Skydance's David Ellison conquered Hollywood, but now the work begins

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Set us as preferred Tech scion David Ellison spent three years doggedly pursuing his dream: acquiring Paramount, then Warner Bros.Discovery.

Ellison pulled off his bold feat this week by completing Paramount’s $111-billion takeover of Warner Bros., uniting two industry pioneers and a wealth of cherished properties — Batman, Bugs Bunny, Harry Potter and Maverick of “Top Gun,” as well as CBS, HBO, Comedy Central and CNN.All will be tucked under a corporate umbrella that Ellison is calling Skydance — the name of the studio he formed two decades ago.The mogul and his lieutenants celebrated their victory in style, ringing the New York Stock Exchange opening bell on Thursday, capping a bruising battle to secure approval of a deal that had sparked protests across Hollywood over fears of looming job cuts.Ellison and his team must braid together two huge film studios (housing nine film labels), four streaming services, three TV production studios, three animation units and more than 50 television networks, including two prominent news organizations.

That could be a daunting task, particularly based on how previous Hollywood mergers have fared.“Now, the real work begins,” David G.Fubini, a Harvard Business School senior lecturer, said in an interview.

Hollywood Inc.Paramount Skydance CEO David Ellison can proclaim victory after settling a lawsuit with state attorneys general that held up his company’s merger with Warner Bros.

But Ellison will have considerable work ahead to repair frayed relations with Hollywood talent.Anxieties were evident Tuesday — the day the deal closed — when Ellison held a town hall meeting at Warner Bros., which drew nearly 500 employees.During the session, CNN’s Anderson Cooper quizzed his new bosses, including about anticipated layoffs and news independence.“Do you stand with CNN an...