Paramount CEO David Ellison stated he is “highly confident” that the company will successfully merge with Warner Bros. Discovery, despite ongoing antitrust litigation and opposition from prominent actors. Ellison assured Paramount staffers that the company has complied with antitrust laws and has received clearance or no challenge from regulatory bodies and governments in 65 jurisdictions, including the European Commission, China, and South Korea.
Paramount agreed last Friday not to finalize the takeover until a court rules on whether the deal violates antitrust laws. The merger agreement is set to expire on June 4, 2027, if not completed by then. Ellison noted that without the lawsuit filed by 12 U.S. states, led by California, and a separate suit from the Writers Guild of America, the deal could have been completed in the coming weeks.
Meanwhile, actors Benedict Cumberbatch, Alan Cumming, and Benedict Wong have urged the UK government to block the proposed merger, arguing it would cause “immense harm on the British public.” In an op-ed published in “The Guardian,” the actors wrote to UK culture minister Lisa Nandy, stating that her intervention could be one of the most significant decisions for the UK film, television, and media industries in a generation. They warned that the $110 billion merger could lead to job losses, canceled productions, fewer commissioned films, and a reduction in risk-taking within the industry.
Nandy has indicated to the UK Parliament that she is “minded to intervene” in the takeover but has not yet made a final decision on whether to subject the merger to a full public interest probe. A conclusion is expected when Parliament reconvenes in September. The actors implored Nandy to block the merger to protect the industry and culture from consolidation, emphasizing the potential negative impacts on British film and TV crews, independent film financing, and news publication consolidation.
If approved, the merger would combine Paramount Pictures and Warner Bros. film studios, along with streaming services Paramount+ and HBO Max, and networks CBS and CNN. The European Commission previously approved the merger last week, albeit with certain conditions. The actors also expressed concerns that the deal would increase prices, decrease the number of films produced, and lower the quality of content for audiences.