Donald Trump Praises Completed Paramount and Warner Bros Discovery Merger

President Donald Trump publicly praised the merger between Paramount and Warner Bros. Discovery on Tuesday after the transaction officially closed to form Skydance Corporation, according to Deadline and Variety. Speaking to reporters on the White House lawn, Trump stated that he was happy about the deal and called it great, Deadline and Variety reported. The president praised new chief executive officer David Ellison and his father, Larry Ellison, calling them terrific people and predicting the combined venture would become a great company. [2][3]

The media transaction was finalized on Tuesday, merging Paramount and Warner Bros. Discovery into Skydance Corporation, as reported by Deadline and Variety. Variety Business reported that shares of Skydance fell by 2.7 percent during its first day of public trading following the transaction. Deadline TV noted that David Ellison previously pitched Warner executives on the 110 billion dollar acquisition earlier in the year. [2][3][5][6]

Paramount Skydance originally announced its plans to acquire Warner Bros. Discovery for 31 dollars per share, bringing the valuation to 110.9 billion dollars. The acquisition received financing from the Ellison family, RedBird Capital Partners, and sovereign wealth funds based in Saudi Arabia, Qatar, and the United Arab Emirates. The deal followed previous plans by Warner Bros. Discovery to divide its television assets from its studio and streaming divisions. [11]

Chief executive officer David Ellison outlined his vision for Skydance Corporation, stating the goal was to build a stronger competitor that empowers creative talent, entertains audiences, and rewards shareholders, Variety Business reported. [5]