Paramount's Ellison underscores his pledge to make 30 films a year when his company buys Warner Bros.

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Paramount Skydance Chairman David Ellison defended his commitment to release 30 movies a year once his media company swallows Warner Bros.Discovery — a goal that some industry observers view as overly ambitious.During a Monday call with analysts to discuss Paramount’s first-quarter earnings, the tech scion said the target was achievable because his management team would maintain current levels of production.

Paramount has doubled its film release capacity to 15 films this year, matching the number of theatrical releases planned by competing Warner Bros.“The two companies are actually making 30 films to date,” Ellison said.

“We really view our pending acquisition of Warner Bros.Discovery as a powerful accelerant to our strategy.”The company said it was on track to finalize its Warner takeover by the end of September.

The $111-billion deal would transform the smaller Paramount into an industry titan with prestigious programming, including Harry Potter, “Game of Thrones,” “Euphoria,” as well as its current slate of Taylor Sheridan-produced franchises, including “Yellowstone” and “Landman.” The combined company also would own dozens of popular TV networks, including CBS, CNN, Comedy Central, Food Network and HGTV.But the proposed merger would saddle the combined company with $79 billion in debt, stoking fears that Paramount would need to make steep cost cuts to balance such a large debt load.

During the quarter, Paramount lined up banks and other institutional investors to provide bridge financing to help pull off the transaction, the company said.“We’re pleased with the momentum and will continue to take the necessary steps to bring this deal to completion,” Ellison told analysts.

Hollywood Inc.Paramount Chief Executive David Ellison came to CinemaCon last week to convince movie theater owners he’s serious about releasing 30 films a year if t...