David Ellison, Chairman & CEO, Paramount Skydance speaks on stage during New York Upfront Partnership Event 2026 at Storied NYC on April 22, 2026 in New York City.

Paramount makes concessions to salvage $111 billion Warner Bros. Discovery deal

David Ellison, Chairman & CEO, Paramount Skydance speaks on stage during New York Upfront Partnership Event 2026 at Storied NYC on April 22, 2026 in New York City.

David Ellison, Chairman & CEO, Paramount Skydance speaks on stage during New York Upfront Partnership Event 2026 at Storied NYC on April 22, 2026 in New York City. Noam Galai/Getty Images for Paramount/Getty Images North America

Noam Galai/Getty Images for Paramount/Getty Images North America

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Paramount’s owners have made a series of concessions to a coalition of 12

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