Overview

• Paramount Skydance CEO David Ellison declined to confirm an offer at Bloomberg’s Screentime conference, saying there are a lot of actionable M&A options and framing any deal around boosting content output.
• Sources say Ellison has discussed financing with Apollo Global Management, while Blackstone examined a possible role but is not participating at this time.
• No formal proposal has been submitted, with Warner Bros. Discovery engaging Goldman Sachs to gauge alternatives as it targets a separation of studios/streaming and networks in 2026.
• Warner Bros. film chiefs Michael De Luca and Pam Abdy renewed their contracts, and industry insiders indicate David Zaslav would likely have at most a board or advisory role if a sale occurs.
• Netflix co-CEO Greg Peters publicly downplayed a WBD bid, and analysts warn WBD’s share gains from takeover speculation could reverse if an Ellison offer fails to materialize.