Paramount's David Ellison recruits Mattel CEO to help run his expensive new toy
Reassuring everybody that a plucky little movie studio CEO really can make it in this world, with nothing but extensive political connections, a moderate number of massive economic threats, and some big heaping piles of Daddy's money, Paramount CEO David Ellison was treated to news today that his settlement with the state Attorneys General who were the last roadblock between him and a purchase of…
Paramount CEO David Ellison has secured approval for the $111 billion merger with Warner Bros. from U.S. District Judge Araceli Martínez-Olguín. The settlement, hailed as "procedurally sound," avoids the more stringent demands of California's Attorney General Rob Bonta and his colleagues. Instead, the deal focuses on promises such as keeping both Paramount and Warner Bros. lot holdings for five years, releasing 30 movies annually, and establishing an "editorial independence board" to oversee CBS News and CNN.
Ellison has also appointed Mattel CEO Ynon Kreiz as co-CEO of the merged company, alongside HBO's Casey Bloys and former Warner CEO David Zaslav, who will leave with significant monetary compensation.
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