Paramount CEO David Ellison met with top European creatives and UK Secretary of State for Culture, Media, and Sport Lisa Nandy this week as the studio pursued its battle for Warner Bros. Discovery abroad.
Top Paramount officials met with French President Emmanuel Macron and EU authorities in a European charm drive that appeared to be intended to bolster backing for an adverse acquisition offer, according to earlier reports from Bloomberg. It’s trying to sabotage a Warner Bros. agreement with Netflix.
Both agreements would require approval from the EU. Sources inform that one of Ellison’s main topics of discussion at his meetings this week was the safeguarding of film. Leaders in Europe, particularly in France, which has long had stringent theatrical windowing regulations—so much so that the Cannes Film Festival declines to screen Netflix films in its Competition lineup—are likely to find that appealing.
Hollywood has been similarly concerned about the potential impact of Netflix’s acquisition of Warner Bros. Studios on the theatrical release industry, which has been severely affected since the COVID-19 pandemic. Although it has recently attempted to modify its attitude, the online service has largely avoided going to the movies.
Following the announcement of Netflix’s $83 billion cash and stock deal, experts who closely monitor the European Commission’s competition work told Deadline that while it would be unexpected if the streamer’s consent got vetoed, any deal would probably result in a probe that might suggest merger prerequisites. To prevent Netflix from having a monopoly on content, they proposed remedies such as requiring Netflix to uphold and respect film and TV licensing deals.
By merging the largest OTT service in the world with HBO Max, Paramount and regulatory experts in the U.S. and the UK have focused on conquering the streaming market share as Netflix’s largest prospective barrier.
