Paramount CEO appeals to European officials to challenge Netflix-Warner deal

Paramount CEO David Ellison reportedly met with UK and European figures as the company seeks to contest Netflix's agreement to buy Warner Bros. Discovery; specialists say the deal would likely face an in-depth EU review.

Paramount CEO David Ellison has held talks with European politicians and industry figures this week as the company seeks to contest Netflix's agreement to buy Warner Bros. Discovery. Reports say Ellison spoke with UK Culture Secretary Lisa Nandy and with leading creatives in Europe. Bloomberg reported that senior Paramount executives also met with French President Emmanuel Macron and with EU regulators. The outreach follows months in which Paramount pursued an acquisition of Warner Bros. Discovery and then continued legal and shareholder actions after Netflix reached a deal. Reported details: - David Ellison reportedly spoke with UK Culture Secretary Lisa Nandy and leading European creatives, according to Deadline sources. - Bloomberg reported that senior Paramount executives met with French President Emmanuel Macron and with European regulators. - Ellison emphasized protecting theatrical exhibition, a point noted as likely to resonate in countries with strict theatrical rules such as France. - Specialists following the European Commission say the reported $83 billion Netflix transaction would likely face an in-depth review and that any approval could come with conditions. - Warner Bros. Discovery agreed to a deal with Netflix in December after putting itself up for sale, and Paramount has continued shareholder and legal efforts following its own bid. Summary: Paramount's outreach aims to encourage European scrutiny of Netflix's purchase of Warner Bros. Discovery and to highlight theatrical protections. Specialists say the European Commission would likely carry out an in-depth review that could include conditions; Undetermined at this time.