Los Angeles, CA — David Ellison, chairman and CEO of Paramount Skydance, recently addressed speculation about a potential acquisition of Warner Bros. Discovery (WBD) during the Bloomberg Screentime conference in Los Angeles. While declining to confirm any specific bids, Ellison emphasized that “there’s a lot of options out there” in terms of mergers and acquisitions that are actionable in the near future.
Ellison on WBD and M&A Strategy
Ellison did not comment directly on whether Paramount had submitted an offer for WBD, citing the company’s status as a publicly traded entity. “We’re not in a position to comment on rumors or speculation,” he said.
However, he elaborated on Paramount’s broader strategy, stating that any acquisition would aim to expand content production, noting:
“You actually need more content to yield more engagement…we would want to be in the business of producing more movies, more television series, to get more scale and engagement.”
Ellison’s comments suggest that Paramount is exploring opportunities to grow its media footprint, particularly ahead of WBD’s planned 2026 split into Warner Bros. and Discovery Global.
Strategic Moves Since the Paramount-Skydance Merger
Since the completion of the Paramount-Skydance merger, Ellison has taken steps to reinvigorate the company’s content and digital strategy:
- Acquisition of The Free Press, a conservative-leaning digital outlet, with Bari Weiss named CBS News editor-in-chief.
- Paramount’s $7.7 billion deal with the UFC, securing year-round sports content.
- Collaboration with Activision for a movie adaptation of Call of Duty.
- Distribution of “High Side”, starring Timothée Chalamet and directed by James Mangold.
Ellison has also announced high-level hires, including Dane Glasgow as chief product officer, Makan Delrahim as chief legal officer, and Jay Askinasi as chief revenue officer.
Cost-Cutting and Streaming Consolidation
Ellison noted that Paramount Skydance plans to lay off roughly 2,000 employees this fall as part of a $2 billion cost-cutting initiative. The company is also consolidating three streaming platforms — Paramount+, Pluto TV, and BET+ — onto a single technology platform to reduce costs and improve content recommendations.
Bari Weiss Joins CBS News as Editor-in-Chief, Paramount Buys The Free Press for $150 Million
AI and Technology in Entertainment
On the topic of AI, Ellison emphasized responsible adoption in the entertainment industry. While acknowledging concerns around copyright protection, he stated:
“We’re gonna err on the side of partnering with technology, to do it in a way that we think is good for artists.”
Ellison sees AI as a tool to enhance creativity rather than replace artistic work.
What This Means for Paramount
While rumors of a WBD acquisition continue to swirl, Ellison’s comments suggest a measured approach to growth through both content expansion and strategic acquisitions. The moves indicate Paramount’s intent to solidify its position in film, television, sports, and digital media, while embracing technological innovation responsibly.