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Paramount’s new, hostile offer to Warner Bros. Discovery: Larry Ellison will personally guarantee $40 billion | CNN Business (www.cnn.com)

submitted 23 hours ago by StillPaisleyCat@startrek.website to c/quarks@startrek.website

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So, it will be Larry Ellison, not the Saudis, who will be putting up the additional $40 billion to win the hostile takeover of WBDiscovery over Netflix.

And he’s going to allow investors some greater visibility into the Ellison family trust.

As someone who respected the way Americans once took antitrust mechanisms and actions deeply seriously, this doesn’t give much comfort.

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[–] StillPaisleyCat@startrek.website 2 points 23 hours ago (1 children)

There is also this from David Ellison via The Hollywood Reporter:

“By uniting our iconic studios complimentary streaming platforms with a global footprint, our cable and linear networks, and our world-class IP, we have the opportunity to help shape the future and build a next generation media and entertainment company. This has been our goal since day one,” Ellison said Monday. “This is not about consolidation, it’s about reinventing the business. We want to expand our reach and enhance our ability to create the world’s most compelling stories and experiences. And we’re incredibly excited about this transaction, and it will accelerate that ambition.”

https://www.hollywoodreporter.com/business/business-news/david-ellison-talks-warner-bros-deal-comments-1236519395/

[–] Asafum@lemmy.world 5 points 23 hours ago (2 children)

That's a whole lot of words to say "I want control of what CNN says along with all the other media companies I'm buying."

[–] StillPaisleyCat@startrek.website 2 points 22 hours ago* (last edited 22 hours ago) (1 children)

Not sure. It’s his father Larry that is concerned about the news media.

It seems that David Ellison wants to control the entertainment industry and is willing to sacrifice every and any scruple he may have to get that, letting the news media be captured by whatever agenda in order to get what he wants.

Also, this way David is indisputably the victor in the succession competition that Larry set up between his offspring.

[–] ValueSubtracted@startrek.website 3 points 21 hours ago

David Ellison seems to genuinely love movies - I had high-ish hopes back when he was initially looking to buy Paramount for that reason.

Unfortunately, he also seems to be willing to trample over anyone and their grandmother in order to make those movies.

[–] Kirk@startrek.website 1 points 22 hours ago* (last edited 22 hours ago)

Do they think anyone is actually watching CNN? I know it's the enemy of the conservative movement, but I don't know a single person (Liberal, Centrist, Conservative pr otherwise) who would even entertain the idea of actively changing the channel to CNN and watching it.

CNN's primary viewership is doctor's office waiting room occupants. I have to assume conservatives are just so deep into their own lore that they actually believe CNN is influential at all.