Two huge culture industry deals in the past week, both in entertainment, and maybe they don’t seem connected. Certainly not connected to non-profit arts. But these are exactly the kinds of culture infrastructure deals that should worry anyone in the commercial or non-profit culture business because they impact us all. Here’s why.
Paramount and Warner Bros. Discovery signed a merger agreement combining two of Hollywood’s storied studios into a single entity valued at more than $110 billion, carrying an astonishing $90 billion in debt, and controlled largely by one of the wealthiest families in the world.