Paramount CEO: Hollywood needs audiences to make Warner Bros deal a success

Paramount Skydance CEO David Ellison has defended the company’s proposed merger with Warner Bros. Discovery, dismissing antitrust lawsuits brought by 12 states and the Writers Guild as being less about competition and more about trust. Writing in an op-ed for The New York Times, Ellison said, “I believe this fight is not really about market share…The issue is whether I can be trusted as a steward of Warner’s CNN.” Ellison rejected speculation about his political leanings, noting he has supported candidates from both parties and holds a mix conservative and liberal views. He stressed that newsroom coverage under Warner would remain independent and fact-based. “Our journalists will continue to answer to the facts and to all the people they serve — not to any party or cause,” he wrote.Paramount CEO David Ellison vision for Hollywood revivalEllison has also revealed that he has outlined a plan to revive Hollywood by expanding Paramount’s theatrical and streaming output. Before the merger of Paramount Skydance and Warner Bros. the company doubled its theatrical slate to 15 films, greenlit 40 Paramount+ series, and planned 90 TV series for 2026, while boosting content spending by $1.5 billion. After the merger happened, the combined company now aims to produce 30 theatrical films and 170 TV series annually, investing more than $30 billion in content each year. “Hollywood’s story can have a happy ending only when we connect with our audience,” Ellison said.Merger trial delay raises stakesA federal judge has scheduled the antitrust trial for March 2, 2027 which will delay the Paramount Skydance and Warner Bros. merger by seven months. The lawsuit seeks to block the deal and this delay could cost Paramount over $1 billion in ticking fees, as it owes Warner Bros. Discovery shareholders about $7 million per day after September 30 if the merger remains unfinished. Ellison said the company is open to resolving the matter out of court but remains confident it will prevail at trial.Paramount Skydance reported mixed earnings resultsParamount Skydance reported mixed second-quarter results, with revenue rising 1% year-over-year to $6.91 billion, beating estimates, while profit fell short at $41 million. Streaming revenue grew 9% to nearly $2.5 billion, driven by subscriber gains from Paramount+ content including UFC Freedom 250 and the FIFA World Cup. Studio revenue reached $1.3 billion, though theatrical performance lagged compared to last year’s Mission: Impossible — The Final Reckoning.Get the latest technology news and updates. Download the TOI App.