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In a move that could dramatically reshape the media landscape, David Ellison’s Paramount is reportedly pursuing a takeover of Warner Bros. Discovery. The potential acquisition comes shortly after Skydance Media, founded by Ellison, completed its $8 billion merger with Paramount Global. Reports indicate Ellison is persistent, having already had previous offers rebuffed by the media giant.
The proposed deal would unite two of Hollywood’s most storied studios, marking the most significant industry consolidation since Disney's 2019 acquisition of 21st Century Fox. According to sources, the new bid for Warner Bros. Discovery would be a mostly cash offer, backed financially by Oracle co-founder Larry Ellison, David’s father. Such a merger would combine major assets, including the Paramount and Warner Bros. film studios, television networks like CBS and HBO, and streaming services Paramount+ and Max.
The aggressive expansion strategy has raised immediate concerns about its impact on the workforce and market competition. Following the Skydance-Paramount merger, significant layoffs are already anticipated across Paramount's divisions, with some reports suggesting up to 2,000 employees could be affected. A subsequent takeover of the much larger Warner Bros. Discovery would likely lead to even deeper job cuts as the new entity seeks to eliminate redundancies and reduce costs. Furthermore, the sheer scale of the combined company is expected to attract intense antitrust scrutiny from federal regulators.
Adding a unique political dimension to the potential deal is Ellison’s relationship with the Trump administration. Allies of the Paramount CEO believe his connection to President Trump could be a crucial advantage in navigating regulatory approval. This relationship is highlighted by a planned UFC event on the White House lawn, set for June 2026. According to Variety, the fight telecast is part of Paramount's new deal with the MMA league and is being personally spearheaded by Trump and UFC CEO Dana White. This perceived closeness to the White House is seen by some insiders as Ellison's strategic 'Trump card' in his pursuit of a Hollywood empire.
