Even though Paramount has defeated Netflix in the bidding war for Warner Bros., the first meeting was reportedly 'turbulent' and did not go as hoped.
This article covers a developing story. Continue to check back with us as we will be adding more information as it becomes available.The first meeting between Paramount Skydance CEO David Ellison and Warner Bros.
Discovery was reportedly not smooth sailing. After Netflix seemingly defeated Paramount in the bidding war to acquire Warner Bros., Ellison continued to come forward with new offers, until Warner Bros. eventually accepted and Netflix stepped away. If the merger between Paramount and Warner Bros. is legally approved, it raises many questions about the future of the entertainment industry. Per a report from The Hollywood Reporter, during the first formal meeting between Paramount and Warner. Bros, an executive in attendance shares that it was "turbulent" and “There is still a tremendous amount of uncertainty over here. We were hoping for more.” Ellison provided assurances that there will not be mass layoffs as expected, but an individual at the meeting says, “We don’t believe him.” An insider who attended the meeting also noted that as opposed to the similar meeting in December where Netflix co-CEOs Ted Sarandos and Greg Peters spoke,"That felt more celebratory and there was a plan,” this exec says. “Here it was like … I don’t know. Just tell us what’s going on.” Ellison reportedly spoke enthusiastically about Paramount and Warner Bros. spending more on creating new content, along with reiterating promises of 30 theatrical movies released per year, merging Paramount+ and HBO Max, and keeping both studios on their lots, but did not provide the specifics that many were hoping for.
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