Paramount CEO David Ellison Addresses Top WBD Executives As Merger Process Winds On

Paramount CEO David Ellison ventured onto the Warner Bros lot on Tuesday for a meeting with top execs at Warner Bros. Discovery, addressing the troops at a delicate time.

About 200 top execs from across WBD, spanning the Warner film and TV studios, HBO, HBO Max and other areas gathered for the session at the Steven J. Ross Theatre on the Burbank, CA lot. Paramount has agreed with WBD on a $110 billion takeover, intending to close it by the latter part of the year.

Projections by Paramount’s management team that at least $6 billion in cost savings will result from the merger have made all of Hollywood nervous, but especially the workforce at WBD. The phrase “cost savings” is often shorthand for layoffs. In recent days Ellison, investor and board member Gerry Cardinale and others from Paramount have taken pains to stress that the savings target will be realized mostly via non-personnel means.

As is often the case with town halls or other check-ins with the troops, the takeaways were not satisfaction and fulfillment. One attendee who has taken part in a number of similar events told Deadline, “The main mission for them is not to f–k up. And at least on this one, there were no John Stankey moments.” Stankey, nicknamed The Cowboy by many at the former Time Warner, remains the Dallas-based, baritone-voiced CEO of AT&T. He presided over a disastrous town hall alongside then-HBO chief Richard Plepler, an event that proved a portent for the telecom giant’s unsuccessful dalliance with Hollywood.

One Warner exec who attended Tuesday’s meeting said it felt “perfunctory.” Ellison, the person added, was “full of platitudes & not much more.” …”He really didn’t read the room … and sidestepped any real talk of layoffs.”

Current WBD chief David Zaslav stepped onstage with Ellison and introduced the soon-to-be boss, multiple attendees told Deadline. The two offered a salute to CNN staffers covering the war in Iran. After Ellison delivered prepared remarks, he fielded about a dozen questions, which had been submitted anonymously by execs at the meeting. Frequently, Ellison cited his need to abide by laws restricting “gun-jumping,” meaning he is allowed to meet and speak with WBD staffers but can’t dig into strategic decisions or make forward-looking statements.

A few people in the audience expressed enthusiasm for Ellison’s appearance.

“He leaned into theatrical more than when [Netflix Co-CEO] Ted Sarandos spoke to the executives back in December,” one insider said. “And he name-checked DC twice. He loves DC.”

Despite widespread skepticism about Paramount’s stated plans to release 30 theatrical films a year, Ellison emphasized how it will be possible. He noted that the Melrose lot is on track for 16 films a year, and Warner Bros 14. Remarked one insider post-meeting, “You’ll need a lot of bodies to do that, as Warner Bros production has a small staff.”

Ellison congratulated the motion picture group led by Michael De Luca and Pamela Abdy. “You’ve made two of the best movies from last year,” he said. “I won’t tell you which one.”

The actor-turned-producer-turned-media-mogul demonstrated a range of knowledge about the business, WBD execs said. His acumen was clear not just in expected areas like storytelling and HBO, they noted, but also regarding sports rights, financial models, and the state of WBD’s many brands and why it’s important to keep them differentiated.

Following the event, Deadline understands that Ellison had lunch with Casey Bloys, Chairman and CEO of HBO and HBO Max Content. Bloys, whose current contract is due to expire in 2027, is seen as an exec that the combined Paramount-WBD can’t afford to allow to leave the fold.

The Hollywood Reporter first reported on the Ellison meeting.

Dominic Patten contributed to this report.