David Ellison "Confident" WBD Deal Will Close, Thanks Staffers For Patience

Key Points:

• Paramount Skydance CEO David Ellison expressed confidence that the merger with Warner Bros. Discovery (WBD) poses no legal issues and affirmed the intention to complete the deal despite ongoing litigation.
• The merger, initially expected to close in Q3, is currently paused due to a lawsuit led by California’s Attorney General and supported by 11 other states, as well as a separate lawsuit from the Writers Guild of America (WGA), both seeking to block the transaction on antitrust grounds.
• Paramount and WBD have agreed to bypass the scheduled preliminary injunction hearing and proceed directly to trial, with discussions on trial dates ongoing and a court update expected by July 31; the company has committed not to integrate operations until after the trial outcome or June 1, 2027.
• Regulatory approvals have been secured from 65 jurisdictions worldwide, including the European Union and the U.S. Department of Justice, but the UK’s decision is still pending, adding complexity to the merger’s approval process.
• Despite the legal challenges and uncertainty, Ellison emphasized that both companies continue to operate independently with a focus on serving audiences and executing their strategies, while integration planning proceeds cautiously under legal guidance.