The first meeting between Paramount Skydance CEO David Ellison and Warner Bros. Discovery was reportedly not smooth sailing.

After Netflix seemingly defeated Paramount in the bidding war to acquire Warner Bros., Ellison continued to come forward with new offers, until Warner Bros. eventually accepted and Netflix stepped away. If the merger between Paramount and Warner Bros. is legally approved, it raises many questions about the future of the entertainment industry.

Per a report from The Hollywood Reporter, during the first formal meeting between Paramount and Warner. Bros, an executive in attendance shares that it was "turbulent" and “There is still a tremendous amount of uncertainty over here. We were hoping for more.” Ellison provided assurances that there would not be mass layoffs as expected, but an individual at the meeting says, “We don’t believe him.”

An insider who attended the meeting also noted that, as opposed to the similar gathering in December where Netflix co-CEOs Ted Sarandos and Greg Peters spoke, "That felt more celebratory and there was a plan. Here it was like … I don’t know. Just tell us what’s going on.” Ellison reportedly spoke enthusiastically about Paramount and Warner Bros. spending more on creating new content, along with reiterating promises of 30 theatrical movies released per year, merging Paramount+ and HBO Max, and keeping both studios on their lots, but did not provide the specifics that many were hoping for.

Part of the reason Ellison is not able to share some of these specifics is because the deal has yet to officially close. The acquisition is not expected to be finalized until the third quarter of this year. If this does not happen by September 30, Paramount will have to pay Warner Bros. shareholders a ticking fee, adding an extra 25 cents for every quarter that the deal hasn't been completed.

While one of the major concerns with Netflix was whether they would release movies in theaters and honor an extended theatrical release window, there are plenty of other concerns that come with Paramount and Warner Bros. joining together. This includes the expected layoffs, the dangers of monopolizing, and whether Paramount can follow through on delivering 30 movies in theaters each year between the two studios.

On the television side, if all is finalized and Paramount merges with Warner Bros. Discovery, it will have all DC movies and shows, Harry Potter, Game of Thrones, and a great deal of other lucrative IP under its ownership, along with countless other hits under the Warner Bros. umbrella. With the aforementioned franchises continuing to expand, along with plenty of other Warner Bros. content, questions remain for all of them, and Ellison's remarks during the first formal meeting do not appear to have addressed these questions.

Source: https://screenrant.com/paramount-warner-bros-first-meeting-david-ellison-turbulent/