The surprise news Thursday that Netflix was ending its pursuit of Warner Bros. caught nearly everyone in Hollywood off guard, including staffers inside Warner Bros., Paramount and Netflix.

The reaction, of course, varied, depending on which side of the Hollywood Hills you sat, what division you’re a part of and even your political persuasion.

Veteran Producer Jerry Bruckheimer, nominated for producing Apple’s “F1: The Movie,” acknowledged the potential for job losses but praised David Ellison, Paramount Skydance chairman and CEO, for his passion for movies.

He noted that while many may lose their jobs, Ellison’s ambition to release 30 theatrical films a year shows commitment to cinema.

Jason Blum, recipient of the Milestone Award, suggested that fears over consolidation are “overblown,” framing the merger as a natural response to emerging competitors like Netflix, Amazon, and Apple.

Blum also expressed confidence in Ellison’s dedication to theatrical filmmaking, while recognizing the “real fear” of workforce reductions.

Norman Lear Achievement Award honoree Mara Brock Akil highlighted the uncertainty surrounding the merger.

She urged the creative community to define its collective identity and engage with the evolving studio landscape, which could become the most powerful in Hollywood.

Producer Charles Roven discussed the hurdles of the transaction, noting regulatory scrutiny and overlapping assets between Warner Bros. and Paramount/Skydance.

He questioned whether Ellison could be deeply involved in all 30 proposed films, given the scale of the merger.

Mike Farah, PGA Awards Co-Chair, acknowledged concerns about industry consolidation and its potential impact on Hollywood, while remaining cautious in forming a final opinion.

Producer Pippa Harris expressed worry over reduced avenues for pitching projects but hoped Warner Bros. would continue producing successful films under future leadership.

Overall, the producers’ reactions illustrate a mix of apprehension over job security and consolidation, tempered with hope that strong, committed leadership can sustain theatrical filmmaking and creative opportunities.