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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 1 day 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 1 day ago (4 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 1 day ago (3 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 1 day ago* (last edited 1 day 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 1 day 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.

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