What the Ellisons Will Command if Paramount Acquires Warner Bros.

In a significant development in the media and entertainment industry, Warner Bros. Discovery (WBD) has agreed to be acquired by Paramount Skydance in a deal valued at $110 billion. This acquisition, if approved by federal regulators, will bring a vast array of intellectual properties under the control of Larry and David Ellison. The deal includes a $7 billion termination fee should the merger not receive regulatory approval.

The acquisition follows Netflix's withdrawal from its bid to acquire WBD, leaving the Ellisons poised to gain control over a wide range of valuable assets. Paramount's recent merger with Skydance has already led to significant changes, including mass layoffs at CBS News, where Bari Weiss is spearheading a cultural transformation as the new editor in chief.

Among the properties that the Ellisons would control if the deal goes through is CBS, which houses popular programs such as "60 Minutes," "Tracker," "Matlock," "Survivor," and "Big Brother." Additionally, they would gain control over HBO and HBO Max, known for critically acclaimed series like "Game of Thrones," "The Wire," "Veep," and newer productions such as "The Pitt" and "The Gilded Age." HBO Max also serves as a distributor for the series "Heated Rivalry" outside of Canada.

CNN, despite experiencing a dip in ratings last year, remains a major player in the news industry and would also fall under the Ellisons' domain. The network is home to prominent figures such as John King, Kaitlan Collins, and Anderson Cooper, who recently announced his departure from "60 Minutes."

The acquisition would also include DC Comics, bringing iconic superheroes like Superman, Batman, and Wonder Woman under Paramount Skydance's control. The Harry Potter franchise, encompassing all eight films and an upcoming HBO series set for 2027, would also be part of the deal.

In addition to these properties, the Ellisons have a stake in TikTok, with Oracle holding a 15 percent share in its US operations. Paramount Skydance also owns the "Star Trek" franchise, which Dana Goldberg, co-chair of Paramount Pictures, has identified as a company priority.

Warner Bros. Studios, known for blockbusters such as "Barbie," "The Dark Knight," and "One Battle After Another," would be included in the acquisition. Comedy Central, which recently signed a lucrative deal with "South Park," and Avatar Studios, with exclusive streaming rights on Paramount+, are also part of the portfolio.

The acquisition extends to a variety of cable channels and networks, including the Food Network, HGTV, Discovery, TLC, OWN, Adult Swim, Showtime, TNT, and TBS. Other notable franchises that would be controlled by the Ellisons include "The Lord of the Rings," "Mission Impossible," and distribution rights to "Dune: Part Three."

This acquisition represents a major consolidation in the entertainment industry, potentially reshaping the landscape of media ownership and content distribution. The outcome of regulatory review will determine whether the Ellisons can proceed with their expansive control over these influential properties.