David Ellison, the owner of Paramount and Skydance, is actively seeking support for his ambitious bid of $108.4 billion to acquire Warner Bros. Discovery. The campaign has extended to Europe, where Ellison and his team are engaging with prominent political and entertainment figures, including French President Emmanuel Macron and officials at the European Commission. The aim is to build alliances as regulatory scrutiny intensifies both in Europe and the United States.
The urgency of Ellison’s European trip follows a recent ruling from a Delaware Chancery Court judge, who dismissed Paramount Skydance’s attempt to expedite its lawsuit against Warner Bros. Discovery. The lawsuit seeks to compel the disclosure of financial details related to Netflix’s $83 billion acquisition of Warner Bros. Discovery, a deal that has drawn significant attention across the industry.
Ellison has emphasized his commitment to preserving the traditional theatrical experience, countering similar sentiments expressed by Netflix co-CEO Ted Sarandos. In an interview with The New York Times, Sarandos stated that if the acquisition proceeds, Netflix intends to maintain a 45-day theatrical window for Warner Bros. films. He remarked, “If we’re going to be in the theatrical business… we want to win. I want to win opening weekend. I want to win box office.”
As the battle for Warner Bros. Discovery unfolds, Ellison’s strategy hinges on garnering political backing that could influence regulatory decisions. He faces a challenging landscape, with both European and U.S. regulators closely examining the implications of this high-stakes deal.
The outcome of this takeover bid could reshape the landscape of the entertainment industry, particularly in how major studios approach theatrical releases and streaming services. As this situation develops, the stakes remain high for all parties involved, underscoring the shifting dynamics of media consumption in an increasingly competitive market.
Ellison’s efforts in Europe represent a critical phase in his campaign, as he seeks not only to rally support but also to navigate the complex regulatory environment that surrounds such a monumental acquisition. The coming weeks are likely to be pivotal as both sides prepare for the next steps in this unfolding drama.
