When the news leaked that the remaining vestiges of 21st Century (apparently now temporarily known as “New Fox”) would keep the Fox lot in Century City it was a bad sign. The historic studio lot has been the home for the 20th Century Fox movie studio since 1926. When Disney revealed they had no interest in keeping that land, that basically told everyone the studio itself, its history and the company meant little to them in the acquisition that was formally announced today. Oh sure, they will be reportedly renting space on it for the next seven years, but its legacy will slowly fade away. So, rejoice fanboys, you’re going to get to see your favorite mutants alongside Captain America, Iron Man and the Black Panther in the years to come. But what a price to pay for everyone else.
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The industry clearly is unsure how to react to the news. The Walt Disney Company’s announcement touted that Disney would be “combining” (scary word) with Fox’s “critically acclaimed film production businesses, including Twentieth Century Fox, Fox Searchlight Pictures and Fox 2000, which together offer diverse and compelling storytelling businesses and are the homes of Avatar, X-Men, Fantastic Four and Deadpool, as well as The Grand Budapest Hotel, Hidden Figures, Gone Girl, The Shape of Water and The Martian.” That sounds all well and good, but does that mean 20th Century Fox will actually exist when the transaction formally transpires? No. Does that mean that thousands of people aren’t going to lose their jobs? No. Does this merger make the industry stronger as a whole? No.
What Disney’s current properties do, they do well. They provide often predictable, but “quality” entertainment. And, an emphasis on “broad entertainment.” But outside of what now seems to be a recent rare creative diversion with Lucasfilm’s “Rogue One” they pretty much stay in their lane (one only needs to see “The Last Jedi” to understand that mantra). Even superhero fans know it would be hard pressed to see Marvel Studios making “Logan” or “Deadpool” no matter how open they insist they are on the prospect of R-rated films. Running a complete studio such as 20th Century Fox is currently constructed is hard to streamline in that manner.
Fox currently makes everything from tentpole pictures such as them “Alien,” franchise to adult skewing fare such as “Hidden Figures” and “Murder on the Orient Express,” to teen comedies such as the upcoming “Love Simon,” to action thrillers like March’s Jennifer Lawrence starring “Red Sparrow.” Walt Disney Studios hasn’t been in that kind of business since they teamed with DreamWorks SKG. And if memory serves it wasn’t long before Spielberg’s team realized Disney’s marketing team could only stretch their talents so much and quickly segued to almost entirely Spielberg-only titles. And as for Searchlight? Nothing would be dumber than for Disney to shut down a prestige powerhouse that delivers not just Oscar nominations but consistent Best Picture winners. Especially if they want to give adults something to watch on their new Disney streaming service/app or on Hulu.*
*We’re actually quite confused on Disney’s intention to keep control of Hulu once it has a majority share of the service following the sale. Doesn’t that defeat the purpose of all of this if you have two major streaming services competing with each other? Who gets what? How does that help diminish Netflix’s marketshare?
There will be lots of signs in the future of all these divisions in the weeks to come. Does current 20th Chairman Stacy Snider stay pat or jump to either the Amazon Studios or Apple gigs that are currently open? Does Fox Searchlight send their acquisitions team to Sundance with the go ahead to buy new product? Will filmmakers with longstanding relationships with Fox such as Ridley Scott, Matthew Vaughn, James Mangold and Paul Feig move forward with either new or old projects during this period?
Beyond Searchlight’s remarkable 20+ year run, Fox is the studio that gave us “Titanic” (you didn’t know Fox produced and Paramount just released in the U.S. did you?), “The Revenant,” “Minority Report,” “Young Frankenstein,” “There’s Something About Mary,” “Walk the Line” and “9 to 5.” Even after Murdoch acquired Fox thirty years ago he watched as studio chiefs who reported to him dared audiences with films such as Steven Soderbergh’s “Solaris,” “Life of Pi,” “The Last of the Mohicans,” “Moulin Rouge!” and “Edward Scissorhands,” among others. Even if Fox is gutted and becomes a legacy label, will that creative spirit remain? Will filmmakers find a home to make daring films beyond Searchlight? That’s what many creatives are worried about. That’s why the WGA had harsh words about the merger today.
Nothing lives forever, but over the last 70 years, the movie industry has survived and thrived with the advent of broadcast television, cable television, home video, DVD and digital downloads. Every time the studio system was counted out, every time the media cried over falling box office, it adjusted. But this? This will have many wondering what’s exactly next. MGM effectively neutered itself years ago. Columbia Pictures slowly faded into an indistinguishable part of a struggling Sony Pictures. And 20th Century Fox? We’re gonna try and hope for the best.
Until the rumors fire up again about Paramount and Sony Pictures merging, of course.