Paramount circling Warner Bros. Discovery after rebuffed approach

David Ellison’s company could take plan to create a sprawling media conglomerate directly to shareholders

Posted Monday, October 13, 2025 11:35 am

Joe Flint and Lauren Thomas | The Wall Street Journal

A battle for the future of Warner Bros. Discovery is brewing.

Warner Chief Executive David Zaslav four months ago unveiled a plan to split the media giant into two, with its TV and movies studio and streaming business in one publicly traded company and its cable networks in another.

Now David Ellison, the son of billionaire Larry Ellison and chief executive of Paramount, is making a play for all of Warner before it splits.

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Paramount circling Warner Bros. Discovery after rebuffed approach

David Ellison’s company could take plan to create a sprawling media conglomerate directly to shareholders

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