All articles tagged with #ellison
Paramount Skydance chief David Ellison has pressed a high-stakes bid to acquire Warner Bros. Discovery, including a hostile tender offer and talks with Netflix; while Skydance’s box-office legacy is anchored by Tom Cruise-led franchises, many films carry big budgets with uneven profitability, making a WBD takeover a potentially transformative move for both studios.
Paramount sweetens its bid for Warner Bros. Discovery by adding a quarterly ticking fee of $0.25 per WBD share if the deal isn’t closed by December 31, 2026 (about $650 million per quarter) and by funding a $2.8 billion termination fee to Netflix, plus financing concessions. The amended offer is fully financed with roughly $43.6 billion in equity from the Ellison family and RedBird Capital Partners and $54 billion of debt from major banks, backed by Larry Ellison’s personal guarantee of $43.3 billion. Paramount would reimburse WBD shareholders’ $1.5 billion financing cost and backstop an exchange offer to relieve WBD’s bondholder obligations, while offering flexibility between signing and closing and potential contractual tweaks if WBD’s performance worsens. WBD is pursuing its own Netflix-backed plan to spin off assets and remains resistant, making for a prolonged battle.
Paramount chairman and CEO David Ellison sent an open letter outlining an anti-monopoly, competition-forward stance as part of his $108.4 billion hostile bid for Warner Bros. Discovery. He pledges the combined entity would produce at least 30 theatrical features annually (15 from Paramount Skydance and 15 from Warner Bros. Studios), keep HBO independent, and maintain long theatrical windows (a minimum 45 days before PVOD, with 60–90 days for top titles), while continuing to license content and acquire third‑party material. Ellison argues the deal would strengthen competition against Netflix amid U.S. and EU regulatory scrutiny.
Minnesota Gov. Tim Walz and Attorney General Keith Ellison will testify March 4 before the House Oversight and Government Reform Committee about Minnesota social security/welfare fraud, as part of Chair James Comer’s investigation and a broader push to curb waste and abuse; Walz has previously spoken on immigration enforcement cooperation, and Ellison is a former congressman, with the hearing occurring amid ongoing funding and immigration-policy debates in Congress.
Caroline Ellison, former Alameda Research head and on‑again partner of Sam Bankman-Fried, was released from federal custody after serving about 14 months for seven charges tied to the FTX fraud; she testified against Bankman‑Fried, who received a 25‑year sentence, and Ellison was ordered to forfeit $11 billion, marking a late chapter in one of the largest U.S. financial-fraud investigations.
The Justice Department served grand jury subpoenas to Governor Tim Walz, Attorney General Keith Ellison, Minneapolis Mayor Jacob Frey and other Minnesota officials as part of a probe into whether state or local actors conspired to impede federal immigration enforcement.
Paramount Skydance chief David Ellison is conducting a high-profile European lobbying tour—meeting leaders in Paris (including President Macron) and senior officials, plus industry executives in Germany and the U.K.—to muster political and industry support for his $108.4 billion hostile bid to buy Warner Bros. Discovery and oppose Netflix. The outreach comes as regulators in Europe and the U.S. scrutinize both deals; Ellison’s team also highlights France’s four-month cinema windows versus Netflix’s longer timelines, while a Delaware court has so far blocked fast-tracking in the Warner-Netflix dispute, and the bid carries an Jan. 21 self-imposed expiration.
A federal lawsuit filed by Minnesota Attorney General Keith Ellison and the mayors of Minneapolis and St. Paul seeks to block ICE operations in the state as part of the Trump administration's 'Operation Metro Surge.' The judge did not grant an immediate restraining order, instead setting deadlines for the federal government to respond by Jan. 19 and for Minnesota to file its reply by Jan. 22, describing the case as a constitutional frontier with few precedents.
At the Golden Globes, host Nikki Glaser quipped about starting the bidding for Warner Bros. Discovery at five dollars, underscoring the high-stakes takeover battle between Paramount Skydance and Netflix-led WBD. Paramount has offered $30 per share backed by Larry Ellison, while WBD’s board urges shareholders to reject the deal. The ceremony also highlighted WBD’s nine wins across HBO Max, Warner Bros. Television and Warner Bros. Pictures as the corporate battle plays out behind the scenes.
Larry Ellison, co-founder of Oracle, is backing a $108 billion hostile bid for Warner Bros. Discovery to help his son, David Ellison, CEO of Paramount, expand their influence in Hollywood and media, highlighting a close and strategic father-son partnership.
Warner Bros.' fifth-largest shareholder criticizes Ellison's $40 billion guarantee as insufficient for Paramount's revised bid, highlighting ongoing tensions in the media industry deal negotiations.
Warner Bros. Discovery rejected Paramount Skydance's $30 per share takeover bid, citing concerns over valuation, regulatory issues, and the company's strategic direction, while the WBD board favored a deal with Netflix. The negotiations involved intense discussions over pay packages, foreign investment, and regulatory approvals, with Paramount's bid ultimately deemed insufficient compared to Netflix's offer.
Paramount CEO David Ellison emphasized the company's focus on building and opportunistic M&A strategies, notably pursuing Warner Bros Discovery amid ongoing sale talks, but did not comment on specific merger rumors or WBD's potential sale details.
David Ellison is aggressively pursuing a takeover of Warner Bros Discovery with bids up to $23.50 per share, totaling around $93 billion, but his offers have been rejected. WBD is exploring sale options amid interest from other tech giants like Netflix, Amazon, and Apple, and is considering splitting into two companies. The potential merger with Paramount could lead to significant layoffs and industry consolidation, driven by the need for scale and high-value IP in the declining linear TV market.
The Trump administration reportedly favors a bid by Paramount Skydance, led by David Ellison, to acquire Warner Bros. Discovery, raising concerns about potential corruption and media consolidation, with critics warning of increased corporate control over news and entertainment.