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Netflix confirmed its six-year production partnership with David Fincher has concluded, ending an arrangement first signed in 2020 that gave the streamer exclusive rights to his films, including Mank and The Killer. The move follows similar endings to deals with other high-profile directors like Shawn Levy.
David Ellison, CEO of the newly combining Paramount and Warner Bros, announced on X that the $110 billion merged company will be called Skydance, after the studio he founded in 2006. The deal is expected to close this month after clearing its last regulatory hurdle in September, uniting HBO Max and Paramount+ along with franchises like Harry Potter, DC and Game of Thrones under one company.
Paramount CEO David Ellison announced the combined company will be called Skydance once its roughly $110 billion merger with Warner Bros. Discovery closes, expected October 6. The new entity will include Paramount+, HBO Max, CBS, CNN, MTV, TBS, Comedy Central and Food Network, along with franchises like 'The Lord of the Rings,' 'Game of Thrones,' the DC Universe and 'Yellowstone.'
Paramount and Warner Bros. Discovery's pending merger will result in a new parent company named Skydance, according to a statement from Skydance leadership. The company says Paramount and Warner Bros. brand identities will remain intact and continue operating under their own names, with Skydance serving as the corporate umbrella.
Mattel Inc. is bringing in a new chief executive, while Condé Nast and the newly merged Paramount-Warner Bros. are also undergoing leadership changes this week. Each company's incoming leadership is reportedly tied to experience in streaming media.
A federal judge approved Paramount's consent decree settling an antitrust lawsuit brought by 12 states over its proposed acquisition of Warner Bros. Discovery, removing the last major legal obstacle to the $81 billion deal. The merger is expected to close on October 6, and Paramount announced Mattel CEO Ynon Kreiz will join as co-CEO alongside David Ellison once the deal completes.
Paramount has appointed former Mattel chairman and CEO Ynon Kreiz as co-CEO, working alongside chairman and CEO David Ellison, ahead of the close of its $110 billion merger with Warner Bros. Discovery. Ellison will oversee long-term strategy, creative direction and partnerships, while Kreiz handles day-to-day management and integration of the combined companies; Kreiz starts October 5th. Separately, a judge approved Paramount's settlement with states that had been blocking the merger, and streaming chief Cindy Holland announced her departure.
Paramount has settled lawsuits from 12 states that sought to block its $110 billion merger with Warner Bros. Discovery. As part of the settlement, the combined company must spend at least $300 million more on US-produced film and TV projects and release a minimum of 30 movies per year for two years, rising to 32 annually for three more years, or pay $30 million per film shortfall into union healthcare and retirement funds.
Paramount has reached a settlement resolving the antitrust lawsuit filed by 12 state attorneys general that had stalled its $111 billion acquisition of Warner Bros. Discovery. The consent decree requires an editorial oversight board for CNN and CBS News, annual theatrical releases with added domestic production spending, and separate sale of cable bundles to distributors, but does not force Paramount to sell off its networks or studios. The agreement still needs court approval before the merger can proceed.
Paramount reached a settlement with a coalition of 12 state attorneys general, led by California's Rob Bonta, who had sued to block its $11 billion acquisition of Warner Bros. The company agreed to establish an editorial independence board overseeing CBS News and CNN, commit to 30 theatrical releases annually, and protect CBS News Broadcast writers from layoffs for five years while paying $17.5 million to the Writers Guild's health fund. The merger is now expected to close in early October, giving Paramount chief David Ellison control over franchises including DC and Harry Potter.
Paramount reached a settlement with a coalition of state attorneys general and the Writers Guild of America that had sought to block its $110 billion merger with Warner Bros. Discovery. The agreement includes commitments to produce more than 30 films annually and expand U.S.-based film production, addressing concerns raised about jobs and industry health.
The FCC has granted Paramount a waiver of its 25% foreign-ownership limit for broadcast licensees, allowing sovereign wealth funds from Saudi Arabia, Qatar and the UAE to collectively hold up to 49.5% equity in the merged Paramount-Warner Bros. Discovery entity. The commission says the funds will hold non-voting stakes, so they won't exercise formal control over the 28 broadcast stations involved. The underlying petition had actually requested approval for up to 100% foreign ownership.