Paramount CEO David Ellison Can't Attend Senate Hearing on Warner Bros. Merger Because of Death in the Family
Variety • • entertainment
Key Points:
- Senator Cory Booker is holding a Senate hearing on Paramount Skydance's proposed $111 billion acquisition of Warner Bros. Discovery (WBD), but Paramount CEO David Ellison will not attend due to a family death.
- Paramount Skydance argues the merger is procompetitive and will increase content for theaters and streaming, aiming to challenge rivals like Netflix by expanding creative opportunities and theatrical releases.
- Booker and eight Democratic senators have raised concerns about political interference and requested Ellison's testimony and preservation of records related to the merger, but Paramount has not fully engaged with these oversight requests.
- Over 2,000 Hollywood professionals, including prominent actors, have signed an open letter opposing the merger, citing risks to the industry's integrity, independence, and diversity.
- The Senate hearing features speakers from the creative and legal communities, while the merger awaits shareholder approval on April 23 and regulatory review.
