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Item 1 of 3 The Warner Bros. Water Tower is pictured at Warner Bros. Studios in Burbank on the day it was announced that California and 11 states are suing to block Paramount's $110 billion acquisition of Warner Bros. Discovery in California, U.S. July 13, 2026. REUTERS/Daniel Cole/File Photo

[1/3]The Warner Bros. Water Tower is pictured at Warner Bros. Studios in Burbank on the day it was announced that California and 11 states are suing to block Paramount's $110 billion acquisition of... Purchase Licensing Rights, opens new tab Read more

CompaniesJuly 23 (Reuters) - Paramount Skydance (PSKY.O), opens new tab must pause its $110 billion acquisition ​of Warner Bros. Discovery (WBD.O), opens new tab through August ‌17, a federal judge ruled on Thursday.

The move gives Paramount Skydance more time to argue against ​a potential months-long pause while the ​case plays out. The company has said ⁠such a prolonged delay would plunge the ​deal into uncertainty and could cost it ​more than $1 billion.

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A California-led coalition of states have sued to block the deal, saying it would harm ​competition in film and television, hurting theaters ​and cable companies. The Writers Guild of America has ‌filed ⁠a separate lawsuit alleging the deal would decrease demand for screenwriting work.

U.S. District Judge Araceli Martínez-Olguín in Oakland, California, previously paused ​the deal ​through August ⁠3, when she would have held a hearing on whether to ​postpone the deal's closing for longer.

Paramount ​has ⁠asked for a three-day hearing in August where it can present evidence the deal ⁠bolsters ​competition before the judge decides ​on a longer pause.

Reporting by Jody Godoy in New ​York; Editing by Mark Porter and Deepa Babington

Our Standards: The Thomson Reuters Trust Principles., opens new tab

Jody Godoy reports on tech policy and antitrust enforcement, including how regulators are responding to the rise of AI. Reach her at [email protected]

, /PRNewswire/ -- The European Commission has today formally cleared the acquisition of Warner Bros. Discovery, Inc. (NASDAQ: WBD) ("WBD") by Paramount Skydance Corporation (NASDAQ: PSKY) ("Paramount"), representing a major milestone in completing the transaction in line with the publicly stated timeline.

Paramount has already received competition clearances from antitrust and competition authorities in the following jurisdictions: the United States, Australia, Brazil, Canada, China, Kuwait, Montenegro, New Zealand, North Macedonia, Saudi Arabia, Serbia, South Africa, South Korea, Ukraine, and the COMESA Competition Commission (the regional competition authority for the Common Market for Eastern and Southern Africa). Additionally, Paramount has received foreign direct investment clearances in Australia, Germany, France, Spain, Slovenia, Belgium, Czechia, New Zealand, Italy, and Romania. The transaction was also unconditionally approved by European Commission under its Foreign Subsidies Regulation regime and by the Austrian Federal Competition Authority under its media merger control regime.

With the clearance from the European Commission, bodies and governments representing 65 jurisdictions have either cleared the transaction or chosen not to challenge it on competition and/or foreign direct investment grounds.

These clearances recognize that the combination of Paramount and WBD will enhance consumer choice and enable a creative-first company to invest in more projects and bring stories to audiences worldwide. It will create a scaled media and entertainment company capable of competing with the tech companies that have come to dominate the industry, strengthening the media ecosystem and creating more opportunities for creatives both in front of and behind the camera.

The conclusions reached by the European Commission directly refute key assumptions that underpin the state AGs' complaint seeking to block the transaction. In its finding that "at film production level, enough film studios remain as competitors in the EEA", the European Commission correctly defined the market as including "smaller US studios such as Amazon MGM, A24 and Lionsgate, as well as European studios" in addition to "other major US studios like Disney, NBC Universal and Sony." The European Commission did not find that high-budget or 'blockbuster' films constituted a relevant market. It rather considered them as an element of differentiation in its competitive assessment, and found that the market will remain competitive for these types of films too. In coming to the conclusion that "as regards the AV value chain, the Commission's investigation showed that enough alternative competitors remain to exert sufficient competitive pressure on the merged entity in the EEA", the European Commission rightly considered streaming platforms as competing directly with linear TV. These conclusions further undermine the market definition relied upon by the state AGs in their complaint. 

"Today's approval from the European Commission marks another significant milestone in bringing Paramount and Warner Bros. Discovery together. We appreciate the Commission's constructive engagement and thorough analysis throughout its review," said Makan Delrahim, Chief Legal Officer, Paramount. "Not only does this combination not pose any competitive harms, it actually enhances competition by creating a scaled media and entertainment company with the ability to truly challenge the tech platforms that have come to dominate the industry. By strengthening competition it will support increased investment in content, expand opportunities for creatives and deliver greater choice for consumers. We are pleased that the European Commission, following its robust review, joins other bodies, including the United States Department of Justice, Australia's ACCC, Canada's CCB, Brazil's CADE, China's SAMR and South Africa, in concluding that this transaction does not harm competition and can proceed, further underscoring its potential to strengthen the global media and entertainment ecosystem."

The transaction brings together the two companies' complementary strengths to create more competition and support greater investment in storytelling and talent. Paramount has proactively made clear its plans and incentives for the combined company: to increase output to at least 30 high-quality films annually, each of which will receive a full theatrical release starting immediately; to continue licensing content to and acquiring content from third parties; and to preserve iconic brands with independent creative leadership.

***

About Paramount, a Skydance Corporation

Paramount, a Skydance Corporation is a next-generation global media and entertainment company, comprised of three business segments: Studios, Direct-to-Consumer, and TV Media. PSKY's portfolio unites legendary brands, including Paramount Pictures, Paramount Television, CBS, CBS News, CBS Sports, Nickelodeon, MTV, BET, Comedy Central, Showtime, Paramount+, Pluto TV, and Skydance Animation, Film, Television, Interactive/Games, and Paramount Sports Entertainment.

PSKY-IR

Cautionary Note Concerning Forward-Looking Statements

This communication contains "forward-looking statements" regarding the Merger. The reader is cautioned not to rely on these forward-looking statements. These statements are based on current expectations of future events. If underlying assumptions prove inaccurate or known or unknown risks or uncertainties materialize, actual results could vary materially from the expectations and projections of PSKY or WBD. Risks and uncertainties include, but are not limited to: the risk that the closing conditions for the Merger will not be satisfied, including the risk that clearances under applicable antitrust or regulatory laws will not be obtained; the possibility that the transaction will not be completed in the expected timeframe or at all; potential adverse effects to the businesses of PSKY or WBD during the pendency of the transaction, such as employee departures or distraction of management from business operations; the risk of stockholder litigation relating to the transaction, including resulting expense or delay; the potential that the expected benefits and opportunities of the Merger, if completed, may not be realized or may take longer to realize than expected; risks related to PSKY's streaming business; the adverse impact on PSKY's advertising revenues as a result of changes in consumer behavior, advertising market conditions and deficiencies in audience measurement; risks related to operating in highly competitive and dynamic industries; the unpredictable nature of consumer behavior, as well as evolving technologies and distribution models; risks related to PSKY's decisions to invest in new businesses, products, services and technologies, and the evolution of PSKY's business strategy; the potential for loss of carriage or other reduction in, or the impact of negotiations for, the distribution of PSKY's content; damage to PSKY's reputation or brands; losses due to asset impairment charges for goodwill, content and long-lived assets, including finite-lived intangible assets; liabilities related to discontinued operations and former businesses; increasing scrutiny of, and evolving expectations for, sustainability initiatives; evolving business continuity, cybersecurity, privacy and data protection and similar risks; challenges in protecting and maintaining PSKY's intellectual property rights; domestic and global political, economic and regulatory factors affecting PSKY's businesses generally; the inability to hire or retain key employees or secure creative talent; disruptions to PSKY's operations as a result of labor disputes; risks and costs associated with the integration of, and PSKY's ability to integrate, the businesses of Paramount Global and Skydance successfully and to achieve anticipated synergies; litigation relating to the transactions contemplated by the transaction agreement entered into on July 7, 2024, between Paramount Global and Skydance, potentially resulting in substantial costs; volatility in the price of PSKY's Class B common stock; the effect PSKY's dual-class capital structure and the concentrated ownership may have on the price of its Class B common stock or business; risks related to a private sale of a controlling interest in PSKY, including that PSKY's stockholders may not realize any change of control premium on shares of PSKY's Class B common stock and that PSKY may become subject to the control of a presently unknown third party; risks associated with PSKY's status as a "controlled company" under Nasdaq rules, including its exemption from certain corporate governance requirements; risks associated with the lack of voting rights of PSKY's Class B common stock; risks that anti-takeover provisions in PSKY's amended and restated certificate of incorporation (the "Charter") and amended and restated bylaws, and under Delaware law, could deter, delay, or prevent a change of control; risks that exclusive forum provisions in the Charter could limit a stockholder's choice of forum for certain claims and discourage lawsuits against PSKY's directors and officers; risks that corporate opportunity provisions in the Charter could permit certain persons to pursue competitive opportunities that might otherwise be available to PSKY; risks associated with PSKY's holding company structure, including its dependence on distributions from its subsidiaries to meet tax obligations and other cash requirements; risks related to PSKY's indebtedness, including PSKY's substantial outstanding debt obligations; risks related to PSKY's ability to incur substantially more debt and PSKY's ability to meet the financial and other covenants contained in the agreements governing PSKY's indebtedness; risks relating to PSKY's ability to deleverage the business in accordance with management's targets, including risks arising from assumptions, uncertainties and contingencies that may affect PSKY's ability to reduce indebtedness; risks relating to management's ability to execute on its strategic plan and improve its financial profile and cash flows from operations; and risks relating to any capital or other financing PSKY may have to raise in order to reduce its indebtedness following the Merger. A further list and description of these risks, uncertainties and other factors and the general risks associated with the respective businesses of PSKY and WBD can be found in PSKY's Annual Report on Form 10-K for the fiscal year ended December 31, 2025, filed with the SEC on February 25, 2026, and PSKY's Form 10-Q for the quarterly period ended March 31, 2026, filed with the SEC on May 4, 2026, including, in each case, in the sections captioned "Cautionary Note Concerning Forward-Looking Statements" and "Item 1A. Risk Factors," and PSKY's subsequent filings with the SEC, and WBD's Annual Report on Form 10-K for the fiscal year ended December 31, 2025, filed with the SEC on February 27, 2026, and WBD's Form 10-Q for the quarterly period ended March 31, 2026, filed with the SEC on May 6, 2026, including, in each case, in the sections captioned "Cautionary Note Concerning Forward-Looking Statements" and "Item 1A. Risk Factors," and WBD's subsequent filings with the SEC. Copies of these filings, as well as subsequent filings, are available online at www.sec.gov, ir.wbd.com or on request from PSKY or WBD. PSKY undertakes no obligation to update any forward-looking statement as a result of new information or future events or developments, except as required by law. 

SOURCE Paramount Skydance Corporation

21.7.2026 08:41, WBD, PSKY

Federální soudkyně Araceli Martínez-Olguín dočasně pozastavila plánované převzetí společnosti Warner Bros. Discovery firmou Paramount Skydance v transakci v celkové hodnotě 110 mld. USD. Podle soudkyně dohoda „pravděpodobně" porušuje antimonopolní právo.

Společnosti musí s dokončením vyčkat po dobu 14 dní, přičemž Paramount a Warner Bros. doufaly, že dohodu uzavřou již 22. července. Skupina dvanácti amerických států v čele s Kalifornií podala minulý týden antimonopolní žalobu. O tom, zda se pozastavení prodlouží až do konce soudního sporu, rozhodne soudkyně na slyšení naplánovaném na 3. srpna.

Zdržení může být pro Paramount Skydance nákladné. Od 30. září by musel platit akcionářům Warner Bros. Discovery denní poplatek 7 mil. USD. Prohra u soudu by navíc mohla celý obchod zmařit a přinutit firmu uhradit sedmimiliardový poplatek za zrušení transakce. Paramount přitom měl uzavření dohody na dosah, poněvadž už získal souhlas amerického ministerstva spravedlnosti a schválení evropských regulátorů se očekávalo právě 22. července.

Akcie Warner Bros. Discovery a Paramount Skydance Akcie Warner Bros. Discovery (WBD) včera oslabily o 3,76 % na 25,86 USD, akcie Paramount Skydance (PSKY) odepsaly 2,06 % na 8,57 USD.

Zdroj: Bloomberg

Michal Bárta
Fio banka, a.s.
Prohlášení

Rob Bonta is leading California and 11 other states in a lawsuit against David Ellison's Paramount Skydance. Sarah Reingewirtz/MediaNews Group/Los Angeles Daily News via Getty Images; Patrick T. Fallon/AFP via Getty Images Rob Bonta, California's attorney general, says it's not his job to protect Hollywood giants from the rise of Netflix and other streaming insurgents.

This week, Bonta and 11 other attorneys general sued Paramount Skydance to stop its deal to buy Warner Bros. Discovery. Paramount says it needs the deal to compete with tech giants in streaming and transition to a new media model.

Bonta told Business Insider that's irrelevant to his antitrust case.

"We're indifferent to — I guess, from a legal perspective — what markets are growing, which ones are shrinking," Bonta said in an interview. "Maybe the theater market is shrinking, the cable market is shrinking, the streaming market is growing. We don't have a specific opinion on that in this case. And we're not trying to help one grow or stop one from shrinking."

Bonta said his suit focuses on how Paramount's WBD deal could affect market concentration in three areas: distribution of wide-release movies, distribution of big-budget blockbuster films, and licensing of cable channels.

Bonta argues that buying WBD would give David Ellison's Paramount too much power over theater owners, pay-TV distributors, and — by extension — consumers. He's seeking a preliminary injunction, or a temporary court order to pause the Paramount-WBD transaction.

"They'll be able to dictate terms with the theaters," Bonta said. "They'll be able to ask for more money. The theaters will have to pay more. That means raised costs for moviegoers."

Paramount says its merger would create "a stronger competitor against dominant streaming and technology platforms who have harmed the market for theatrical exhibition and jobs in the entertainment industry."

Bonta believes controlling Paramount Pictures and Warner Bros. Studios would make Ellison's company too powerful.  Mel Melcon / Los Angeles Times via Getty Images Bonta said that his lawsuit isn't about the streaming business and said Paramount's point about tech giants like Netflix and Amazon is a "distraction and a deflection."

"The streaming market is not one of the markets that we've identified as a market that will create so much market concentration by the merger that it will be unlawful under the Clayton Act," Bonta said. He added that Ellison and company "want Netflix to be the black cat, but Netflix is not part of our case."

A supercharged Paramount-WBD would control HBO, CBS, and CNN; streamers HBO Max, Paramount+, and Pluto TV; TV networks like TNT, HGTV, and Comedy Central; and two major film studios in Paramount Pictures and Warner Bros. Studios.

Star actors and directors like Ben Stiller have also spoken out against the deal, which the US Department of Justice has already approved, warning that the tie-up would result in "fewer opportunities for creators."

Corey Martin, a lawyer who's chair of the entertainment finance practice at Los Angeles-based Granderson Des Rochers, told Business Insider that Bonta's decision to exclude streaming from the market concentration calculation was a "novel approach."

"It's hard to envision this deal in its totality without considering streaming," Martin said, given that "streaming is the driver for the deal."

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Media Warner Bros.

California and 11 states are suing to block Paramount's $110 billion acquisition of Warner Bros. Discovery , alleging the deal would lessen competition in film distribution ​and cable television, harming theaters and pay TV distributors.

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Paramount Skydance CEO David Ellison's goal of buying Warner Bros. Discovery just hit a snag. Jeff Bottari/Zuffa LLC; Dania Maxwell / Los Angeles Times via Getty Images Paramount Skydance's plan to buy Warner Bros. Discovery is running into resistance.

State attorneys general from California, New York, New Jersey, and nine other states have sued David Ellison's media company, alleging its WBD deal is anticompetitive and harmful to consumers.

"The unlawful merger of these two entertainment behemoths would lead to higher prices, lower quality, and less content for film and television, harming movie theaters, basic cable distributors, and ultimately, audiences on every sofa and movie theater seat in the US," California attorney general Rob Bonta said in a statement.

Bonta continued: "Consolidation here not only leads to higher prices — it also leads to fewer opportunities for important stories to come to life, and fewer ways for audiences to encounter stories, ideas, and perspectives beyond their own experiences."

The lawsuit focuses on theatrical film distribution, claiming that the combination would account for about 27% of that market. Together, Bonta said Paramount-WBD, Disney, Universal, and Sony would control about 86% of the theatrical distribution market, including the lion's share of top-grossing blockbuster films.

Outside movies, the lawsuit highlights the Paramount-WBD tie-up's potential influence over the market for cable channels.

This lawsuit was widely expected. Bonta said before the deal was official that his office would give any proposal to buy WBD "a very close look."

Ross Benes, a senior analyst at Business Insider sister company EMARKETER, said that the states' lawsuit was unlikely to stop the deal.

"With regulatory agencies gutted, state AGs are provided an easy political win by going after Paramount," Benes said. "Their success in stopping the merger appears unlikely because they do not have federal jurisdiction and the Trump administration effectively controls all branches of government."

Paramount wants to buy WBD ASAPBuying WBD would make Paramount a Hollywood superpower by giving it control of the Warner Bros. Studio, HBO, HBO Max, and TV networks like CNN. Ellison already has Paramount Pictures, the Paramount+ and Pluto TV streamers, the CBS broadcast network, and cable channels like MTV.

Paramount has been hoping to fast-track its WBD acquisition, as the company has agreed to pay WBD shareholders about $7 million each day that the deal doesn't close, starting after September 30.

Donald Trump's Department of Justice approved Paramount's WBD deal in mid-June, stating that the transaction was "not likely to result in harm to competition or American consumers" in streaming, pay TV, or movie production and distribution.

European regulators are reviewing Paramount's plan to acquire WBD and have already secured concessions, including Paramount exiting the United International Pictures joint venture with Comcast's Universal Pictures. The European Commission now has until July 22 to review the updated proposal.

Top Hollywood stars, including Ben Stiller and Mark Ruffalo, have spoken out against the deal, saying in a joint statement that it would "further consolidate an already concentrated media landscape" and result in "fewer opportunities for creators, fewer jobs across the production ecosystem, higher costs, and less choice for audiences in the United States and around the world."

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Media Warner Bros.

A group of state attorneys general is expected to file a lawsuit as soon as Monday challenging Paramount Skydance's proposed acquisition of Warner Bros. Discovery, CNBC's David Faber reported.

The lawsuit, which will be brought by a group including California Attorney General Rob Bonta, is expected to try to block the merger on antitrust grounds, Faber reported.

The deal would combine two storied film studios — Paramount and Warner Bros. — as well as streaming platforms Paramount+ and HBO Max. Paramount CEO David Ellison has previously said the streaming services would become one following the merger.

It would also mean the formation of the largest portfolio of TV networks in the U.S., bringing together Paramount's broadcast network CBS and pay TV channels like MTV and BET with WBD's CNN, TNT and others.

The merger won approval from WBD shareholders in April, and Ellison said in a recent earnings call that it was on track to close by September.

The deal came under scrutiny from lawmakers in both the U.S. and Europe, including related to foreign funding that was part of Paramount's offer. In mid-June, the U.S. Department of Justice signed off on the tie-up, clearing it of federal antitrust concerns.

"The Division has completed its analysis of the proposed merger of Paramount and Warner Bros. and determined based on the evidence received in its investigation that the transaction is not likely to result in harm to competition or American consumers," the department said in its determination.

The merger has also won approval from several global jurisdictions as it moves toward a potential close.

However, the the European Union is still reviewing the deal for approval , with a new provisional deadline set for July 22. The European Commission said in a public filing this month that Paramount has submitted concessions in a bid to smooth over concerns regarding the deal.

Hollywood has previously expressed concerns about the combination, citing the likelihood for fewer film releases and the potential for job losses in the industry. Ellison has promised that once combined the film studios would put out a slate of 30 movies per year and has said he's committed to protecting jobs.

Ellison first set his sights on WBD last September. Just weeks after Paramount and Ellison's Skydance completed its merger, the company made its initial run for WBD, resulting in several bids and a formal sale process.

WBD ultimately signed a deal to sell its film studio and streaming assets to Netflix. However, Paramount launched a hostile takeover offer and subsequently amended its bid. Netflix ditched its deal, and Paramount walked away with an agreement to buy the entirety of WBD for $31 per share.

Paramount Skydance's (PKSY) plans to merge with Warner Bros. Discovery (WBD) face regulation roadblocks, causing shares in the former to fall.

9.7.2026 19:07

Po volatilním průběhu v předchozím dni jsou dnes americké indexy nakonec vytaženy do zelených čísel. Převážně jsou podpořeny sektorem AI, který předchozí den nejvíce ztrácel. Strach z geopolitické eskalace na blízkém východě se postupně během dne vytrácel a trh toto riziko z části absorbuje. Je to hlavně díky poklesu cen ropy. O to se postaral prezident Trump, který sdělil, že americká strana byla kontaktována Íránem s tím, že se chtějí dohodnout po dalších amerických úderech. Černé zlato tak ustoupilo ze včerejších zisků a WTI padá o -2,11 %. Zároveň se investoři začínají soustředit na blížící se výsledkovou sezonu a tento okolní geopolitický ruch krapet odsouvají do ústraní.

Nejvíce rostoucím sektorem jsou tedy dnes technologie, a to konkrétně sektor AI. Již nějakou dobu je na trhu viditelné přelévání kapitálu mezi takzvanými hyperscaleři a čipovými společnostmi. Dnes to jsou čipové firmy, které se těší vyšší poptávce. Příkladem mohou být společnosti AMD +6,65 % a Micron +7,22 % či volatilnější ARM +11,11 %.

Z očekávaných výsledků se příliš netěšili investoři společnosti Pepsi (-3,29 %), která představila smíšené výsledky. Nepotěšils především čísla zisku EPS, přestože tržby byly nad odhady.

Uklidnění na trhu svědčí i cenným kovům, kde zlato přidává +1,34 % a stříbro dokonce +3,7 %. Lehce v zisku se drží i kryptoměny. Jejich hlavní zástupce Bitcoin přidává +0,98 %.

Index Dow Jones +0,3 % na 52507,56 b.
S&P 500 +0,68 % na 7533,74 b.
Nasdaq Composite +0,99 % na 26126,03 b.

Index S&P 500 +0,68 % na 7533,74 b. Nejsilnější sektory S&P Změna Nejslabší sektory S&P Změna Informační technologie +1,7 % Nezbytná spotřeba -1,6 % Finanční sektor +1,1 % Energie -1,4 % Zbytná spotřeba +0,8 % Komunikační služby -0,8 % Nejsilnější akcie S&P Změna Nejslabší akcie S&P Změna Lumentum Holdings (LITE) +12 % Paramount Skydance Corp (PSKY) -4,6 % Sandisk Corp (SNDK) +9,2 % APA Corp (APA) -4,2 % Flex (FLEX) +7,7 % Costco Wholesale Corp (COST) -4,1 % Norwegian Cruise Line Holdings (NCLH) +7,4 % Palantir Technologies (PLTR) -3,7 % Lam Research Corp (LRCX) +7,2 % McKesson Corp (MCK) -3,6 %
Jan Pazourek, Fio banka, a.s.

Paramount Skydance CEO David Ellison speaks during the Bloomberg Screentime conference in Los Angeles on October 9, 2025.

AFP via Getty Images

When I wrote at the end of last year that Paramount Skydance CEO David Ellison's pursuit of Warner Bros. Discovery would likely make him the next Rupert Murdoch, both media titans already shared plenty of similarities.

They’re each second-generation media entrepreneurs, for example, who turned family fortunes into sprawling empires. Murdoch’s key moment came during the early days of cable TV, while Ellison’s era is dominated by streaming, AI, and consolidation plays.

To that latter point, as Paramount's proposed takeover of WBD gets closer to the finish line, the comparison between both men gets even harder to miss.

Once the deal closes, Ellison won’t just be running another Hollywood studio. He’ll be in charge of a media portfolio that spans movies, TV, streaming, news, sports and gaming. The kind of Murdoch-ian collection of assets, in other words, that few executives have ever had under their purview at one time.

The scale of David Ellison’s media empireThere’s one detail that underscores the scale of the merger all by itself: Paramount Pictures and Warner Bros. Pictures—two studios that stretch back more than 100 years, all the way back to the golden age of Hollywood—will both live on the same balance sheet. On that same note, the combined Paramount-WBD would also encompass New Line Cinema, DC Studios, Paramount Animation, Warner Animation Group and Ellison's own Skydance Media.

Streaming, meanwhile, will also give Ellison a big lineup of brands. The company will own HBO Max, Paramount+, Pluto TV, Discovery+, BET+ and a collection of smaller streamers that range from premium subscription platforms to free ad-supported TV.

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“By uniting the iconic, basically, libraries of Paramount and the iconic libraries of Warner Brothers, we now have a library of 15,000 films,” Ellison said in a March CNBC interview. “When you put Paramount+ and HBO MAX together, you get to over 200 million basically gross subscribers ... That puts us in an incredible position to really be able to win in the content space.”

From HBO Max and CNN to CBS NewsIts television holdings will be just as substantial. Along with CBS, the merged company will include channels like HBO, TNT, TBS, HGTV, the Food Network, Discovery Channel, Cartoon Network, Adult Swim, Comedy Central, MTV, Nickelodeon and BET.

Ellison will also oversee both CNN and CBS News, including its crisis-hit show 60 Minutes, along with CBS Sports and TNT Sports. Paramount will likewise control rights to the NFL, NCAA March Madness, Big Ten football and basketball, SEC football and basketball, the NHL, and PGA Tour events.

And all that’s even before you get to the intellectual property.

The company's catalog will be, in a word, enormous. It’s set to include everything from Batman to Superman, Wonder Woman, Harry Potter, The Lord of the Rings, and Game of Thrones, plus franchises like Mission: Impossible, Top Gun, Transformers and Star Trek. On the TV side, the merged company’s properties will include staples like Friends, The Big Bang Theory, NCIS, Survivor, CSI and South Park.

For now, though, the deal still has some final challenges to sort through.

European regulators confirmed in recent days that Paramount has offered concessions to address competition concerns. Barring any unexpected regulatory hiccups, the merger is expected to close sometime in the third quarter of 2026.

Once the remaining approvals come together, Ellison will find himself running one of the biggest and most culturally influential media companies in the world.

Murdoch, of course, spent decades building his influence through News Corp. and Fox across newspapers, TV, sports and Hollywood. Ellison is getting there via a much different route, but the end result is still the same: Control of one of the few media portfolios with the power to shape what audiences around the world watch every day.

A US Department of Justice (DOJ) investigation into the proposed Paramount Skydance acquisition of Warner Bros Discovery (WBD) has determined the merger is not likely to harm competition in the industry or be harmful to consumers.

The $81 billion acquisition by Paramount still requires approval from European regulators.

The Justice Department approved Paramount Skydance’s $111 billion takeover of Warner Bros. Discovery on Friday.

Federal antitrust regulators cleared the blockbuster media merger without demanding a single concession, Politico reported.

They refused to require divestitures, which force merging companies to sell off specific assets to preserve market competition, according to the outlet.

Paramount CEO David Ellison sat for a two-hour grilling with the DOJ antitrust unit, according to Politico. Chris Pizzello/Invision/AP The feds also skipped asking for so-called behavioral remedies, an anti-trust legal term for conditions that dictate exactly how a newly formed corporation must operate.

The combined empire now houses Paramount, CNN, Warner Bros. Pictures and the HBO Max streaming service under one roof.

Paramount CEO David Ellison secured the approval after a two-hour grilling by antitrust attorneys three weeks ago, Politico reported.

His father, Oracle co-founder Larry Ellison, maintains a close alliance with President Donald Trump and the federal blessing ends a key hurdle for the new media giant. The deal still needs sign-off by European Union and UK regulators, two key markets.

Paramount beat Netflix in the bitter bustup to take control of Warner Bros. Discovery earlier this year. Christopher Sadowski Paramount says the massive combination gives it the firepower to battle tech giants in the streaming wars.

The company expects the deal to generate $6 billion in savings achieved by eliminating overlapping operations.

Paramount executives claim those operational tweaks will largely spare the workforce, but Hollywood unions have disputed the contention.

Entertainment workers fear the massive consolidation will trigger devastating industry layoffs, while labor leaders warn the merger hands too much power to a single giant and shrinks opportunities for creators.

The deal still faces a potentially significant legal threat. States including New York and California are readying to sue to block the merger, according to Reuters.

Earlier this year, Paramount staved off a rival bid from Netflix for Warner Bros.

Paramount executives accused Netflix of funding a “scorched-earth” lobbying campaign to sink the deal, an allegation the streaming giant denied.

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The Six-Year Deal Delivers All UFC Numbered Event Main Cards Exclusively to Paramount+ Subscribers Nationwide

TORONTO--(BUSINESS WIRE)--Paramount, a Skydance Corporation (NASDAQ: PSKY), and UFC, the world’s premier mixed martial arts organization, today announced an expansion of their media rights partnership that makes Paramount+ the exclusive home of UFC Numbered Event main cards in Canada for the next six years beginning in 2027.

UFC Numbered Events (traditionally known as Pay-Per-Views) typically feature championship bouts on the main cards and showcase UFC’s biggest stars. This new partnership with Paramount will provide UFC fans across Canada with exclusive access to all 13 marquee UFC Numbered Event main cards live, at no additional cost to Paramount+ subscribers. This announcement expands on Paramount’s landmark seven-year, multi-territory UFC media rights partnership announced in 2025, and reaffirms Paramount+ as the premier destination for UFC fans in North America, Latin America and Australia*.

“Beginning in 2027, Paramount+ subscribers in Canada will get every UFC Numbered Event main card live, at no additional cost,” said UFC President and CEO Dana White. “Paramount has been an incredible partner that understands the power of UFC, and together we’re going to make it easier than ever for fans in Canada to watch the biggest fights in the sport. I love Canada and I’m very excited for the fans to be able to enjoy the Paramount experience.”

"UFC is one of the most dynamic live sports properties in the world and we are thrilled to bring Paramount+ subscribers in Canada into the Octagon in 2027 for no additional cost,” said Rodrigo Mazón, Paramount+’s Head of Direct-To-Consumer in Latin America and Canada. “Expanding our partnership into Canada lets us serve a deeply engaged MMA audience, while reinforcing what Paramount+ is built for: premium live sports and globally relevant entertainment."

Details on the first UFC events to stream live on Paramount+ in Canada will be announced later this year.

The debut of UFC on Paramount+ in the U.S. and Latin America earlier this year was the service’s biggest exclusive live event in history. To date, over 10 million households have watched more than 100 million hours of UFC programming on Paramount+—delivering viewership more than 15x the average pay-per-view event over the past two years.

Since debuting in Canada with UFC 83 in 2008, UFC has held 37 premier sporting events across 11 cities in the Great White North. Canadian cards have featured legendary athletes like Georges St-Pierre, Jon Jones, Jose Aldo, Valentina Shevchenko and Max Holloway.

About UFC®

UFC® is the world's premier mixed martial arts (MMA) organization, with more than 700 million fans and approximately 363 million social media followers. The organization produces more than 40 live events annually in some of the most prestigious arenas around the world, while distributing programming to an estimated 1 billion broadcast and digital households across 210 countries and territories. UFC's athlete roster features the world's best MMA athletes, representing more than 75 countries. The organization's digital offerings include UFC FIGHT PASS®, one of the world's leading streaming services for combat sports. UFC is part of TKO Group Holdings (NYSE: TKO) and is headquartered in Las Vegas, Nevada. For more information, visit UFC.com and follow UFC at Facebook.com/UFC and @UFC on X, Snapchat, Instagram, and TikTok.

About Paramount, a Skydance Corporation

Paramount, a Skydance Corporation (Nasdaq: PSKY) is a leading, next‑generation global media and entertainment company, comprised of three business segments: Studios, Direct-to-Consumer, and TV Media. The Company's portfolio unites legendary brands, including Paramount Pictures, Paramount Television, CBS, CBS News, CBS Sports, Nickelodeon, MTV, BET, Comedy Central, SHOWTIME®, Paramount+, Pluto TV, Skydance Animation, Film, Television, and Interactive/Games, and the newly established Paramount Sports Entertainment. For more information, please visit www.paramount.com.

*In the U.S. and Latin America, Paramount+ offers subscribers all 13 UFC Numbered Events and 30 Fight Nights.
*In Australia, it includes all 30 UFC Fight Nights and prelims for all UFC Numbered Events.
*In Canada, it includes all 13 UFC Numbered Event Main Cards.

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A Paramount logo is shown on the top of a building in Hollywood in Los Angeles, California, U.S., August 5, 2025. REUTERS/Mike Blake Purchase Licensing Rights, opens new tab

CompaniesJune 4 (Reuters) - Paramount Skydance (PSKY.O), opens new tab and the Ultimate Fighting Championship on Thursday announced a six-year deal, under which UFC's numbered event main ​cards in Canada will be streamed exclusively on Paramount+ starting ‌next year.

The deal is the latest step in Paramount's push to become a live sports streaming destination, as media companies bet on live events ​to boost viewership and drive subscriber growth in a ​mature streaming market.

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The agreement builds on the $7.7 billion deal ⁠in August last year, under which Paramount secured exclusive U.S. ​broadcast rights to the UFC, allowing it to carry the full ​U.S. slate of 13 numbered events and 30 "Fight Nights".

The UFC was one of the earliest bets by David Ellison after he became Paramount CEO following ​the company's merger with his production studio Skydance.

Under the expanded deal, all ​13 UFC numbered events that traditionally feature championship bouts and the sport's biggest ‌stars ⁠will stream live on Paramount+ each year. The deal ends UFC's traditional pay-per-view model in Canada.

Since the UFC debuted on Paramount's platforms in the U.S. and Latin America, over 10 million ​households have watched ​more than 100 ⁠million hours of UFC programming on Paramount+, the company said.

TKO Group Holdings-owned (TKO.N), opens new tab UFC is a mixed ​martial arts organization that produces more than 40 ​live events ⁠annually. Specific events to launch the service in Canada will be announced later in 2026.

The expansion to Canada comes as the media ⁠giant ​prepares to complete its $110 billion acquisition of ​Warner Bros Discovery (WBD.O), opens new tab, whose live sports portfolio includes TNT Sports' Major League Baseball and ​NASCAR rights.

Reporting by Anhata Rooprai in Bengaluru; Editing by Diti Pujara

Our Standards: The Thomson Reuters Trust Principles., opens new tab

SummaryCompaniesAG says his office has central role in protecting Hollywood jobsBehavioral remedies not always adequate to protect competition, AG saysParamount has said deal will create jobsJune 5 (Reuters) - California Attorney General Rob Bonta will soon decide whether to sue to block Paramount's (PSKY.O), opens new tab $110 billion acquisition of Warner Bros (WBD.O), opens new tab, he told Reuters in an interview, adding that ​in general he views any corporate promises to address antitrust concerns as better when backed up by potential divestitures.

Bonta's office has been reviewing the deal for ‌potential violations of U.S. antitrust law, as movie theater owners, Hollywood actors and others have expressed concerns that it would decrease competition across the industry, leading to lower wages, higher prices and fewer options for consumers and content buyers.

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Antitrust authorities in Europe are set to decide by early July whether to clear the deal, while the U.S. Department of Justice is likely to reach a decision soon, according to a source familiar with ​the matter. The deal could close once it clears those reviews, putting time pressure on Bonta's office, which is seen as the most likely enforcement agency to ​challenge the deal.

"There's not a lot of time left before we will need to act if that's what we decide to do," ⁠Bonta said in an interview in Oakland, California.

The combination of two major U.S. film studios has elicited angst in Hollywood over the potential for fewer productions. Bonta said his office ​has heard from many workers in the industry and that their concerns have raised "even more red flags."

Antitrust enforcers can challenge mergers that would significantly harm competition, including competition among employers ​for specialized labor.

"We think we have a central role in being able to protect jobs in Hollywood with respect to the Paramount-Warner Brothers proposed merger," Bonta said.

A Paramount spokesperson said the company has "every economic incentive" to expand production after the merger in order to grow streaming service subscriptions. Paramount CEO David Ellison has vowed that the combined company will release 30 movies per year in theaters. The company views theatrical releases ​as key to marketing its streaming offerings, it recently said in court papers.

Asked whether Paramount should be required to spin off any parts of its business to protect competition, ​Bonta said that behavioral remedies, where companies agree to take particular actions, are not always adequate.

"Can they be part of a solution? Maybe. Should they be backed, if they're even pursued at all, by ‌a structural ⁠remedy consequence if they're not adequate? I'd say so. That's kind of the way I'm thinking about it," he said.

Item 1 of 2 California Attorney General Rob Bonta speaks during an interview with Reuters in Oakland, California, U.S., June 4, 2026. REUTERS/Nathan Frandino

[1/2]California Attorney General Rob Bonta speaks during an interview with Reuters in Oakland, California, U.S., June 4, 2026. REUTERS/Nathan Frandino Purchase Licensing Rights, opens new tab

Paramount Chief Legal Officer Makan Delrahim said in a statement that the company is "always prepared to remedy legitimate and articulated violations of the antitrust laws," but that it believes the deal presents none.

STATES TEAM UP TO TAKE ON ANTITRUSTCalifornia's Department of Justice has the largest antitrust division in the country, with just under 50 people. And the state is adding eight more attorneys this year along with eight support staff, Bonta said. ​California Governor Gavin Newsom has proposed adding $14.3 ​million to Bonta's budget for antitrust work.

A ⁠number of other states are talking to California about a joint challenge to the deal, two people familiar with the matter said.

However, there was no indication that the states have come to an agreement on their approach. The potential costs involved if California hires an outside ​lawyer could be a factor for states, the sources said.

"The full range of options are on the table and available and ​are fully resourced, no ⁠matter what we decide," Bonta said when asked if the state was prepared to take action on its own.

California has worked with both Democratic and Republican-led states on major antitrust cases in the past, including a recent win against Live Nation.

Working together is more important now that the Trump administration is "picking winners and losers based on who their friends are," Bonta said.

But antitrust cases often cost ⁠tens of ​millions of dollars, raising questions about how many major lawsuits the states can bring without their federal partners.

"We ​will find a way, either we'll go back and ask for more money, we'll all pitch in enough resources, we'll hire outside counsel, whatever it takes," Bonta said. "I think the people of our states and the people ​of this country want that, and I know they deserve that."

Reporting by Jody Godoy in New York, Nathan Frandino in Oakland and Dawn Chmielewski in Los Angeles; Editing by Christopher Cushing

Our Standards: The Thomson Reuters Trust Principles., opens new tab

Jody Godoy reports on tech policy and antitrust enforcement, including how regulators are responding to the rise of AI. Reach her at [email protected]

A group of states, including California and New York, are preparing a lawsuit to block Paramount Skydance’s $110 billion acquisition of Warner Bros., two sources familiar with the matter told Reuters on Friday.

The lawsuit is expected to be filed in the coming weeks, the sources said. The case would mark the boldest move yet by the states in their effort to be at the forefront of US antitrust enforcement, as their better-funded counterpart agencies in the Trump administration take a more business-friendly view of enforcement.

Analysts have also viewed Paramount as facing an easier road to regulatory clearance from federal antitrust watchdogs in the US in part because of its political connections. Paramount CEO David Ellison’s father, billionaire Oracle co-founder Larry Ellison, has cultivated ties with President Trump.

 A group of states, including California and New York, are preparing a lawsuit to block Paramount Skydance’s $110 billion acquisition of Warner Bros.,sources told Reuters. Getty Images Shares of Warner Bros fell after the news, and were down 3%. Paramount shares added slightly to losses and were down 7%.

A Paramount spokesperson said the deal would bring greater competition, and opposing it “means giving entrenched incumbents like Netflix an advantage they do not deserve.”

“We will continue to fight against any attempt to derail a deal that plainly benefits consumers, creators, and the industry as a whole,” the spokesperson said.

It was not immediately clear which other states would join the lawsuit. A spokesperson for California Attorney General Rob Bonta’s office said California’s investigation remains active but declined to comment further.

The proposed transaction has faced pushback from actors, writers and others in Hollywood over its potential to eliminate jobs.

Shares of Warner Bros. and Paramount fell on the news. Getty Images for Warner Bros. Discovery Hollywood and Wall Street have been closely watching the high-stakes deal, which would bring ​together some of the entertainment industry’s most enduring franchises.

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Warner Bros. Discovery (WBD 1.24%), global media and entertainment company with film, television, and streaming services, closed Friday at $26.24, down 2.81%. The stock moved lower during Friday’s regular session as investors reacted to reports that multiple U.S. states are preparing antitrust lawsuits to block its planned Paramount Global acquisition. Investors are now watching how growing legal challenges could reshape the deal’s terms and timing.

The company’s trading volume reached 48.1 million shares, about 122% above its three-month average of 21.6 million shares.

How the markets moved todayThe S&P 500 (^GSPC 1.62%) fell 2.63% to 7,383.74 on Friday, while the Nasdaq Composite (^IXIC 1.98%) dropped 4.18% to 25,709. Within entertainment, industry peer Walt Disney (DIS 0.42%) closed at $99.71, up 0.37%, underscoring how deal-specific regulatory risk is distinguishing individual media stocks.

What this means for investorsWarner Bros. Discovery shares fell following reports that several U.S. states, led by California and New York, are preparing to sue to block Paramount Skydance’s planned $110 billion acquisition. Although shareholders have approved the merger, these reports introduce additional regulatory uncertainty as the deal still requires U.S. and European approval.

California’s review is significant because state officials may seek structural remedies, such as divestitures, if they find behavioral commitments insufficient to protect competition. Key forthcoming developments will include whether state attorneys general file suit and whether regulators impose conditions that could impact the timing or value of Paramount Skydance’s planned acquisition.

Eric Trie has no position in any of the stocks mentioned. The Motley Fool has positions in and recommends Walt Disney and Warner Bros. Discovery. The Motley Fool has a disclosure policy.

Marlon Wayans, Craig Wayans and Maurice Mo Hill in "Scary Movie."

Paramount Pictures

The Wayans Bros.’ Scary Movie opened at No. 1 with an estimated $55 million in domestic ticket sales over the weekend, and thanks to its studio Paramount Pictures’ new theatrical-to-streaming window, audiences will get a bit longer to see the film on the big screen.

The sixth film in the Scary Movie franchise opened in theaters on Friday. It marks a reboot of the hit comedy franchise, which kicked off in 2000 with Scary Movie and ended in 2013 with Scary Movie 5. Directed by Michael Tiddes, the new Scary Movie stars Damon Wayans Jr., Marlon Wayans, Shawn Wayans, Anna Faris and Regina Hall.

Forbes‘Scary Movie’ Rotten Tomatoes Reviews Slice And Dice Wayans Bros. SpoofBy Tim Lammers

Like previous releases in the franchise, the new Scary Movie is a send-up of modern horror hits, including M3GAN, Terrifier, Get Out, Weapons, Sinners, Longlegs and Scream, among others.

The new film is written by Marlon Wayans, Shawn Wayans, Keenen Ivory Wayans, Craig Wayans and Rick Alvarez.

Marlon Wayans in "Scary Movie."

Paramount Pictures/Quantrell Colbert

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Paramount Pictures Announced A New 45-Day Theatrical-To-Streaming Window At CinemaConAt the 2026 CinemaCon convention of theater owners in mid-April, Paramount and Skydance CEO David Ellison announced that effective immediately, the studio was going to implement a 45-day window from the time Paramount Pictures’ films open in theaters to the day they arrive on digital streaming via premium video on demand.

Prior to the announcement, Paramount’s films were made available as soon as a month after they opened in theaters. So, for example, the studio’s hit slasher thriller Scream 7, which opened in theaters on Feb. 27, pivoted to PVOD just over a month later, on March 31.

Forbes‘Backrooms’ Drops 70% In Business At Weekend 2 Box OfficeBy Tim LammersAs such, Scary Movie will likely follow Paramount’s new window, which would peg the film for a July 14 release on PVOD, since new releases on digital streaming typically arrive on Tuesdays. New PVOD releases are generally available on such digital platforms as Apple TV, Fandango at Home, Prime Video and YouTube Movies & TV to purchase for anywhere between $19.99 and $29.99 and as a 48-hour rental for anywhere between $14.99 and $24.99.

While Scary Movie will likely follow Paramount Pictures’ new streaming strategy, there is a remote chance that it could debut a little later than July 14. However, a longer theatrical window is rare for the studio, and generally has been reserved for mega-blockbuster releases from the likes of Tom Cruise, who champions the big-screen experience and has the clout to demand longer theatrical engagments.

Forbes‘Mandalorian And Grogu’ Tumbles Out Of Top 5 After 59% Drop At Box OfficeBy Tim LammersFor example, it took Cruise’s Mission: Impossible – The Final Reckoning 88 days from the day it opened in theaters on May 23, 2025, to its release on PVOD on Aug. 19, 2025.

Marlon Wayans in "Scary Movie."

Paramount Pictures/Quantrell Colbert

‘Scary Movie’ Will Make Its Streaming Video On Demand Premiere On Paramount+Since Scary Movie is a Paramount Pictures release, the Pay-1 window for the film on subscription streaming services belongs to Paramount+.

Prior to Paramount Pictures’ implementation of its new 45-day theatrical-to-PVOD window, it would take about a month after the studio’s films debut on PVOD to arrive on Paramount+. However, since Scary Movie is the first major release under Paramount’s new theatrical-to-PVOD strategy, a new theatrical-to-SVOD pattern has yet to be established.

Forbes‘Supergirl’ Tracking To Open At $55 Million, Less Than Half Of ‘Superman’s’ First WeekendBy Tim LammersShould Paramount tack on 15 days to create a month window between Scary Movie’s PVOD and SVOD releases, then the film could possibly arrive on Paramount+ on Aug. 20.

However, the May 28 release date for Scream 7 on Paramount+ may be a telling sign that Paramount has quietly implemented a 90-day theatrical-to-SVOD window since the film was released on the big screen on Feb. 27. Should Scary Movie follows that same pattern, it could arrive on SVOD on Paramount+ as late as Sept. 3.

Rated R, Scary Movie is new in theaters.

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Proxy adviser ISS on Monday urged Warner Bros Discovery shareholders to vote against executive pay and ​exit packages for CEO David Zaslav and other ‌top executives tied to the company's merger with Paramount Skydance.

Bari Weiss, editor of Common Sense and host of "Honestly" podcast speaks at the 2022 Milken Institute Global Conference in Beverly Hills, California, U.S., May 3, 2022. REUTERS/Mike Blake Purchase Licensing Rights, opens new tab

June 9 (Reuters) - Paramount Skydance (PSKY.O), opens new tab is scouting candidates to oversee the business side of operations, who would work alongside CBS News' editor-in-chief Bari Weiss, Axios ​reported on Tuesday, citing two sources familiar with the matter.

If Paramount's ‌acquisition of Warner Bros Discovery (WBD.O), opens new tab goes through, Weiss would manage editorial across CBS News and CNN, and her potential counterpart would manage business operations at both, the ​report said.

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Paramount did not immediately respond to a request for comment. ​Reuters could not independently verify the report.

The search follows a ⁠recent purge at "60 Minutes", CBS' flagship Sunday news magazine, where more than ​half a dozen people have departed over internal clashes, including correspondent Scott ​Pelley, whose contract was terminated last week.

Since becoming editor-in-chief in October under the Free Press-Paramount deal, Weiss has been reshaping the newsroom by adding commentators who offer observations about news, ​politics and culture to CBS as part of a push to bring a "streaming ​mentality" to the network.

Among the candidates being considered for the business role are NBCUniversal ‌News ⁠Group chairman Cesar Conde, CNN Worldwide CEO Mark Thompson and former NBC News president Noah Oppenheim, the report said.

Paramount has also considered Daily Beast CEO and former ABC News president Ben Sherwood and former CBS News president ​and current Sky ​News executive chairman ⁠David Rhodes, Axios reported, citing a source.

Axios reported Weiss' position is secure despite a report by media outlet ​Puck stating Paramount executives were looking for ways to ​limit her ⁠purview over linear coverage.

While the companies wait for regulatory approval for the $110 billion merger, no Paramount executives can have conversations with any Warner Bros executives, including ⁠Thompson, Axios ​reported.

Wendy McMahon, former president and CEO of ​CBS News, resigned in May 2025, telling staffers that she and the company have differing views ​on the path forward.

Reporting by Anhata Rooprai in Bengaluru; Editing by Vijay Kishore

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Paramount Skydance Corporation is rated Buy with a $12.32 12-month price target, driven by operational inflection and merger potential. Q1 adjusted EBITDA surged 59% on just 2% revenue growth, highlighting emerging operating leverage and cost discipline across PSKY's diversified media assets. Streaming momentum is accelerating, with Paramount+ reaching 79.6 million subscribers and platform unification expected to further boost engagement and margins.

Paramount Skydance CEO David Ellison has prioritized putting streaming services on one tech platform. Jonathan Raa/NurPhoto via Reuters Connect; Valerie Macon / AFP via Getty Images; Illustration by Thomas Fuller/SOPA Images/LightRocket via Getty Images Paramount Skydance is preparing to move around some streaming staffers as David Ellison's company wraps up its long-term project of unifying the tech platforms of Paramount+ and free streamer Pluto TV.

This so-called "convergence" project has been a top priority for Paramount. Two high-level streaming employees recently said that convergence is on pace to meet the company's stated goal of a "mid-year launch." While Paramount is planning to keep Paramount+ and Pluto TV as separate services, the hope is that having a single tech platform will save resources and improve recommendations across each app, which could drive higher engagement.

Once convergence is complete, Paramount is planning to reassign staffers who've worked on it, streaming leaders told employees during a quarterly meeting on Wednesday morning.

Paramount said it will "organize our teams against thematic pillars" like monetization, content, and live & video, according to a screenshot of the presentation viewed by Business Insider.

Streaming staffers also learned that some employees "will be utilized to create select additional Solutions Teams" focused on advertising formats, user experience for the short-form video feed on Paramount+, and video playback.

A person familiar with Paramount's streaming strategy said these changes are about "redeploying" product employees after convergence is finished. They said most streaming staff won't be affected by these changes and that no associated layoffs were planned.

Boosting tech beyond convergenceSince Ellison became Paramount's CEO in August, the company has prioritized technology by shaking up teams, making key hires, and adding new streaming features.

Paramount merged some technical streaming teams in March, Business Insider reported. The company said that putting the Paramount+ Global Quality Engineering group and Pluto TV's Software Test Engineering team under one roof helped facilitate "AI enablement and automated testing."

Ellison's company has also emphasized data by expanding the role of EVP Jason Kim, who, since January, has overseen data and insights across all of Paramount, not just streaming.

Paramount has made several key hires. They include former Google AI executive Barak Turovsky as head of consumer AI; fellow former Google executive Hugh Williams as an EVP; and former Amazon ad sales leader Danielle Carney as head of its US ad sales group. Ellison has also brought over product chief Dane Glasgow from Meta and revenue chief Jay Askinasi from Roku.

Paramount has had key departures as well, including former tech chief Phil Wiser in May and former head of streaming product and tech Vibol Hou in January.

Besides marrying the tech stacks of Paramount+ and Pluto TV, Paramount hopes to boost streaming engagement by adding vertical video clips and interactive features, such as a shopping tool. The company is exploring adding video podcasts; rival Netflix recently made a major move into licensed podcasts.

Paramount's most transformative change would be buying Warner Bros. Discovery, which would give it control of the Warner Bros. Studio, HBO, HBO Max, and cable networks like CNN. The merger still needs regulatory approval in the US and abroad, which the company hopes to get by the end of September.

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