All articles tagged with #warner bros discovery
More than 200 journalists, academics and filmmakers signed a letter warning that Paramount Skydance’s merger with Warner Bros. Discovery could lead to improper political meddling at CNN, citing alleged changes at CBS to appease Trump and concerns about editorial influence; signatories include Jim Acosta, Judy Muller and Laura Poitras, with regulators still reviewing the deal and Ellison claiming independence will be maintained.
Paramount has assembled a high-powered antitrust defense team, led by Jeffrey Kessler, with former DOJ officials Makan Delrahim and David Gelfand and top firms Cravath and Latham & Watkins to defend its $110 billion Warner Bros. Discovery merger, signaling confidence that regulatory challenges will be met head‑on.
David Ellison’s $111-billion bid to merge Paramount with Warner Bros. Discovery has sparked a Hollywood backlash—thousands signed an open letter opposing the deal amid fears of media concentration and political entanglements, even as Ellison argues the merger would boost competition and pledges to keep producing films; critics warn of job losses and give the administration leverage over outlets like CNN and CBS News.
S&P Global Ratings says Paramount’s junk-status debt will be downgraded to BB when its Warner Bros. Discovery merger closes, as the combined group is expected to carry very high leverage (about 7.6x adjusted debt/EBITDA in 2026, not projected below 5x until 2029) and faces integration and regulatory risks; Paramount would assume roughly $30B of WBD net debt on top of its own, with potential $6B in cost synergies that may take time to realize.
Mark Ruffalo says he’s already on a list of enemies for opposing Paramount’s hostile takeover of Warner Bros. Discovery, telling the I’ve Had It podcast that he and attorney Norm Eisen are pushing state antitrust action and have gathered about 5,000 signatures on an open letter. He warned the Ellison-backed deal could degrade journalism and cost jobs, noting fear among peers but saying courage is contagious and urging Hollywood agencies to stand with unions. Netflix previously walked away from bidding on the deal, highlighting the high stakes for the industry.
Trump's first-quarter financial disclosure shows purchases of Paramount and Warner Bros. Discovery stock and substantial Netflix trades, with additional activity across Disney, Comcast and other major tech/media names; the White House says the portfolio is independently managed, and DOJ is reviewing the Paramount–Warner Bros. Discovery merger, providing context to the trading disclosed.
Warner Bros. Discovery’s upfront lunch carried a valedictory air as Paramount Skydance’s $110 billion bid to acquire WBD looms, with a Sept. 30 close target pending regulatory approvals. Executives touted the company’s advertising products while the deal’s implications—turning Turner, HBO, and Warner Bros over to a new parent—hung over the room. Insiders pointed to two factors likely to help garner approval: Larry Ellison’s influence and Makan Delrahim, DOJ antitrust veteran now Paramount’s chief legal officer. CEO David Zaslav could collect up to $886 million on closing, despite a shareholder vote against part of his pay, underscoring the ongoing volatility of media M&A.
Warner Bros. Discovery’s annual upfront spotlighted a strong IP slate—Minecraft Movie 2, a Harry Potter TV series, The White Lotus season 4, and cross‑platform ad offerings across HBO Max, Discovery+, and CNN—while openly acknowledging industry upheaval and the looming Paramount Skydance deal, playfully nodding to “Ellison in the room” as a symbol of change ahead. The showcase featured cameos from Shaquille O’Neal, Leslie Jones, and Terry Crews, and underscored a push to engage the TikTok generation, but left audiences after about an hour while executives reaffirmed that the core content portfolio remains the company’s centerpiece.
Warner Bros. Discovery’s 2026 upfront came off as muted and star-poor: no fall slate to sell, absent CEO David Zaslav and HBO chief Casey Bloys, and a lineup consisting mainly of familiar faces. Executives tried to frame the event around partnerships and performance, but critics called it forgettable, likening it to a wake for a company in flux as WBD eyes major changes—including a reported path to a Paramount Skydance merger—pending regulatory approval.
Warner Bros. Discovery’s sales chiefs opened the upfront by addressing the looming Paramount acquisition, noting that change is coming but promising a united, best-in-class team to guide advertisers through the transition as the $110 billion deal moves toward closing, while highlighting the merger history and evolving role of HBO/Warner assets in upfront pitches.
At Warner Bros. Discovery’s Upfront in New York, ad-sales leaders used a faux Freudian slip to acknowledge the looming $111 billion Paramount merger, signaling potential industry-wide changes as regulators weigh the deal. The presentation highlighted advertiser nerves and industry skepticism, with Paramount pledging a strong theatrical slate and job protections, while shareholders already approved the merger in April and regulators remain the remaining hurdle.
Warner Bros. Discovery’s upfront at Madison Square Garden showcased a cable-heavy slate, featuring The Pitt and Stuart Fails To Save The Universe, Heated Rivalry, plus CNN’s refreshed news lineup and a new weather app, as the company also notes its merger dynamics with Paramount and related strategy shifts.
Two press-freedom groups that own shares in Paramount Skydance are demanding access to the company’s books amid allegations that David and Larry Ellison promised favors to the White House to win approval for Paramount’s $111 billion takeover of Warner Bros. Discovery, including alleged plans to overhaul CNN. The groups warn such conduct could breach fiduciary duties and invite civil or criminal penalties, as regulators weigh the deal amid debt concerns and broad political and industry opposition.
Two press-freedom groups allege Larry Ellison promised the Trump administration that, if Paramount Skydance’s bid to acquire Warner Bros. Discovery was approved, he would implement a sweeping CNN staff overhaul modeled on CBS. The groups say the promise could breach fiduciary duties and have requested internal Paramount Skydance documents. The allegations come as the Warner Bros. Discovery merger has been approved, with Bari Weiss linked to CBS News and the so-called 'CBS playbook' cited as context for a CNN reshuffle.
HBO Max finished Q1 with more than 140 million subscribers, topping internal forecasts, and Warner Bros. Discovery now projects about 150 million by year-end 2026 as international launches expand. Executives say momentum should lift subscriber revenue and engagement, with potential upside from Paramount content and a long-running Harry Potter slate helping drive growth and move the service toward profitability after a period of losses.