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Skydance Secures Warner Bros. Discovery Deal
27 Feb
Summary
- Skydance aims to finalize Warner Bros. Discovery acquisition by fall.
- David Ellison cited legacy honoring and future vision in the deal.
- David Zaslav highlighted shareholder value and investor certainty.
Paramount Skydance is reportedly nearing the completion of its acquisition of Warner Bros. Discovery, with an ambitious goal to finalize the transaction by the fall. David Ellison, chairman and CEO of Paramount Skydance, issued a statement Friday, expressing a clear purpose behind the pursuit: to honor the legacy of both companies while accelerating a vision for a new era of media and entertainment.
Ellison further articulated that combining these studios, complementary streaming platforms, and their talent will create enhanced value for audiences, partners, and shareholders. Warner Bros. Discovery CEO David Zaslav echoed positive sentiment, noting the favorable outcome for WBD shareholders after a period where Netflix was also a contender in the bidding process.
Zaslav emphasized that the guiding principle throughout the acquisition discussions was to maximize the value of Warner Bros. Discovery's iconic assets and century-old studio, while providing investors with substantial certainty. He expressed anticipation for a smooth completion of this historic transaction with Paramount Skydance.
