The intrigue of the Emmy race over most of the last decade has been largely over who between longtime awards juggernaut HBO and plucky upstart Netflix will come up on top. Barring a rare outlier, like FX’s record showing at the 2024 Emmys, topping both Netflix and HBO/ HBO Max powered by Shōgun and The Bea r’s streaks, it’s been HBO or Netflix in the pole position, depending whose top contenders are in-cycle. The pattern extends to the other major award shows with TV categories, including the Golden Globes, the Critics’ Choice and The Actor Awards.

Netflix’s proposed $82.7B acquisition of HBO/HBO Max and Warner Bros.’ film and TV studio would bring a seismic shift to the TV awards landscape, creating a behemoth of unrivaled proportions.

To provide a glimpse into what may be i

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