David Ellison, the CEO of Skydance Media, is radiating confidence in his pursuit to acquire Paramount from Shari Redstone, according to sources familiar with the situation. Despite facing challenges from the Trump administration and legal hurdles, Ellison remains optimistic that the $8 billion deal will be completed by the end of summer.
Ellison, known for producing blockbuster films like “Top Gun: Maverick” and the latest “Mission: Impossible” sequels, has been spreading positivity among industry insiders in Los Angeles. While details surrounding the transaction have been less than encouraging, Ellison’s unwavering belief in the deal’s success is puzzling to many.
The Trump administration has been delaying regulatory approval for the deal, citing concerns about political bias in Paramount’s CBS News subsidiary. Trump himself has filed a $20 billion lawsuit against CBS, alleging deceptive editing in a controversial interview with Kamala Harris during the 2024 presidential election. Paramount sees the deal’s regulatory clearance as contingent on settling the lawsuit, but the management team is wary of potential bribery charges.
Recent settlement discussions between the two parties have revolved around a payment of $35 million to resolve the lawsuit, significantly lower than the initial $20 billion demand. Talks have also included the possibility of CBS running public service ads for causes favored by Trump, alongside a smaller cash payment. While the mediator has shown receptiveness to these terms, it remains uncertain if Trump will agree to the proposed settlement.
Trump’s lawyer, Ed Paltzik, emphasized the president’s commitment to holding accountable those involved in spreading misinformation and election interference. Paramount has refrained from commenting on the matter, while a spokesperson for David Ellison declined to provide a statement.
Despite the legal complexities surrounding the deal, Trump has commended David Ellison as a capable leader who could bring about a cultural shift at CBS. Larry Ellison, David’s father and the source of funding for the merger, maintains a close relationship with the White House, potentially facilitating the deal’s approval.
Industry experts speculate that the deal could be finalized before the lawsuit is settled, allowing Ellison to fulfill any financial obligations to Trump post-acquisition. Paramount may opt to settle with Trump to avoid prolonged litigation, as the costs of a legal battle could outweigh a potential settlement.
In light of these developments, David Ellison’s optimism about securing Paramount and CBS appears justified, signaling a potentially bright future for the media conglomerate under his leadership.
