Read the memo that Paramount CEO David Ellison sent to staffers after 2 settlements that clear the way for his WBD deal
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.
Paramount CEO David Ellison has informed employees that the company's deal to purchase Warner Bros. Discovery has been cleared, following settlements in lawsuits that had previously blocked the merger. Ellison announced in a memo that California Attorney General Rob Bonta, on behalf of himself and 11 other state attorneys general, had reached a settlement with California over the lawsuit.
Additionally, a settlement was reached with the Writers Guild of America. These agreements include commitments such as producing 30+ films annually and expanding U.S. film production, aimed at revitalizing the industry and supporting those involved. Ellison expressed excitement about the merger, stating that it would lead to more opportunities for creatives, production crews, and employees across the business, as well as more great entertainment for audiences.
The company plans to close the deal in about two weeks, but closing is just the beginning, as integrating two large companies will take time. Employees are encouraged to visit the Integration Hub, consult their managers or HR representatives, or email internalcomms@paramount.com with any questions or concerns. Ellison thanked the company's employees for their patience, commitment, and hard work during the process, emphasizing that the company's success will depend on its dedicated workforce.
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