David Ellison, the owner of Paramount and Skydance, is expanding his efforts to secure support for his $108.4 billion hostile bid for Warner Bros. Discovery by engaging with political leaders and entertainment figures across Europe. His outreach includes meetings with influential figures such as French President Emmanuel Macron and discussions at the European Commission. This strategic move comes amid ongoing scrutiny from regulatory bodies in both Europe and the United States regarding the proposed acquisition.
Ellison’s trip to Europe follows a recent decision by a Delaware Chancery Court judge, who dismissed Paramount Skydance’s attempt to expedite its lawsuit against Warner Bros. Discovery. The lawsuit seeks to compel the company to disclose financial details related to the $83 billion deal between Netflix and Warner Bros. Discovery, a matter of significant interest as the bid unfolds.
While Ellison emphasizes his commitment to preserving the theatrical experience, Netflix co-CEO Ted Sarandos has made similar statements regarding the future of Warner Bros. movies post-acquisition. In an interview with The New York Times, Sarandos asserted that Netflix plans to maintain a 45-day theatrical window for Warner Bros. films if the acquisition is finalized. He stated, “If we’re going to be in the theatrical business… we want to win. I want to win opening weekend. I want to win box office.”
The competition between Ellison and Sarandos highlights the evolving landscape of the entertainment industry, where traditional theatrical releases are increasingly at odds with streaming platforms. As the situation develops, both leaders are keenly aware of the need to secure a solid foothold in the market.
As Ellison continues his efforts to garner support in Europe, the outcome of his bid remains uncertain. The scrutiny from regulators, as well as the competitive dynamics between streaming services and traditional film distribution, will play a critical role in shaping the future of Warner Bros. Discovery.
