Paramount is pledging to release more than 30 films theatrically annually if successful in its hostile takeover bid for Warner Bros. Discovery, according to Variety.
It’s presumably combining the output of Paramount and Warners in that figure as, a month ago, the new Paramount Skydance regime indicated they had planned for the theatrical release slate for Paramount on its own to grow to at least 15 movies annually.
Thus, the Warner side would aim to produce a comparable number – about the same as the 14 films annually that WBD currently targets. In a call with press and investors on Monday, Paramount also says it will honor “healthy traditional windows”.
Meanwhile, U.S. President Donald Trump lashed out at the Ellison-owned Paramount this morning following the Paramount-owned CBS News’ “60 Minutes” interview with former ally turned new nemesis Marjorie Taylor Greene. In a posting on Truth Social (via Deadline), he says:
“My real problem with the show, however, wasn’t the low IQ traitor, it was that the new ownership of 60 Minutes, Paramount, would allow a show like this to air. THEY ARE NO BETTER THAN THE OLD OWNERSHIP, who just paid me millions of Dollars for FAKE REPORTING about your favorite President, ME! Since they bought it, 60 Minutes has actually gotten WORSE! Oh well, far worse things can happen.”
Ellison reportedly made a personal appeal last week to WBD chief David Zaslav, saying (via The Australian Financial Review) in a note to Zaslav:
“David [sic], I appreciate you’re underwater today so I wanted to send you a quick text. Know, despite the noise of the last 24 hours, I have nothing but respect and admiration for you and the company. It would be the honour of a lifetime to be your partner and to be the owner of these iconic assets. If we have the privilege to work together, you will see that my father and I are the people you had dinner with.”
That last-minute plea reportedly came a few hours too late, with the WBD board meeting hours later to vote unanimously on choosing Netflix’s rival bid. The news outlet also has gone into the finances of Paramount’s bid and indicates that the Ellisons were providing only $US12 billion of the $US41 billion in equity to finance the deal.
A further $US24 billion is coming from three Middle East sovereign wealth funds and the remainder from US private equity fund RedBird and Jared Kushner’s Affinity Partners, along with a further $US54 billion in debt committed from Bank of America, Citigroup and Apollo.
