Paramount head David Ellison vows merger with Warner Bros won't reduce film output

Paramount Skydance CEO David Ellison promised the movie industry Thursday that a looming merger with Warner Bros Discovery would not impact either studio's film output.

The two companies formally signed a merger agreement in February, which will see Paramount acquire Warner Bros at $31 per share of the company, along with solutions to WBD’s debt financing costs.

Although the boards of both companies unanimously agreed to the merger, it still needs approval from the Federal Communications Commission and is facing pushback from Hollywood. Netflix was initially expected to acquire WBD.

Ellison promised that the acquisition would not hurt the industry as people fear because both Paramount and WBD would still be producing dozens of films each year, according to NBC News.

“I wanted to look every single one of you in the eye and give you my word: Once we combine with Warner Bros., we are going to make a minimum of 30 films annually, across both studios,” he told an audience at CinemaCon.

Ellison, the son of Oracle founder and billionaire Larry Ellison, emphasized his love for movies, claiming it is “one of our nation’s earliest art forms — and it is still one of our most powerful cultural exports.”

“The theatrical experience is also smart business: Nowhere else can you launch a multiplatform franchise that can grow and thrive for generations to come,” he said. “It’s good for the heart and ... it’s good for our business ... and, most importantly, it’s good for our people. And that is why I have dedicated the last 20 years of my life to elevating and preserving film.”

The CEO added that he was committed to the film industry and promised each film would remain in theaters for at least 45 days and then go to a streaming service in 90 days. 

Misty Severi is a news reporter for Just The News. You can follow her on X for more coverage.