Paramount CEO David Ellison sent a memo to all staffers seeking to reassure them that the $111 billion acquisition of Warner Bros. will still happen.
The memo comes after Paramount said on Friday that it would put the deal on hold for several months as it fights back against the antitrust lawsuits filed by 12 state attorneys general. Paramount said it would not close the deal until June 2027 or five days after the court issues a ruling on the antitrust case, whichever comes first.
Still, in the memo to staff Monday, Ellison said, “Let me be clear: we remain highly confident that this transaction does not pose any legal issues, and we will complete it and bring these two companies together.” He added that the company is in the midst of discussing potential trial dates with the states and would provide an update next Friday.
“I know this additional uncertainty has been challenging, and I want to thank you for your continued patience, commitment and collective contributions. For now, it remains business as usual. Paramount and WBD are separate companies operating independently, and our focus remains on serving our audiences, supporting one another and executing our strategy,” he said in the memo, ending with a “Let’s go!”
