“David Ellison, chairman and CEO of Paramount, a Skydance Corporation, took the war of words and his message across the pond on Thursday, publishing an open letter to the creative community and audiences in the UK with a set of commitments, should the company succeed in acquiring Warner Bros. Discovery (WBD), which has struck a”, — write: www.hollywoodreporter.com
Paramount has been pushing its hostile bid for WBD in communications with shareholders and industry groups, arguing that Netflix’s increased market power after a deal for parts of WBD faces regulatory concerns and should also worry sector players.
Added Ellison: “This art form is essential – and it must be protected and preserved for generations to come. At Paramount, these beliefs are what drive us and our pursuit of Warner Bros. Discovery. We see an extraordinary opportunity to bring together our two celebrated companies, enabling us to tell more stories, reach broader audiences, and amplify impact. Just as important, we believe the creative community and audiences are best served by greater choice – not less – and by a marketplace that encourages the full spectrum of filmmaking, content creation, and theatrical exhibition, not one that eliminates meaningful competition by creating a monopolistic or dominant entity.”
He argued that a merged Paramount-WBD would be “in stark contrast to Netflix’s path – this proposed combination is intended to strengthen competition by creating a more capable and effective rival to the dominant platforms.”
Here is a closer look at the commitments Ellison made in the open letter:
“Increased Creative Output.”
Third-party content and licensing.
“Both studios will continue to support a vibrant third-party ecosystem by licensing their films and shows across their own and third-party platforms, while remaining active buyers of content from third-party studios and independent producers,” the letter noted.
Preserving HBO.
Theatrical commitment.
Home video commitment.
“Following its theatrical run, each film will transition to the current industry standard home video window, preserving paid video-on-demand prior to availability on subscription streaming services,” Ellison wrote.