WBD Sales Leaders Discuss the Impact of the Paramount Deal at Upfront
Warner Bros. Discovery Addresses Paramount Acquisition Ahead of Upfronts
During Warner Bros. Discovery’s upfront presentation on Wednesday, co-heads of sales Ryan Gould and Robert “Bobby” Voltaggio acknowledged the significant upcoming $110 billion acquisition of Paramount.
“Before we go on, we do want to address the Ellison – I mean, the elephant in the room,” Gould noted, referencing Paramount CEO David Ellison and possibly his father, billionaire Larry Ellison, a supporter of the merger. “Listen, we don’t deflect. That’s not who we are. Everyone here knows that there’s change ahead, and that there’s change in our company. But there’s change across the entire media industry.”
The acquisition is on track to be finalized by September, with several regulatory agencies and WBD shareholders already approving the deal. However, some state attorneys general have been reviewing the transaction, and a petition opposing it has garnered thousands of signatures from professionals within the entertainment creative community.
“We’re well aware that your business is changing, too,” Voltaggio said. “But we believe that success is a team effort. So our best-in-class organization, the human people you know and trust so well, are here to help guide you through this transition.”
As Gould pointed out, WBD has undergone numerous mergers in recent years, with the Paramount deal marking its fourth ownership change in just eight years. Initially sold to AT&T in a $85 billion deal in 2016, the acquisition by the telecommunications giant was completed in 2018 after a protracted antitrust battle with the U.S. government. Following a challenging period under AT&T, WarnerMedia merged with Discovery Communications in a $43 billion deal that concluded in 2022.
The positioning of Warner’s assets has also shifted significantly during this time. The launch of streaming platform HBO Max allowed for advertising in front of Warner Bros. films and HBO series, a move once considered unthinkable for the premium cable network. Although WarnerMedia initially took a conservative approach to promoting the HBO and Warner Bros. brands during upfronts after HBO Max’s 2020 debut, by 2026, these brands are set to play a dominant role in the company’s presentation.
