David Ellison

Money Moves

Paramount agreed July 24 to halt closing until five days after a court ruling or June 1, 2027; deal faces roughly $7M/day in ticking fees after September 30, 2026 and legal challenges from 12 states and the WGA

Paramount Skydance won the WBD bidding war in February 2026 and cleared the DOJ and European Commission by July. The deal is now paused: a federal judge in Oakland issued a temporary restraining order on July 20 after a 12-state coalition led by California sued to block it.

Updated Jul 25

Rule Changes

Overseeing CBS News restructuring after merger completion

Three hours before airtime on December 22, CBS News killed a 60 Minutes investigation into Venezuelan migrants tortured in an El Salvador prison after Trump deportations. The segment had passed five screenings, legal review, and standards checks. New editor-in-chief Bari Weiss—appointed two months earlier when Paramount Skydance bought her media company for $150 million—demanded the piece include Trump administration comment or an interview with hardline advisor Stephen Miller. When the White House refused, she spiked it.

Updated May 16

Money Moves

Escalating hostile takeover attempts through litigation and board challenges; extended tender deadline to February 20

On December 5, 2025, Netflix announced a definitive deal to acquire Warner Bros.' film and television studios and streaming businesses, including HBO and HBO Max, valued at $72 billion in equity and $82.7 billion including debt. On January 20, 2026, the parties amended to an all-cash structure at $27.75 per share, with a shareholder vote expected by April 2026.

Updated May 10

Money Moves

Driving hostile $30/share tender offer to acquire all of WBD and supplant Netflix deal

After Netflix and Warner Bros. Discovery announced their $72 billion equity-value agreement on December 5, the transaction quickly became a live bidding contest and a regulatory test case. On December 8, Paramount Skydance launched an unsolicited all-cash tender offer at $30 per share to derail the Netflix deal and keep WBD intact, including networks slated for its Discovery Global spin-off. Within days, Netflix began a coordinated shareholder push backing its signed merger agreement and emphasizing regulatory execution, while WBD prepared formal filings to respond to the tender offer.

Updated May 9