David and Larry Ellison Paramount Skydance

 A Changing Media Landscape The global entertainment business is undergoing a dramatic shake-up. Under its new leadership, Paramount Skydance Corporation (often shortened to “Paramount”) — owned and guided by David Ellison and backed by his father, billionaire Larry Ellison — has launched a bold, hostile bid to acquire Warner Bros. Discovery (WBD), best known for studios behind major franchises like DC, HBO, and many more. explains who David and Larry Ellison are, how Paramount and Paramount Skydance came to be, what’s at stake in the takeover battle for Warner Bros., and what this could mean for the media and entertainment landscape worldwide.  

Who are David Ellison & Larry Ellison? David Ellison Born January 9, 1983, David Ellison is the son of Larry Ellison.  He founded Skydance Media in 2006 and led it for nearly two decades. Under his leadership, Skydance produced major films like Top Gun: Maverick, Mission: Impossible – Fallout, and other high-profile action and sci-fi titles.  In August 2025, following a major corporate merger, David Ellison became Chairman & CEO of Paramount Skydance Corporation — effectively putting him at the helm of one of Hollywood’s oldest and most storied media companies.  

Larry Ellison 

Larry Ellison is best known as co-founder of Oracle Corporation, one of the largest software/database firms globally. His wealth and influence as a tech pioneer have long been widely acknowledged.  While Larry Ellison doesn’t run Paramount day-to-day, he remains a major owner — a fact that gives the Ellison family considerable clout in major strategic decisions.  

In short: David Ellison brings Hollywood experience, and Larry Ellison brings immense financial backing and business muscle. Together they form the driving force behind Paramount Skydance’s recent moves.  

What is Paramount — and What is Paramount Skydance? Paramount — a historic entertainment brand The name “Paramount” traces back decades, representing a major Hollywood studio and media company. Over time it owned or controlled film studios, TV networks, and various media assets. Before 2025, a key controlling entity over Paramount was National Amusements — controlled by the family of media mogul Shari Redstone.  Paramount owned a broad portfolio: classic movie studio operations, TV networks, cable channels, streaming services — making it a multifaceted media business.  

The Rise of Paramount Skydance On July 7, 2024, a deal was announced: Skydance Media would merge with Paramount Global (the then-parent of Paramount’s media assets).  By August 7, 2025, after securing required regulatory approvals (from bodies including the U.S. Federal Communications Commission — FCC), the merger was completed, forming 

Paramount Skydance Corporation.  

As a result, Paramount is no longer under the Redstone-controlled National Amusements; it's now effectively controlled by Skydance (i.e., David Ellison and his financial backers).  David Ellison became Chairman & CEO, putting the Ellison family firmly in control of a rejuvenated Paramount.  

In essence: Paramount Skydance represents a modern reboot — combining Paramount’s storied legacy with Skydance’s recent successes and fresh leadership.  

The Hostile Takeover Bid: Paramount Skydance vs. Warner Bros. Discovery What sparked the fight? In late 2025, a bidding war erupted over Warner Bros. Discovery (WBD), the media giant behind major entertainment assets — including its studios, HBO, DC Comics, and many global networks.  Initially, Netflix struck a deal with WBD for roughly US$82.7 billion (cash + stock) to acquire WBD’s studios and streaming operations.  But days later, Paramount Skydance — under David Ellison — made a much larger, unsolicited all-cash offer: US$30 per share, valuing the company at roughly US$108.4 billion. That bid aimed to buy all of WBD — studios, streaming, and cable networks.  Why “hostile”? The offer came after WBD’s board had already agreed to the Netflix-led deal. Instead of negotiating with the board further, Paramount bypassed it and took the offer directly to WBD shareholders.  The bid is described as a “tender offer” — a classic takeover maneuver when the acquirer tries to persuade current shareholders to accept the offer, regardless of board endorsement.  

What’s on the table Paramount’s offer includes everything: studios, HBO, streaming platforms, cable networks like CNN, and other global networks.  Paramount argues its all-cash offer is better: more immediate value ($18 billion more in aggregate cash compared to Netflix’s offer), simpler structure, and a faster/less uncertain regulatory path.  

Paramount suggests 

that the Netflix deal — reliant on a mix of cash, stock, and complex division of assets — faces a “protracted multi-jurisdictional regulatory clearance process” and greater uncertainty.    Current Status: Stocks & Shareholders Following the announcement of the hostile bid, shares of Paramount Skydance (the new Paramount) rose — reflecting investor optimism about the takeover bid.  Shares of Warner Bros. Discovery also rose, likely because the higher bid increased the value of WBD for shareholders.  The takeover fight is not yet resolved. WBD’s board has maintained support for the Netflix deal — but WBD shareholders now have a decision to make. Paramount is betting that shareholders will take the higher-cash offer over the Netflix proposal.    Why This Matters: Stakes for Media, Creators & Consumers Consolidation of power: If Paramount succeeds, a massive swath of film studios, streaming services, cable networks, and global channels will come under a single umbrella — giving Paramount Skydance enormous influence in shaping entertainment globally. Potential content shake-up: With brands spanning Paramount classics, Skydance blockbusters, HBO, DC Comics, CNN, and more — the merged entity could control a huge library of content and future output. This could transform how films/TV are financed, produced, and distributed. Regulatory and antitrust concerns: Such consolidation may draw scrutiny. Mixing studios, streaming services, major TV networks and global media under one roof might provoke regulatory resistance, especially in markets worried about media concentration. Impact on industry competition: Independent content producers, other studios, and streaming platforms may face a reshaped competitive landscape. This could influence dealmaking, content strategies, and how media is priced or bundled.   Background: How Paramount Ended Up Here The merger between Skydance Media and Paramount Global ended decades of control by the Redstone family (via National Amusements).  The takeover of Paramount by Skydance — which culminated in August 2025 — was motivated by a desire to revitalize Paramount, invest in content and infrastructure, and adapt to changing media/streaming dynamics.  Under the prior regime, Paramount had struggled to keep up with streaming giants. The merger and leadership change with the Ellison family mark a turning point: a bet on consolidation, scale, and bold moves.    What Happens Next — What to Watch For Will WBD shareholders accept Paramount’s offer or stick with the Netflix deal? The decision will be crucial; if many accept Paramount’s bid, the takeover may succeed despite board resistance. Regulatory review: Even with an all-cash offer, a merger of this magnitude will likely face antitrust and media-ownership scrutiny — especially given the massive consolidation of assets. Integration plan: If the takeover succeeds, Paramount Skydance will need to integrate studios, streaming, cable networks, and more — a complex operational undertaking. Industry ripple effects: Other media companies, studios, and streamers will likely react — possibly exploring their own mergers/acquisitions, shifting strategies, or seeking niches to avoid direct competition.   A High-Stakes Gamble What’s unfolding is more than a corporate war — it’s a potential reshaping of global entertainment. Under David Ellison (with Larry Ellison’s backing), Paramount Skydance is betting that bigger is better: a media conglomerate that combines legacy film studios, global cable and streaming assets, and strong financial firepower. If successful, the takeover of Warner Bros. Discovery would mark one of the boldest media consolidations in recent history — transforming who controls what we watch, how content is financed, and how media companies compete. But it’s also a high-risk play, requiring shareholder approval, regulatory clearance, and seamless integration. The coming months — with shareholder votes, perhaps legal or regulatory challenges, and negotiations — will determine whether this vision becomes reality.