In December last year, when we first heard rumours of Netflix acquiring Warner Bros, the thinkpieces came thick and fast. People said this was the final nail in the coffin for theatrical films, the moment algorithms would officially replace auteurs, and boardrooms would decide not just what gets made, but what kind of stories are even worth telling. A streaming giant swallowing one of Hollywood’s oldest studios seemed to confirm everyone’s worst fears, that cinema would finally become content, IP would matter more than ideas, and risk, originality, and the mid-budget film would be the first casualties.

Closer at home, Universal Music India (UMI) just acquired a 30 per cent stake in Farhan Akhtar and Ritesh Sidhwani’s production house, Excel Entertainment. This comes after Saregama Music invested in Bhansali Productions in December last year, and vaccine billionaire Adar Poonawalla acquired a 50 per cent stake in Dharma Productions in 2024. When corporate deals that haven’t even gone through in the West cause such a stir, is there any panic of a corporate takeover of the movies at home?