David Ellison announces that the WBD deal has been finalised
Yesterday, Paramount Skydance cleared the legal hurdle that was still threatening its takeover of Warner Bros. Discovery. This is a colossal acquisition valued at $110 billion. David Ellison announced this to the group’s staff, with Larry Ellison’s son – the founder of Oracle – stating his aim is to finalise the deal in around two weeks.… Production expenditure The deal had been contested since July by twelve US states and the screenwriters’ union. Their argument boils down to a simple point: the deal risks reducing competition and penalising consumers. This is a classic criticism levelled at major media mergers, often dismissed by companies as a regulatory technicality, even though it strikes at the very heart of the market. To settle the lawsuits, Paramount has committed to increasing its production spending…