Paramount Looking At Bid For Warner Bros. Discovery Acquisition
Image Source: Cultureslate
Disney is not the only big Hollywood studio with an active merger & acquisition department.
After taking control over Paramount Global, Skydance Media has now set its sights on Warner Bros.
Skydance, led by David Ellison, son of Larry Ellison, founder of Oracle, and currently matching with Elon Musk for the title of richest man on earth, recently acquired Paramount for $8.4 billion. However, that's seemingly not enough for the family with very deep pockets.
While previous rumors suggested that Skydance/Paramount was interested in acquiring Warner Bros Studios, which is currently in the process of separating itself from the company’s global cable networks and linear television, it now seems that Ellison wants the whole company.
“Ellison has been looking at Warner Bros for a while. Nothing new there, he’s just taking a closer look, assessing the pros and cons,” an individual close to Paramount told Deadline.
As is usually the case when such news emerges, the rumor sent the Warner Bros shares skyrocketing, rising more than 30% in just one day.
When Skydance acquired Paramount, it had to get clearance from the FCC, as Paramount Global owns CBS and thus holds a broadcast license. Ultimately, the company had to install an ombudsman to take care of any customer complaints over news content.
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Taking over Warner Bros. Discovery would be easier in this regard, but a merger of this magnitude could raise concerns from the Justice Department, as it would further reduce competition in a market that is already very condensed.
And then there is also the possibility of political interference, as the Ellison clan is very close to the Trump family and Warner owns CNN, one of the most prolific critics of the current administration…
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Source: Deadline
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