Paramount chief executive David Ellison breaks silence on Warner Bros mega merger
The chief executive of Paramount-Skydance says criticism of $110bn (£82m) merger with Warner Bros. relies on outdated Hollywood model.
Paramount Skydance chief executive David Ellison has spoken out on the $110bn takeover of Warner Bros. Discovery, dismissing opposition to the mega-merger. In an op-ed for The New York Times, he argued that fears of an overbearing media giant are misguided, as Hollywood as we know it has already changed. Ellison rejected claims that combining the two companies would give them too much control or threaten journalistic integrity.
The merger is currently on hold amid legal challenges from 12 state attorneys general, the Writers Guild of America, and the US Department of Justice, who all argue the deal violates antitrust laws. Ellison maintains news outlets CBS and CNN will stay non-partisan and objective, while stressing the combined entity would hold less than 20% of US television viewership.
He also promised increased spending on traditional film and TV content, backed by a $30bn annual investment, to support creative professionals against the influence of tech giants with vast resources.
Written by urgent.news from BBC Business's reporting — not their text. Machine-written — may contain errors; check the original before relying on it.
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