Warner Bros staff told Paramount deal could close in about 10 days
Warner Bros. Discovery has told 500 senior Warner Bros. staff that Paramount's $110B takeover could close in about 10 days.
The briefing took place on a Zoom call after Paramount settled an antitrust lawsuit brought by 12 US states to stop the merger, a settlement reached on 21 September 2026 that removed the final legal block, according to Reuters. Paramount had agreed not to close while that case was in play, a deal term reported by Deadline. The writers' union, the WGA, had also sued to block the merger.
The staff call was led by Studios chief operating officer Simon Robinson, chief legal officer Priya Aiyar, communications chief Robert Gibbs and human resources head Amy Girdwood, as reported by Deadline. Robinson is running point on merger integration. Chief executive David Zaslav was not on the call. Zaslav is likely to walk away with more than $600M from the $110B merger.
Executives told staff they had limited visibility into Paramount's plans for the combined company. They said the name and leadership structure of the new organisation would likely be announced before the close. Paramount chief executive David Ellison had given a two-week timeframe for the close on Monday, 21 September 2026.
Paramount agreed to acquire Warner Bros. Discovery in a transaction valuing Warner Bros. Discovery at $81B in equity value, with shareholders to receive $31.00 per share in cash. Warner Bros. shares rose as the deal neared the finish line. Paramount has said the purchase will deliver $6B in synergy savings, the cost cuts and efficiencies expected from combining two companies.
As part of the state settlement, Paramount agreed to keep both studio lots and to keep its headquarters in Los Angeles after the merger. The two studios are set to release 36 films combined in 2027. Paramount had earlier promised about 30 films a year from the combined operation, a pledge backed publicly by Tom Cruise.
The change of ownership lands in a soft year at the box office for Warner Bros. No Warner Bros. title has cleared $100M domestically, the United States and Canada, this year, with Wuthering Heights the highest at $84M in domestic ticket sales. DC's Supergirl carried a $186M net production cost against a $126.3M global gross, figures reported on 23 September 2026. Next up is Digger, a $125M film starring Tom Cruise and directed by Alejandro Inarritu, produced by Legendary and opening on 2 October.
Separately, Paramount executives have discussed seeking an equity investment from Elon Musk as they prepare to close the Warner acquisition, as reported by Deadline.
For cinema-goers, this means the question is now practical. Who runs the combined studio, which lots stay open, and which of those 36 dated films actually hold their weekends.
