All posts tagged: Warner Bros. Discovery

CNN Staff Wary of Bari Weiss Oversight in Paramount-Warner Bros. Merger

CNN Staff Wary of Bari Weiss Oversight in Paramount-Warner Bros. Merger

Published by Daniella Wilson

As Paramount‘s $111 billion takeover of Warner Bros. Discovery gets closer to being completed, CNN is getting ready for what the merger will mean for the media company. Warner Bros. is CNN’s parent company, meaning the news property will be a major part of the acquisition alongside other assets including HBO, the Warner Bros.’ movie studio and more. This has left CNN staffers uncertain about the company’s future given shifts that David Ellison has implemented at CBS News. After closing Skydance’s $8 billion deal for Paramount Global last summer, Ellison appointed Bari Weiss editor-in-chief of CBS News, which has led to many shifts. Most recently, Weiss ignited a major overhaul of 60 Minutes, which saw Nick Bilton named the show’s new executive producer, terminating exec producer Tanya Simon while many correspondents and producers were also fired. Scott Pelley has been the most vocal of those terminated from 60 Minutes, as he was fired after a fiery meeting with Bilton, where he claimed Weiss is “murdering 60 Minutes. She does not love this place; she was brought in to kill …

DOJ Signs Off on Paramount-Warner Bros. Deal

DOJ Signs Off on Paramount-Warner Bros. Deal

Published by Daniella Wilson

The Justice Department has cleared Paramount‘s $111 billion megadeal for Warner Bros., a key approval that removes a major regulatory roadblock to completing the merger that will reshape Hollywood. The acquisition will “increase competition across the media and entertainment ecosystem,” the Justice Department’s Antitrust Division said in an announcement on Friday. The agency found that markets for streaming, linear TV and the development, production or distribution of films for theatrical release will not be harmed. The decision clears the way for Paramount to become the largest theatrical distributor in the country and own a top five streamer by subscriber count unless the merger is stopped by another entity. “We are grateful for the Department of Justice’s thorough review of this transaction, as well as the work of the other agencies that have completed their reviews and provided clearance to date,” a Paramount spokesperson said in a statement. “This deal is pro-competitive, resulting in a stronger company better positioned to compete against dominant technology platforms in an industry increasingly defined by intense competition for audiences, talent, technology, …

U.K. Begins Formal Review of Paramount-WBD Megadeal

U.K. Begins Formal Review of Paramount-WBD Megadeal

Published by Daniella Wilson

Britain’s Competition and Markets Authority (CMA) has formally opened a probe into the David Ellison-led Paramount’s proposed $111 billion takeover of Warner Bros. Discovery, the merger watchdog said on Tuesday. In a statement, the CMA set an initial deadline of Aug. 7 for a ruling on the Hollywood megadeal that would combine two major studios, two big news operations, streaming services and two portfolios of cable networks. “The initial period of [the investigation will] … commence on the first working day after the date of this notice, ie on 10 June 2026,” the M&A authority said. “The deadline for the CMA to announce its decision whether to refer the merger for a phase 2 investigation is therefore 7 August 2026.” A “phase 2” investigation is a more in-depth review conducted by the CMA if its initial phase 1 probe concludes that a proposed transaction may lead to a “substantial lessening of competition.” The CMA on Tuesday also issued an “invitation to comment” to allow interested parties to submit “any initial views on the impact that …

Entertainment Workers Oppose Paramount-WBD Merger in Town Hall

Entertainment Workers Oppose Paramount-WBD Merger in Town Hall

Published by Daniella Wilson

Emotions spilled over at a gathering of Hollywood workers, union officials and a current and former FCC commissioner opposed to the planned Paramount Skydance-Warner Bros. merger on Saturday, with some arguing that the mega-merger on top of other recent challenges in the business would mean the “death of Hollywood.” Writers, actors, crew members and small business owners made dire predictions for the proposed $111 billion transaction at the “Main St. vs. The Merger” town hall at Beverly Hills’ Lumiere Cinema. Some expressed feelings of powerlessness at the prospect of one historic studio swallowing another, a transaction Warner Bros. shareholders approved in late April. Others, including moderator and former FCC commissioner Alvaro Bedoya, urged that the transaction isn’t a done deal yet and called for hope. On Friday, Reuters reported that California, New York and other state attorneys general are preparing a lawsuit to block the merger after California attorney general Rob Bonta previously promised to look into the deal. Nevertheless, many in the room didn’t seem to be banking on that suit stopping the transaction. …

Paramount-Warner Bros Merger Should Be Reviewed, Not Resisted

Paramount-Warner Bros Merger Should Be Reviewed, Not Resisted

Published by Daniella Wilson

Hollywood is not just another sector of our economy. It is part of our culture, one of our great global competitive advantages, and a source of well-paying jobs for hundreds of thousands of Californians. From soundstages in Los Angeles to post-production facilities, visual effects shops, small vendors, independent contractors and family-owned businesses across the state, the movie and television industry supports an ecosystem that has taken generations to build and sustain. California leaders are right to take seriously their responsibility to protect and strengthen that ecosystem and the workforce that depends on it. The proposed $111 billion merger between Paramount and Warner Bros. Discovery warrants a careful and rigorous review grounded in facts, market realities and established antitrust principles. Antitrust enforcement is an essential, vital tool when a merger is likely to reduce competition, raise prices, suppress wages or limit consumer choice. Attorney general Rob Bonta recently suggested that California sees “red flags” in the proposed transaction and is evaluating whether the state should mount an antitrust challenge. As a former California attorney general, I …

Warner Bros. Reaches Million Deal Over ‘Matrix’ Legal Battle

Warner Bros. Reaches $57 Million Deal Over ‘Matrix’ Legal Battle

Published by Daniella Wilson

Village Roadshow has agreed to pay Warner Bros. $57 million to resolve its liability in an arbitration over financing on Matrix Resurrections. The figure was reduced from over $125 million after the financier filed for bankruptcy. In 2023, an arbitrator found that Village Roadshow breached a series of deals involving the Matrix films by failing to pay its $107 million share of the cofinancing agreement, The Hollywood Reporter learned last year. The legal battle started in 2022 when the studio filed two arbitration demands against Village Roadshow, one over the Matrix Resurrections and the second over Wonka and other properties the financier shared the rights to with Warner Bros. The financier responded by filing a headline-grabbing lawsuit against Warner Bros. in California state court, accusing the studio of breach of contract over its decision to release the Matrix sequel simultaneously on HBO Max and in theaters. The case went dark shortly after, with a judge moving it to arbitration. An arbitrator ultimately found Village Roadshow breached the co-ownership and distribution agreements. The financier also lost …

HBO Max Is ‘Probably’ Our ‘Most Important Asset’

HBO Max Is ‘Probably’ Our ‘Most Important Asset’

Published by Daniella Wilson

David Zaslav really loves HBO Max. (You can go ahead and just forget about that whole “Max” era.) On Wednesday, Zaslav called HBO Max “probably” Warner Bros. Discovery‘s “most important asset.” It is streaming’s unique ability to house entire TV and film libraries that, in his mind, places it above linear assets like HBO, CNN and the Turner Channels. The same goes for WBD’s theatrical distribution business, which also ultimately serves as a feeder system for HBO Max. So I guess that’s what David Ellison is (mostly) paying $111 billion for. One could very reasonably argue that Warner Bros. studios are actually a bit more valuable — the company’s motion picture business is certainly its most iconic asset. (The studio lot is pretty cool too.) But it is actually WBD’s linear networks business that still technically brings in the most money, and then studios, and then streaming. But the times, they are a-changing, and this cable cowboy — the protégé of the actual cable cowboy John Malone, recognizes it. Zaslav also said on Warner Bros. …

Paramount Sued By Subscribers Over Warner Bros., Skydance Deals

Paramount Sued By Subscribers Over Warner Bros., Skydance Deals

Published by Daniella Wilson

A lawsuit has been filed challenging Paramount‘s $110 billion megadeal for Warner Bros. Discovery, the opening legal salvo over a merger that will reshape Hollywood. Paramount subscribers, in a lawsuit filed on Thursday in California federal court, allege the acquisition will substantially reduce competition in streaming, news and theatrical distribution in violation of antitrust laws. They seek a court order blocking the merger and unwinding Skydance‘s acquisition of Paramount. The deal will consolidate “Paramount’s ability and incentive to raise prices, reduce output, narrow slates, reduce quality, and worsen consumer-facing terms, including through control of distribution, exclusivity, windowing, and licensing,” states the complaint. The lawsuit is believed to be the first legal action targeting the merger that would combine two of Hollywood’s legacy studios. Consumers represent one of several groups that could pose an obstacle to consummating the deal, which includes the Justice Department, state attorneys general, the European Union and the Federal Communications Commission.  “Paramount/Warner Bros. is not a done deal,” California Attorney General Rob Bonta said in February, hours after Netflix declined to raise …

David Zaslav 2025 Pay Package Revealed Ahead of Paramount Deal

David Zaslav 2025 Pay Package Revealed Ahead of Paramount Deal

Published by Daniella Wilson

Warner Bros. Discovery CEO David Zaslav saw his compensation package soar to $165 million in 2025, tripling the pay package he received in 2024. The package was driven by option awards that were part of a revised employment contract the executive inked last year, which incentivized him to pursue a strategic review for the company, and ultimately which resulted in WBD’s sale to Netflix, and then to Paramount. His base salary remained the same at $3 million, his stock awards were consistent at $22.6 million, his non-equity incentive comp rose slightly to $25.7 million, and his other compensation (driven by security and private jet use) rose to $4 million, but it was the $109.6 million in option awards that really drove the growth. Zaslav had a compensation package valued at $51.9 million in 2024, driven by higher non-equity incentive plan pay of $23.9 million and stock awards of $23.1 million. 2025 could very well end up being Zaslav’s last full year atop the entertainment giant, which has inked a deal to sell itself to David …

David Ellison Held Dinner Party ‘Honoring’ Trump

David Ellison Held Dinner Party ‘Honoring’ Trump

Published by Daniella Wilson

David Ellison held an event at the at the U.S. Institute of Peace on Thursday in honor of Donald Trump, where the president reportedly spoke to guests for nearly an hour. According to a Friday report by The Times, CBS News executives and journalists were in attendance, including Bari Weiss and Norah O’Donnell. The acting attorney general Todd Blanche was also present; the Justice Department, which Blanche oversees, still has to approve Paramount‘s $110 billion megadeal for Warner Bros. Discovery. Invitations for Thursday’s event, that were given out by Paramount and named Ellison as host, described the night as “honoring the Trump White House.” WBD shareholders approved Ellison’s impending Paramount merger on Tuesday, inching the deal closer to being completed. Trump gave remarks at the dinner for almost an hour, The Times reported, where Paramount’s chief legal officer Makan Delrahim; Secretary of State Marco Rubio; and White House Deputy Chief of Staff Stephen Miller were all also in attendance. Anonymous CBS News journalists told The Times they were “taken aback” by the dinner, and worried it …