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Received β€” 14 August 2026 ⏭ TPM – Talking Points Memo

Is Paramount’s Merger-Hungry David Ellison Making it Up As He Goes?

14 August 2026 at 16:49

This article is part ofΒ Cafe, TPM’s home for opinion and news analysis.

In β€œRaiders of the Lost Ark,” when Indiana Jones is asked how he intends to single-handedly stop a Nazi caravan he mutters, β€œI’m making this up as I go.” That improvisational approach by a signature Paramount hero appears to mirror that of the company’s current CEO David Ellison, as he stumbles through a conservative media takeover that feels more like the product of expediency than ideology.

The latest odd wrinkle in Ellison’s serialized pursuit of becoming one of media’s most influential figures β€” acquiring Paramount through Skydance Media, then engineering a pending $111 billion merger with a much larger studio, Warner Bros. Discovery β€” emerged this week. Frustrated by the thus-far effective efforts of state attorneys general, led by California’s Rob Bonta, to delay or even derail the deal, Paramount officials privately floated the prospect of abandoning California if Ellison doesn’t get his way, administering a blow to the state’s economy.

Bonta quickly labeled the not-so-subtle threat β€œblackmail,” but like many of Ellison’s actions, there’s a sense nobody fully thought the logistics through in terms of relocating and how that would practically work. Since the Skydance deal closed a year ago, Paramount has been defined by chaos, potentially destroying traditional media outlets while cozying up to the Trump administration to secure its regulatory blessing.

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