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David Ellison Awarded $150 Million Tied to WBD Merger Closing

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Paramount CEO David Ellison is set to receive awards of $50 million in cash and $100 million in stock tied to the closing of the company’s pending $110 billion merger with Warner Bros. Discovery.

Meanwhile, the media giant’s Chief Strategy and Operating Officer Andy Gordon will receive a $15 million cash award and $23 million stock award, while Chief Legal Officer Makan Delrahim will receive a $12.5 million cash award and $12.5 million stock award.

The awards, which were disclosed in an amended 10-K filing with the U.S. Securities and Exchange Commission on April 24, will be paid in a lump sum amount within 30 days of the deal’s closing. The restricted stock units will vest in equal quarterly installments over a five-year period following the closing.

The cash and stock awards come as Ellison raked in $63.2 million in compensation for the period covering the Skydance merger closing on Aug. 7 to Dec. 31, 2025, while Gordon received $48.5 million and Delrahim received $63.6 million for the period.

The Paramount-WBD merger, which has secured shareholder approval but is still subject to regulatory approval, is expected to close by the third quarter.

Regulators in the U.K. are gearing up to begin their review of the deal, with its deadline for public comments closing just last week. Paramount has also asked the FCC to approve its foreign investment in the deal, with those investors accounting for 49.5% of the equity of the combined company, and says there’s “no statutory impediments” remaining after the Department of Justice’s Hart-Scott-Rodino review period expired, though the regulator can still get involved at anytime in the process.

In addition to federal and international regulators, a group of U.S. state attorneys general led by California’s Rob Bonta are also reviewing the deal and weighing whether to take legal action against the merger. Bonta previously told TheWrap that “red flags are everywhere when you have a merger of this type” and that the states are prepared to “act timely,” but declined to provide a specific timeline for when a decision could be made.

In a recent regulatory filing, Paramount disclosed that it has received subpoenas, or civil investigative demands, from various state AGs that focus on the investigation by the Department of Justice and the competitive effects of the merger. It does not disclose which or how many state AGs sent subpoenas.

“We have been cooperating with the state attorneys general in responding to their requests,” Paramount said.

If the deal is not closed by Sept. 30, WBD shareholders will receive a 25 cent per share “ticking fee” for each quarter until closing. In the event that the deal does not close at all due to regulatory matters, Paramount will pay WBD a $7 billion termination fee.

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‘ESPN Jeopardy!’ Returns For Season 2 On Hulu & Disney+

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Civilian sports fans can now apply to play the latest version of Jeopardy! after it was revealed that ESPN Jeopardy! is returning for a second season.

Disney+ and Hulu premiered the first season of the show in July with stars such as Jon Hamm, Hannah Storm, Manti Te’o and Adam Pally.

It will now return with everyday sports fans facing off against each other in order to win a $300,000 prize. In the first season, celebrities and ESPN talent competed in the tournament-style event for a $500,000 prize for the charity of their choice.

Joe Buck, who hosts the show, announced the renewal on Monday Night Football as the Philadelphia Eagles prepare to take on the Chicago Bears at Soldier Field.

The series, which is also available to watch on the ESPN app, is the latest spinoff of the classic gameshow. It comes after Sports Jeopardy!, which ran for three seasons and over 100 episodes on Crackle, Rock & Roll Jeopardy!, which ran for four seasons on VH1, and, more recently, Celebrity Jeopardy! and Pop Culture Jeopardy!, which is hosted by Saturday Night Live’s Colin Jost and moved from Amazon to Netflix for its second season, which debuted in May. There was also a recent YouTube digital edition.

The series is produced by Sony Pictures Television and Michael Davies, who exec produces the main Jeopardy!, serves as executive producer. It is shot on the Alex Trebek Stage, the official name of Stage 10 at Sony Pictures Studios in Culver City.

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Sylvester Stallone on ‘I Play Rocky’ Biopic: ‘I’m Not Dead Yet’

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Sylvester Stallone is weighing in on seeing his life’s story retold on the big screen in the upcoming biopic I Play Rocky.

The film, which premiered to much fanfare at the Toronto International Film Festival earlier this month, follows the making of 1976’s Rocky, with Anthony Ippolito playing a young version of Stallone as he develops and pushes the film through a tumultuous production.

During a chat at 92NY on Monday promoting his new memoir The Steps, Stallone reacted to the project, admitting he was initially “kind of mixed because I’m going, ‘I’m not dead yet. Aren’t we jumping the gun a little bit?’ And then I saw this video of this kid [Ippolito]. I actually thought it was me the first moment; there were a couple of angles. I go to my daughter and say, ‘That’s unbelievable.’”

The star emphasized he has “nothing to do” with the movie, which was directed by Peter Farrelly. “I said, ‘I’ll just sit back and watch.’ I talked to the kid. I said, ‘If you want any questions, here I am,’ and that was it. But they did it all on their own,” as Stallone joked that in seeing Ippolito’s portrayal, “I go, ‘Do I talk like that?’ Now I get it. Now I get it.”

Elsewhere in the conversation, Stallone spoke about what it’s like for him to watch the Rocky movies now (“It’s like you look at a photo of yourself, everyone else likes it, but you go [growl]”) and revealed he’s trying to get Amazon to let him recut 1990’s Rocky V, calling the movie “a thorn in my side.”

“It bothers me to death because I know I took my foot off the gas,” he said, noting that he should have directed it himself and “I should have been more aware of not trying to be cool to the audience.” He joked that if he’s able to do a recut, “It’s not going to be great. It’ll be acceptable.”

Stallone was also asked by the moderator, CBS Sunday Morning’s Tracy Smith, if he thinks he could make it to the top of Hollywood if he was just starting out today.

“It’s a whole different ideology out there… I don’t think so. It’s a whole different mindset,” he replied. “The actors look different. They act different — not the mentality, but the subject matter isn’t something that I could relate to. Like action right now is kind of anachronistic.”

He continued, “For example, if you were going to make The Godfather today, try casting it. Impossible. The whole premise — it just came at a certain time, and that’s why it makes it so unique. So quite often when they do remakes, they’re fundamentally forgetting that that film was based on the social climate, the thing, the look, the ethnicity, everything that there was going on at that time. Today, you couldn’t cast the film.”

The Steps hits bookshelves on Tuesday.

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Paramount Pushes $44 Billion Debt Offering to Finance Warner Acquisition

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Paramount Pushes $44 Billion Debt Offering to Finance Warner Acquisition







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