Ellison's $31 per-share bid for Warner Bros. Discovery
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- David Ellison made a $31‑per‑share all‑cash bid for Warner Bros. Discovery in February, drawing on financial backing from his father Larry Ellison and Middle‑East investors.
- Warner Bros. Discovery carries $79 billion in debt, which the article says can only be addressed by releasing movies theatrically rather than relying solely on streaming.
- David Ellison announced at CinemaCon a 45‑day theatrical window and a 90‑day SVOD window, promising to release at least 30 films per year if the merger closes.
- Paramount+ and HBO Max together are projected to have 172 million subscribers, positioning the merged entity against Netflix (325 M), Amazon Prime Video (200 M), and Disney+ (195 M).
- Ellison previously financed and helped rescue high‑budget films like Top Gun: Maverick and World War Z, showing his willingness to back costly productions.
- Industry critics (exhibitors, filmmakers, lawmakers) warn the merger could create a monopoly, eliminate jobs, and resemble a Disney‑Fox consolidation.
- The merged company is expected to have a market cap of $170 billion, potentially rivaling Disney.
Why it matters: The deal would give Paramount a $170 billion market cap and a combined 172 million streaming subscribers, positioning it as a direct rival to Netflix, Amazon and Disney, while Warner Bros. Discovery’s $79 billion debt could be mitigated through a mandatory theatrical release schedule.
