👉 Pitch in on Patreon and fuel the future of free-thinking conversations. https://www.patreon.com/parallaxviews Also visit our returning sponsor Mike Swanson's Wall Street Window for the best financial and trading newsletter around: https://wallstreetwindow.com/ PRODUCER'S CREDITS SECTION AT THE END OF THE SHOW HAS BEEN UPDATED! (Going to be better about updating it in the future as I'm now getting proper notifications for new $10 and above supporters!) On this edition of Parallax Views, J.G. Michael is joined by Nat Wilson Turner of Naked Capitalism for a wide-ranging discussion about the proposed Paramount-Warner Bros. Discovery merger, the future of Hollywood, the streaming wars, and the increasingly precarious economics of the American entertainment industry. With new questions surrounding the merger's antitrust settlement and financing, Turner breaks down why he believes the deal may be far more fragile than it appears. We discuss David Ellison's leadership of the combined company, the enormous debt involved, the role of Oracle and Gulf sovereign wealth funds in financing the deal, and whether Paramount can realistically compete with Netflix, Amazon, and Alphabet. What is the actual business case for combining Paramount and Warner Bros.? Is the real prize HBO Max and Warner's enormous library of intellectual property, including DC, Harry Potter, and Star Trek? And can those assets justify taking on even more debt in an industry already struggling with the collapse of the traditional studio model? We also examine the potential consequences for Hollywood workers, independent film, theatrical releases, television, cable networks, and film preservation. J.G. raises concerns about the future of the Warner Archive and the preservation of American film history, while Turner compares the current crisis in Hollywood to the upheaval that hit the record industry during the Napster era. The conversation also explores the collapse of traditional antitrust enforcement, the settlement involving California Attorney General Rob Bonta and other state attorneys general, and what the merger says about corporate power and elite accountability. Beyond Paramount and Warner Bros., Turner and Michael discuss the streaming wars, the rise of user-generated media, Netflix's expansion beyond streaming, the changing global cultural landscape, copyright law and the public domain, and why the legacy entertainment industry may be losing its cultural dominance. Plus: Power Slap, the economics and ethics of combat sports, and the case against endlessly extending copyright protection. Topics include: Paramount-Warner Bros. merger, Warner Bros. Discovery, David Ellison, Skydance, Paramount+, HBO Max, Netflix, Oracle, Hollywood, streaming wars, antitrust, corporate consolidation, film preservation, Warner Archive, independent film, copyright law, media consolidation, and the future of the entertainment industry.