Oscar Voters May Reward Warner Bros. Before It’s Swallowed Up

Awards voters can choose a top winner for many reasons beyond the work itself – social justice (Moonlight), religious mea culpa (Spotlight), military guilt (The Hurt Locker), feeling bad for Ben Affleck (Argo).

But what has taken shape in the past two weeks, as Netflix and Paramount fight to take control of Warner Bros, could check a much rarer box on that list: rewarding the company about to get devoured.

On Wednesday the latest round in that bout unfolded, as Warner Bros. Revelation formally rejected the Paramount offer of $30 a share, likely leading to the David Ellison company unleashing another, higher-priced bid north of that $108 billion figure as he tries to pry it from Netflix. But all of that drama just benefits the contenders who have movies at WB.

One Battle after Another was a prohibitive frontrunner even before this sale was announced, topping most Oscar prognosticator lists thanks to Paul Thomas Anderson’s wry story of a revolutionary past his prime (and nabbing every conceivable nomination at the Golden Globes including picture, director, screenplay and five acting noms). Ryan Coogler’s Sinners hasn’t been far behind with pundits (or with Globes, with picture, director, screenplay and an acting nomination for Michael B. Jordan) as industry people are very drawn to the metaphorized vampire story in the jim Crow South.

Now those two choices become even greater heavyweights.

given the vibe around town, which runs roughly along the lines of, “Can you beleive what Netflix could do to the house that harry, Albert, Sam and Jack built?” a lot of voters are now looking at those pieces through new eyes. More than just powerful works of cinema, the movies are avatars for everything good and right about to go away. What card-carrying Hollywood pro can resist that argument? Warners isn’t just getting gobbled up by any larger company – it’s being consumed by a company that to date hasn’t believed in theatrical releases.

Even if the company went to Paramount…