Ellison Says Paramount Tentatively Plans to Close WBD Deal in Two Weeks

Paramount Skydance CEO David Ellison told staff that the company tentatively plans to close its Warner Bros. Discovery acquisition in approximately two weeks after settling lawsuits with 12 state attorneys general and the Writers Guild of America, Variety and PBS News (via the Associated Press) reported.

In a Monday staff memo quoted by Variety, Ellison wrote that California Attorney General Rob Bonta — on behalf of himself and 11 other state AGs — had announced a settlement clearing the path on the lawsuit blocking the merger, and that Paramount had also reached a settlement with the WGA. “With both groups’ concerns now addressed, we have complete clearance for this merger and can move toward closing,” the memo said.

Ellison cautioned that closing is “really just the starting line” and that combining companies of this size will take time. He directed employees with role or team questions to an Integration Hub, managers, HR or an internal communications address, Variety reported. Separately, he issued a statement that the newly merged company will remain headquartered in Los Angeles: “We aren’t going anywhere. Our history is here and this is where our future is being built.”

The AG settlement includes production commitments Ellison highlighted in the memo — including 30-plus films annually and expanded U.S. film production — framed as support for industry jobs. PBS News / AP said Paramount also pledged millions for a fund aiding workers displaced by the merger and monitoring of editorial independence for the company’s news operations. The deal still requires a judge’s final sign-off.

For readers following Hollywood consolidation on Studio, Ellison’s close timeline is distinct from earlier coverage of amicus challenges and a judge’s decision to hold a settlement ruling. Monday’s memo is Paramount’s internal close clock after the weekend negotiations with the states and the guild.

The WGA confirmed its own settlement after the AGs moved first. The guild said Paramount agreed to prohibit writer layoffs at CBS News Broadcast for five years and to pay $17.5 million to the WGA health fund plus attorneys’ fees, according to Deadline’s parallel settlement coverage and the AP account carried by PBS News. The guild still argued the merger will damage writers but said pursuing the antitrust case alone after the states settled was not financially viable.

Bonta maintained the states’ resolution was about protecting careers and livelihoods, not an endorsement of the merger. “I don’t think these two companies should merge,” he said at a Monday press conference, while describing commitments meant to lock in theatrical volume and worker supports, PBS News reported.

Ellison’s memo closed on a hiring-and-storytelling pitch: combining Paramount and WBD, he wrote, means more opportunity for creatives, crews and employees and more entertainment for audiences. Whether the approximately-two-week close holds depends on remaining closing steps and any court action on the consent decree — but the staff message marks Paramount’s clearest public timetable yet for finishing the deal.