Paramount CEO David Ellison Fought for Warner Bros. Despite Netflix’s $82.7B Deal

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I’ve been following the situation with Warner Bros. Discovery closely, and it’s clear Paramount’s CEO, David Ellison, has been working incredibly hard to try and get a deal done. It was a big blow when Netflix swooped in and secured an $82.7 billion agreement last Friday, but I admire that Paramount isn’t giving up and is still staying in the running. It shows real determination!

I’ve been reading about how seriously Ryan Ellison wanted to buy Warner Bros. Discovery! Apparently, before Netflix made their move, he was actively trying to work out a deal with David Zaslav, the CEO of WBD, really trying to convince him to sell to him. It’s fascinating to see just how much effort he put into it.

Ellison and Zaslav met several times – including dinner with Ellison’s father, Larry, and a visit to Zaslav’s Beverly Hills home – to talk about the possibility of Paramount and Warner Bros. merging.

As a big believer in the future of entertainment, I was really excited when I heard that Barry Diller and his team were trying to make a deal to buy Warner Bros. Discovery for around $77.9 billion – that’s $30 a share. They didn’t just want to take over, though; they even offered Zaslav a top leadership position in a combined Paramount and Warner Bros. Discovery. Unfortunately, Warner Bros. Discovery’s board wasn’t interested and ultimately decided to partner with Netflix instead, which was a real disappointment.

The final offer from Paramount included a signed deal with guaranteed funding from both loans and the Ellison family. However, on December 4th, the Warner Bros. board decided not to even discuss the offer with Paramount. Instead, they agreed to a deal that was financially worse, had greater regulatory hurdles, and would likely take longer to finalize, despite having a $30 per share cash offer on the table that was simpler and faster to approve.

As a film buff, I’ve been following the Warner Bros. Discovery situation closely. It’s become clear that Larry Ellison feels the board wasn’t playing fair with him during talks, and now he’s decided to go straight for a takeover. He announced on Monday that he’s launching a hostile bid, taking the offer directly to shareholders. He told investors on a call that they deserve to know the full story and be able to decide for themselves, and that’s exactly what he’s giving them. He went on to explain…

We believe our offer is better than Netflix’s in every way – it offers a stronger financial return, a more reliable value, and greater clarity regarding regulations. It also benefits Hollywood, consumers, and promotes fair competition. We’re certain that when shareholders consider both options, they’ll choose Paramount.

Larry Ellison has been actively trying to reach David Zaslav. On December 4th, he texted Zaslav explaining that they had submitted a revised offer addressing Zaslav’s previous concerns. He requested a call to discuss the details. However, according to court documents filed by Paramount, Zaslav didn’t respond, and Ellison sent another message.

David, I know you’re busy, so I wanted to quickly reach out. When the board meets next, we’d like to present a proposal that addresses everything we discussed. Specifically, we’re offering complete financial security, a strong cash offer, and a fast closing timeline. Importantly, this isn’t our final offer. Despite everything happening recently, I have a lot of respect for you and the company. It would be a dream come true to partner with you and own these incredible assets. If we do work together, you’ll find that my father and I were the people you had dinner with. We’re committed to loyalty and integrity with our partners, and we hope to earn your trust. Best, David.

Paramount, Warner Bros. Discovery (WBD), and WBD’s CEO, Zaslav, didn’t respond to Larry Ellison’s proposals, shortly before Netflix announced it was buying Warner Bros. Discovery. However, Variety reported that Zaslav had previously considered merging WBD and Paramount, but these discussions took place in 2023 with Paramount’s then-CEO, Bob Bakish, before the Skydance/Paramount deal was proposed.

After Paramount made an offer to buy the company, Warner Bros. Discovery (WBD) stated it will take up to 10 business days to review the offer and will then share its decision.

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2025-12-09 19:51