๐ฒ Paramount Skydance seeks funding for WBD acquisition
David Ellison, owner of Paramount Skydance (which acquired Paramount Global this summer), is in negotiations with private investment funds to jointly purchase media giant Warner Bros. Discovery (WBD).
The deal’s value could exceed $60 billion.
Among the potential partners is the investment firm Apollo Global Management, which itself previously bid for Paramount.
Ellison’s intention seems particularly bold, given that WBD plans to split into two companies next year (Warner Bros. with studios and streaming, and Discovery Global with TV networks).
WBD CEO David Zaslav has reportedly stated he would prefer Netflix to buy the company.
Netflix co-CEO Greg Peters rejected this possibility, stating that they prefer to “build rather than buy” and expressing skepticism about large media mergers, which have “not had the most impressive success rate.”
Observers agree that Hollywood is awaiting another round of large-scale consolidation.
