David Ellison Completes $110 Billion Paramount Warner Bros Discovery Merger

David Ellison, CEO of Skydance, has completed a $110 billion merger of Paramount and Warner Bros Discovery. The deal creates a global media conglomerate encompassing HBO, CNN, CBS, and MTV. To manage a debt load exceeding $80 billion, Ellison is targeting $6 billion in savings over the next three years through restructuring and potential asset sales.

Ellison has committed to releasing at least 30 major films annually through 2031 and maintaining Channel 5 as a free-to-air broadcaster in the United Kingdom until 2034. To stabilize creative operations, he promoted Casey Bloys to oversee HBO and the combined streaming services of Paramount+ and HBO Max.

The merger has raised concerns regarding editorial independence at CNN and CBS, particularly following a $1 billion investment from Elon Musk and the appointment of Kenneth Weinstein as CBS News ombudsman. While Ellison stated, "We do not want to politicise the company," employees remain uncertain about potential job losses resulting from the restructuring.