Warner Bros Dominates Oscars Amid $110B Studio Merger With Paramount Skydance

Warner Bros made history at this year's Academy Awards, walking away as the night's biggest winner with 11 Oscars — even as news of its looming $110 billion acquisition by Paramount Skydance cast a bittersweet shadow over the celebration.

Leading the studio's triumphant night was "One Battle After Another," a gritty dystopian drama that claimed six awards, including Best Picture, Best Director, and Best Supporting Actor. Warner Bros' critically acclaimed "Sinners," a genre-blending story set during the Jim Crow era, added four more Oscars to the haul, including Best Actor for Michael B. Jordan. The rising star honored the studio for "betting on original ideas and artistry" during his acceptance speech.

The merger, which saw Paramount CEO David Ellison outbid Netflix in a competitive months-long acquisition battle — backed by Oracle co-founder Larry Ellison — signals a significant shift in Hollywood's studio landscape. The consolidation of two iconic entertainment brands is expected to generate $6 billion in cost savings, while Ellison has committed to producing 30 films annually across both studios. Recent Warner Bros box-office hits like "Superman" and "A Minecraft Movie" underscore the studio's commercial strength heading into this new chapter.

Industry veterans, however, are mourning the loss. "It will be impossible to ignore that we will be celebrating the achievements of filmmaking with one less studio on the horizon," said Hollywood marketing executive Terry Press, reflecting the widespread anxiety gripping the entertainment world.

Netflix also had a strong showing, earning seven Oscars, including wins for Guillermo del Toro's "Frankenstein" and the animated feature "KPop Demon Hunters." NBCUniversal's Focus Features claimed Best Actress for Jessie Buckley in "Hamnet," while A24's "Marty Supreme" went home empty-handed despite nine nominations. Disney and Apple each earned one award.