David Ellison Merges Warner Bros. and Paramount, Creates New Media Giant
Translated & summarized from Calcalist by baba
The story in 6 lines · by baba
- David Ellison is merging Warner Bros. and Paramount Pictures.
- The new entity will be named Skydance.
- The merger is financed by Larry Ellison and Saudi investors.
- Israeli Ynon Kreiz has been appointed co-CEO.
- Regulators approved the deal with production commitments.
- Concerns exist about potential political influence on media coverage.
The merger of Warner Bros. and Paramount Pictures, two of Hollywood's oldest studios, is set to be finalized, creating a new media empire under the leadership of producer David Ellison.
Ellison, 43, who founded Skydance 20 years ago and produced films like "Top Gun: Maverick," has aggressively acquired media assets. Last year, he purchased Paramount-Viacom, which includes CBS and Comedy Central. This move allowed him to gain control of Warner Bros., even after a deal for Netflix to acquire the studio had been reached.
The newly formed entity, which will now bear the Skydance name, encompasses not only film studios but also CBS News, CNN, and HBO. Ellison's decision to rename the combined studio Skydance has been seen as a move prioritizing his own brand over the legacy of the historic studios.
The merger received court approval after over six months of negotiations with regulators in the US and Europe, who had concerns about its impact on the film industry. To secure approval, Ellison committed to maintaining the current production volume of both studios and keeping their operational base in Hollywood, California.
Ellison's acquisitions are financed by his father, Larry Ellison, the billionaire founder of Oracle. Larry Ellison, a supporter of Donald Trump and a known supporter of Israel, secured funding for the Warner Bros. purchase through investments from Saudi Arabian businessmen. David Ellison recently announced the appointment of Israeli Ynon Kreiz, formerly CEO of Mattel, as co-CEO. Kreiz previously worked with Haim Saban and was instrumental in Warner Bros.' success with the film "Barbie."
The new media conglomerate faces scrutiny regarding potential political influence, particularly concerning CNN's coverage and the implications of its ownership structure for those with differing views on Israel. Concerns exist that the Ellison family's wealth and political leanings could foster a conservative, Trump-aligned propaganda machine. However, there is also hope that the creative potential of franchises like "Harry Potter," "Batman," and HBO series might overshadow political agendas, allowing creators to focus on filmmaking.
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