Warner Bros. CEO Says Paramount Takeover ‘Good for the Industry’

As guests trickled in Tuesday to the annual Sun Valley Conference, Paramount Global’s agreement to merge with David Ellison’s Skydance Media was the talk of the resort.

Warner Bros. Discovery Inc. Chief Executive Officer David Zaslav said the deal, which will see the parent of Paramount Pictures and CBS change hands after decades of control by the Redstone family, will lead to a healthier industry. Ellison, the son of Oracle Corp. co-founder Larry Ellison, and RedBird Capital Partners are investing more than $8 billion to take over the company.