anka lamented the diminishing film base in Hollywood, stating, “The Hollywood we grew up in, it’s over.”
