PARAMOUNT MAKES MEGA-MOVE TO SEAL WARNER BROS. DEAL
David Ellison's company is ditching a major international partnership to convince Europe to greenlight the blockbuster merger.
Paramount Skydance is pulling the ultimate power move to win over nervous European regulators and make its Warner Bros. merger happen! According to THR Business and Deadline, the company is exiting United International Pictures—its joint distribution venture with Universal—to address antitrust concerns that cinema operators across Europe have been hollering about.
David Ellison, the Paramount Skydance honcho, is playing hardball to hit his September deadline for closing the massive deal. Deadline reports he's been actively schmoozing with UK officials, including the culture secretary, laying the groundwork for approval on the British side—which apparently holds the key to making this whole thing fly.
It's a savvy chess move: by ditching the UIP partnership, Paramount is essentially saying "we hear you, Europe" and removing one of the biggest sticking points regulators have had. Think of it as clearing the deck to get the green light on one of entertainment's biggest power plays. Stay tuned!
Sources · THR Business · Deadline