Paramount Intensifies European Campaign for Warner Bros. Discovery

David Ellison is escalating his efforts to secure a $108.4 billion bid for Warner Bros. Discovery as he takes his campaign to Europe. The owner of Paramount and Skydance is engaging with political leaders and entertainment industry figures, including French President Emmanuel Macron, in a bid to garner support for his hostile takeover of the media conglomerate.

Ellison’s meetings come at a critical time, as both European and U.S. regulators closely examine the proposed acquisition. He aims to find allies among influential stakeholders while facing legal challenges regarding the financial details of a competing bid from Netflix. The Delaware Chancery Court recently denied Paramount Skydance’s request to expedite its lawsuit against Warner Bros. Discovery to access information related to the $83 billion Netflix deal.

As Ellison emphasizes his commitment to the theatrical experience, Netflix co-CEO Ted Sarandos is similarly vocal about their intentions. In an interview with The New York Times, Sarandos stated that if the sale of Warner Bros. Discovery is finalized, Netflix will maintain a 45-day theatrical window for its films. “If we’re going to be in the theatrical business… we want to win. I want to win opening weekend. I want to win box office,” he said.

Ellison’s European outreach aims to reinforce his position amid ongoing scrutiny. His strategy highlights the complexities of the media landscape, where traditional theatrical experiences are increasingly challenged by streaming platforms. As the negotiations unfold, the outcomes could have significant implications for the future of both Paramount and Warner Bros. Discovery.

The situation continues to evolve, with both Ellison and Sarandos advocating for their respective visions in a rapidly changing market. The stakes are high in this battle for dominance in the entertainment industry, and the coming weeks will likely reveal more about the potential impacts of these high-profile negotiations.