Paramount Skydance said Thursday it is launching a syndication to raise $7.5 billion through a proposed senior secured incremental tranche of term “B” loans. The David Ellison-led company it will use the funds toward its $111 billion Warner Bros. Discovery merger, and to pay down certain other debt. In total, Paramount said it now intends […]
Variety•Todd Spangler2h ago
David Ellison, seeking fresh capital for a merged Paramount-Warner Bros., is considering reaching out to tech mogul Elon Musk — the world’s richest person — to “become part of a syndicate of equity investors into Paramount,” according to a report by Semafor. According to the report, citing anonymous sources, “Musk’s name is one of a […]
Variety•Todd Spangler23h ago
Emanuel also believes David Ellison’s doing right by an independent press.
The Hollywood Reporter•Steven Zeitchik23 Sept
Sen. Cory Booker (D-CA) weighed in on the proposed settlement reached between Paramount-Warner Bros. Discovery and state attorneys general, criticizing the agreement yet casting blame on the David Ellison-run company and the Justice Department. In a statement, Booker said, “This is what happens when federal enforcers abandon their posts. States are left to carry the […]
Deadline•Ted Johnson22 Sept
Inside the settlement talks between the media mogul David Ellison and the coalition of states seeking to block his $111 billion deal.
The New York Times•David McCabe, Benjamin Mullin and Shawn Hubler22 Sept
Paramount Skydance’s David Ellison has prevailed in his dogged pursuit of Warner Bros. Discovery. Now comes the hard part: making the economics of the combined company work, given an extremely high debt load of the combined media company. Following the announcement of Paramount’s settlement with the 12 Democratic state attorneys general resolving their antitrust case […]
Variety•Todd Spangler22 Sept
After telling top lieutenants he was serious about relocating Paramount from its century-old home if the states' lawsuit proceed, the mogul has now changed tune.
The Hollywood Reporter•Erik Hayden21 Sept
John Oliver took a dig at “soon-to-be business daddy” David Ellison on the latest episode of Last Week Tonight. The comedian is known to take jabs at his “business daddies,” and amid the Paramount-Warner Bros. merger, Oliver took a swipe at Ellison. While discussing UnitedHealthcare and its denial of insurance claims, Oliver gave an example […]
Deadline•Armando Tinoco21 Sept
The looming ownership of the network by David Ellison has caused anxiety in its newsroom for months.
The New York Times•John Koblin and Benjamin Mullin21 Sept
Paramount CEO David Ellison said Monday’s settlement of two lawsuits aimed at blocking the company’s pending merger with Warner Bros. Discovery represent “an exciting moment for our company and our industry.” However, he added in a memo to employees, there is “still work ahead to get this deal across the finish line.” (Read the full […]
Deadline•Dade Hayes21 Sept
After almost a year in the trenches pulling together his historic combination of Paramount Skydance and Warner Bros. Discovery, David Ellison has finally emerged victorious. On Monday, the Silicon Valley heir confirmed he’d reached a settlement with a group of state attorneys general, who sued to block the merger over antitrust concerns. The proposed merger […]
Variety•Varietymattdonnelly21 SeptWhen your dad is one of the richest men in the world — and a Trump pal — you get the media conglomerate you want.
Paramount Skydance's CEO confirmed to employees that the company had settled the lawsuits that were holding up its deal to buy Warner Bros. Discovery.
David Ellison’s endgame is in sight. Following a dramatic weekend of negotiations with a collection of state attorneys general and the WGA, the mogul’s path to combining Paramount Skydance and Warner Bros. Discovery is now clear. In a Monday address to staff, Ellison said his team’s goal is to “to close in approximately two weeks. […]
Variety•Varietymattdonnelly21 Sept
It wasn’t quick, it wasn’t pretty, but Paramount’s David Ellison got to where he wanted, an acquisition of Warner Bros. Discovery by October 1 when a costly ticking fee was to come into effect. While California Attorney General Bonta was still making the announcement of the anti-trust lawsuit being settled, laying out its terms, Ellison, […]
Deadline•Nellie Andreeva21 Sept
Paramount has reached a settlement with California and the 11 other states that sued to block its planned $110 billion acquisition of Warner Bros. Discovery. The settlement removes a major roadblock standing in the way of the massive media merger. Paramount Chairman & CEO David Ellison: We are grateful to Attorney General Bonta and his […]
The Verge•Emma Roth21 Sept
The deal would remove the last significant hurdle the media mogul David Ellison faced to create a news and entertainment empire, home to movie studios, HBO, CBS and CNN.
The New York Times•Benjamin Mullin, David McCabe, Shawn Hubler and Laurel Rosenhall21 Sept
John Oliver took a dig at Paramount Skydance CEO David Ellison during his piece on UnitedHealth Group on "Last Week Tonight".
During a segment on UnitedHealthCare's history of denying claims, Oliver said: "Having access to wealthy parents just cannot be the system to get badly needed healthcare, even if it is apparently the system that lets you be in charge of HBO."
The Hollywood Reporter•Kimberly Nordyke21 Sept
When we last saw John Oliver behind the desk of “Last Week Tonight,” he was mocking Trump for sacrificing a number of members of his senior staff on a decoy plane amidst his peculiar catering truck escape in Turkey. On Sunday night, the funnyman returned to his Emmy-winning HBO series after a monthlong summer break […]
Variety•Marlow Stern21 Sept
