David Ellison, the owner of Paramount and Skydance, has taken his campaign against Netflix’s bid for Warner Bros. Discovery to Europe. He seeks to gather support for his $108.4 billion hostile takeover attempt while meeting with key political and entertainment figures across the continent.
During his visit, Ellison has engaged with high-profile leaders including French President Emmanuel Macron and representatives from the European Commission. These meetings come at a time when regulators in both Europe and the United States are closely examining the proposed acquisition. Ellison aims to establish alliances that could strengthen his position in the ongoing negotiations.
This European trip follows a decision by a Delaware Chancery Court judge, who denied Paramount Skydance’s request to expedite its lawsuit against Warner Bros. Discovery. The lawsuit aims to compel Warner Bros. Discovery to disclose financial details concerning Netflix’s $83 billion deal. This legal setback adds pressure on Ellison as he navigates the complex landscape of media consolidation.
Ellison has emphasized his commitment to preserving the theatrical experience in film. He stated, “We believe in the power of cinema,” highlighting the importance of traditional movie distribution methods. In a parallel move, Netflix co-CEO Ted Sarandos has also expressed intentions to maintain 45-day theatrical windows for Warner Bros. films should the acquisition succeed. Sarandos commented in an interview with The New York Times: “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.”
As the battle for Warner Bros. Discovery continues, both Ellison and Sarandos are working to secure their respective positions in an evolving entertainment industry. The outcomes of their efforts are expected to significantly impact the landscape of film and television production, distribution, and consumption.
The stakes are high, and with major players involved, the outcome of these negotiations will likely shape the future of content creation and distribution for years to come.
