The epic battle for Warner Bros. Discovery that shook Hollywood and the media industry now seems to have Paramount Skydance as the victor, having invested more heavily than Netflix and agreeing to acquire the entire studio, including its films, streaming services, and TV shows.
This move raises the question of whether Paramount Skydance, under the leadership of David Ellison, the son of billionaire Larry Ellison, co-founder of Oracle, is creating a monopoly in the media and film markets. With Paramount acquiring WBD, it would control nearly all major American media assets, especially various shows and news outlets.
David Ellison began his business journey driven by a passion for production and filmmaking. He even dropped out of business school to pursue his artistic film dreams, founding Skydance, a company producing films, series, and TV shows, with notable works including theMission: Impossible,Top Gun: Maverick,World War Zseries such asGrace and Frankie,Reacherand also ventured into animation production with titles like Luck and Spellbound, which are exclusively available on Netflix.
This article from Thairath Money'sHow to Make Moneycolumn introduces David Ellison, the billionaire's son who pursues his passion-driven business despite his wealthy background. He saw opportunity amid crisis, revitalized Paramount in the film market, and if the WBD deal succeeds, will become the new Hollywood king, controlling a vast share of shows, movies, and series.
The beginning of David Ellison's story: born in January 1983 in the wealthy city of Santa Clara, California, near Silicon Valley, he is the eldest son of Larry Ellison, co-founder of Oracle. After his parents separated shortly after his younger sister’s birth, David and his siblings moved with their mother, Barbara Boothe, to a horse farm in San Francisco.
Barbara Boothe said each child had household responsibilities and received a $5 weekly allowance. David grew up immersed in film, as the Ellison home housed a Video Home System with over 3,000 films collected by his father, making afternoons a time for watching movies.
As the children grew, Larry Ellison’s wealth increased, and the family became aware of their rising status. Attending Sacred Heart Schools, David increasingly recognized his family’s public role.
In his teens, he developed interests in aviation and filmmaking. At age 13, he began learning aerobatic flying, with his father joining later. By his 16th birthday, he was piloting an Extra 300 aerobatic plane solo.
He interned twice during summer breaks at Oracle, helping with website development, which revealed his preference for storytelling and creativity over software work.
After graduating high school in 2001, he studied business at Pepperdine University but soon transferred to the University of Southern California’s School of Cinematic Arts to focus on film and television production.
A pivotal moment came in 2006 during his final university year when he co-produced a World War I film, investing personal funds and acting inFlyboys (2006).This experience prompted him to leave university early and fully commit to a producing career.
AlthoughFlyboyswas a box office failure, costing about $60 million but earning only $13 million, Ellison’s role as co-investor marked the start of his founding of“Skydance Productions.” This project gave him close insight into film financing and industry structure, fueling his ambition to create a production company focused on large-scale studio films. From Skydance to Paramount’s Savior
In 2010, Skydance Productions officially launched after raising $350 million through loans, investments, and a credit line from JPMorgan Chase, enabling the startup to partner with major studios on high-budget franchise films during Hollywood’s franchise boom.
Their first joint project was
True Grit,
with Ellison as executive producer. It earned 10 Oscar nominations and grossed over $250 million worldwide on a budget under $40 million. The next collaboration wasMission: Impossible - Ghost Protocol,also executive produced by Ellison, which grossed nearly $695 million globally.These successes established Skydance as a key Hollywood production house. Expanding into television, Skydance Productions rebranded as“Skydance Media,”
producing diverse projects like Emmy-nominated comedy series Grace and Frankie, action seriesJack RyanandReacher.Ellison also executive produced major franchises includingStar Trek,
The Terminator,Mission: Impossible,and notablyTop Gun: Maverick.These projects solidified Skydance Media’s role as a major Hollywood studio player. Ellison further expanded the company by creating animation and interactive entertainment divisions focused on video games and digital projects.In 2024, Skydance Media announced a major merger agreement with Paramount Global valued at about $8 billion, an all-stock deal. Paramount was facing leadership changes, declining cable TV revenue, and streaming losses at the time.This merger integrated Skydance’s film, TV, animation, and interactive media with Paramount’s extensive media empire, including CBS, Paramount Pictures, Nickelodeon, and MTV.After completion, David Ellison became CEO and chairman of the new company,“Paramount Skydance Corporation.”
Although Skydance now manages daily operations, Paramount’s original assets remain central to the new business.
Becoming Hollywood’s Largest Giant
Shortly after government approval of the Paramount merger, in December 2025, Ellison launched a bold takeover bid worth $77.9 billion to acquire Warner Bros. Discovery in a hostile takeover attempt.
Paramount’s offer targeted all WBD shareholders and sought to buy the entire business, including cable networks CNN and Discovery Channel, which Netflix did not acquire in its separate deal. Paramount initially offered $30 per WBD share in cash, but WBD’s board rejected the bid, calling it "unrealistic" and raising concerns about the credibility of Ellison family-backed financing. In a letter to shareholders, WBD accused Paramount of misleading investors and affirmed that its Netflix deal was superior financially and strategically. Paramount responded that its offer was not final.
After reviewing the improved offer, WBD’s board deemed it superior to the Netflix agreement. On 26 February 2026, Netflix withdrew from the bidding, citing diminishing financial returns.
If closed, this deal would permanently reshape Hollywood’s industry structure, centralizing film studios. Although Paramount plans to operate WBD as a separate studio, structurally one of Hollywood’s big five studios would share a single owner.
On streaming, Paramount+, previously noncompetitive alone, would gain strength by merging with HBO Max, potentially challenging giants like Netflix, Amazon, and Disney+.
Discovery and Viacom’s cable networks would also gain bargaining power with advertisers and cable providers.
Overall, the media industry is in crisis, and this merger might ensure long-term survival for both companies. However, many anticipate significant challenges, as Paramount forecasts $6 billion in synergies and cost savings, inevitably resulting in thousands of layoffs.
Entertainment labor unions oppose the concentration of industry power, pressuring Paramount and possibly withholding cooperation. Concerns also exist that under Ellison leadership, the merged company may yield to political pressures.
However, before the deal’s completion, Paramount must secure shareholder and regulatory approval. We will continue to watch how Hollywood’s globally influential film industry and U.S. media sector evolve under the merger of these two giants and David Ellison’s impending reign as the new Hollywood king.
Sources:
Fortune,
CNN,
El Pais,
The Hollywood Reporter,