David Ellison’s Paramount emerges as front-runner in Warner Bros Discovery takeover race
Paramount Skydance, led by David Ellison, has emerged as the leading contender to acquire Warner Bros Discovery (WBD) in what could become the media industry’s biggest merger in years.
Analysts say Ellison’s deep financial backing and political connections give him a clear advantage over rivals including Apple, Comcast, and Netflix. The tech scion, who completed his merger with Paramount in August, is now eyeing Warner Bros’ high-value assets — from HBO and Warner Bros Studio to its streaming service with over 120 million subscribers, News.Az reports, citing Reuters.
Ellison’s $60 billion offer was reportedly rejected earlier this week, but WBD remains open to talks. At a potential $74 billion valuation, based on a $30 per share estimate by Bank of America analyst Jessica Reif Ehrlich, the deal would be one of the largest in entertainment history.
While Apple and Netflix have shown limited appetite for large-scale acquisitions, Comcast could pursue select divisions, such as Warner Bros’ film studio and TV networks. Analysts believe other bidders may prefer buying parts of the company rather than taking on its $35 billion debt and struggling cable assets.
Paramount, however, appears ready to acquire Warner Bros in full. “It seems that Paramount is in pole position,” said PP Foresight analyst Paolo Pescatore.
Industry observers say Ellison’s family ties could also play a key role. His father, Larry Ellison, founder of Oracle and a close ally of U.S. President Donald Trump, may help smooth regulatory approval. “If anyone does buy the whole thing, it will need the administration’s blessing — and that’s where the Ellisons stand out,” noted Clea Bourne of Goldsmiths, University of London.
If successful, the takeover would mark a new chapter in Hollywood — consolidating two of the industry’s most powerful players under a single, fast-rising media dynasty.
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