David Ellison, CEO of Skydance, addressed reporters on Tuesday at Paramount Studios following a turbulent regulatory process and hostile bidding war with Netflix. During the press conference, Ellison expressed relief that the merger was finalized but acknowledged past apprehensions from critics. He emphasized the need to rebuild trust within Hollywood while criticizing traditionalists for resisting change, allowing tech companies like Netflix and Amazon to dominate the industry.
Written locally by qwen2.5:14b on 2026-10-07,
using this article's own text rather than the other coverage of the
same event (that is the story summary below).
Story summary
On Tuesday, Paramount officially merged with Warner Bros. Discovery, creating a new entity called Skydance Corporation for an estimated $110 billion, including debts amounting to around $80 billion. This consolidation combines two of America's oldest film studios and their streaming services like HBO Max and Paramount+, along with networks such as CNN and CBS News. The deal faced legal challenges from 12 U.S. states concerned about reduced competition and higher consumer costs but was ultimately approved after David Ellison promised to invest an additional $1.5 billion in domestic production over five years and release at least 30 high-quality theatrical films annually. Ellison, who will chair the new company alongside co-CEO Ynon Kreiz, emphasized the ambition to create a stronger competitor capable of delivering stories across all platforms.
Written for “Hollywood Mega Merger” on 2026-10-07,
grounded in this article and the 21 other(s) covering the same event.
Why this leaning score
The model judged this article politically coded and scored it +0.35, but all 2 of its quote(s) are attributed speech - words the article quotes from someone, not the article's own narration, so the score is not published.
Written under an earlier scoring contract, which gave a paragraph
rather than checkable quotes. Re-analysing this article replaces it.
Leaning score withheld for article 62958: attributed speech only · logged 2026-10-07
“I’m glad it’s over,” David Ellison’s said on Tuesday to a room of reporters.
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Ellison → ’m → reporters
The 43-year-old was perched on a stool at the front of a sound stage on the Paramount lot, dressed in a black blazer, blue T-shirt and jeans.
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old → perch → blazer
The hastily assembled press conference was supposed to be an opportunity to formally introduce the newly combined company, Skydance.
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conference → assemble → company
Whether it was the drawn-out regulatory process — which included a hostile bidding war with Netflix and a bruising antitrust lawsuit — or perhaps just the searing LA heat outside on Melrose, the mood inside was one of weary relief.
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mood → draw → relief
“This was a turbulent and at times an ugly process,” Ellison said.
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Ellison → say → times
“What I want to do now is turn the page.”
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want → want → page
But not before Ellison and his new co-CEO Ynon Kreiz answered some pressing questions.
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Ellison → answer → questions
We counted at least seven reporters from Penske Media publications including The Hollywood Reporter’s Borys Kit, Deadline’s Nellie Andreeva and Variety’s Matt Donnelly.
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We → count → Kit
Ben Fritz and Joe Flint were on hand from The Wall Street Journal as was CNBC’s Julia Boorstin, who was seated next to The Wrap’s Sharon Waxman.
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who → seat → Waxman
Ellison and Kreiz said that Warner Bros. and Paramount would maintain separate creative development and identities, (though whether they would compete for projects was unclear).
uncertain
compete → say → projects
They were non-committal on which of the two lots would emerge as the primary headquarters for the company’s leadership team, saying only that film will be centered on one lot, with TV and streaming on the other.
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film → emerge → other
(On Tuesday, Ellison also added “A Skydance Corporation,” to the famed Warner Bros. water tower.)
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Ellison → add → tower
Ellison did extend an olive branch to the detractors of the mergers, saying, “I really respect all the people that were apprehensive about this.
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that → extend → this
What I want to be able to do now is turn the page, and actually make sure that we are in the business of rebuilding trust
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we → want → trust
He also reiterated his plan to eventually merge HBO Max and Paramount+ into one streaming service, though not anytime soon.
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He → reiterate → service
The two will likely be offered as a subscription bundle first.
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two → offer → bundle
Perhaps the most controversial part came when he accused Hollywood of letting its guard down which allowed Silicon Valley interlopers like Netflix and Amazon to come in and take over the town.
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interlopers → come → town
“They held on to the past for too long.
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They → hold → past
It is a certainty that if you don’t disrupt your business someone else will do it.
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someone → disrupt → it
This is the solution to that problem,” he said.
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he → say → problem
Following the Q&A, reporters mingled (off the record) with Skydance senior leaders including film heads Dana Goldberg and Josh Greenstein, TV head George Cheeks, DC Studios co-chair Peter Safran and newly minted streaming boss Casey Bloys — who was the most popular of the senior leadership team based on the number of reporters who cued up to talk to him.
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who → follow → him
Skydance ended its first day of Wall Street stock trading down slightly, at $9.51 a share (it opened at $9.77), largely over questions about how the company plans to chip away at its nearly $80 billion in debt.
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company → end → debt
When asked by Bloomberg’s Dawn Chmielewski about how Skydance could service its debt while also honoring its commitment to spend $40 billion on content, Ellison handed the microphone to Kreiz.
uncertain
Ellison → ask → Kreiz
He summed up their strategy in five words: “We have a business plan,” he said.
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he → sum → plan
The Aporia
