David Ellison speaks out after judge pauses Paramount-WBD mega-merger deal
Paramount head David Ellison strikes a confident tone in his memo amid legal setbacks
David Ellison, it seems, is unperturbed, as the Paramount and Warner Bros. Discovery mega-deal hit a legal snag after a judge ordered a pause to the merger following a coalition of U.S. states moving to court.
Showing his confidence, the 43-year-old said in his rousing memo to employees that, despite what he described as a roadblock, the mega-deal will move forward.
"We remain highly confident that this transaction does not pose any legal issues, and we will complete it and bring these two companies together," the statement read.
Ellison's memo comes after Paramount agreed to pause the merger for the antitrust lawsuit from 12 states to play out in court.
This means the industry-shaking deal is unlikely to be inked before 2027.
Regarding the decision to freeze the merger, Ellison said, “We believe this is the right path because the facts and the law are on our side, and a full hearing will demonstrate why the plaintiffs’ arguments should not prevail.”
Further, in the memo, Paramount's head honcho said, “I know this additional uncertainty has been challenging, and I want to thank you for your continued patience, commitment and collective contributions."
He continued, "For now, it remains business as usual. Paramount and WBD are separate companies operating independently, and our focus remains on serving our audiences, supporting one another and executing our strategy.”
Capping off his message, Ellison added a battle cry, writing, “Let’s go!."
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