daunting

Last week’s settlement of the antitrust lawsuit between state attorneys general and Paramount Skydance over its planned merger with Warner Bros. Discovery marked a clear victory for David Ellison.

If approved by a judge, the settlement would clear the way for the emerging Hollywood mogul to complete the blockbuster $111-billion purchase after months of uncertainty over whether the deal would overcome intense opposition in Hollywood.

What’s more, Ellison achieved the settlement without having to agree to any so-called structural remedies that California Atty. Gen. Rob Bonta had been seeking.

But Ellison can hardly rest on his laurels. The Paramount Skydance chief executive will have to work hard to repair badly frayed relations with Hollywood talent who fiercely opposed the consolidation of two historic studios as a bad deal for workers. And the 43-year-old tech scion will be constrained by some of the terms that were imposed in the consent decree negotiated with Bonta and other attorneys general.

“I don’t envy David Ellison. You bought this ship, now you’ve got to sail it. And you’re facing threats on all fronts: bad will, everybody rooting for you to fail and operating a business in an incredibly uncertain, challenging time,” said Gabriel Kahn, a professor at the USC Annenberg School for Communication and Journalism. “At the same time, you are going to have to mortgage everything to make these debt payments.”

As part of the deal, Paramount agreed to a slate of requirements that, if it fails to deliver, could induce financial penalties, litigation and other costs.

For one thing, Paramount would have to pay a penalty and divest the Miramax film studio if it does not distribute 30 or more films a year in theaters.

The studio also pledged to spend $300 million more each year on film production in the U.S. and further boost its film spending if the federal government adopts a film tax credit of at least 20%; it agreed not to sell or close its lot on Melrose or the Warner Bros lot in Burbank and to operate them “in a manner consistent with past practices,” until 2031.

Additionally, Paramount is required to establish a board to ensure editorial independence for CNN and CBS News, though it will be appointed by Paramount directors with the authority to remove its members.

Beyond attempting to smooth the industry’s many ruffled feathers, Hollywood’s newest mogul must now also wrestle down an astonishing $80 billion in debt accrued as a result of this highly leveraged merger.

Ellison’s father, billionaire Larry Ellison, late last year agreed to backstop the $47 billion in equity needed to complete the acquisition. Royal families from Saudi Arabia, Qatar and Abu Dhabi have agreed to contribute another $24 billion for an equity stake by assuming some of Ellison’s financial commitments.

The months-long battle was bitter and hard fought and enmity within the industry has yet to subside.

On Tuesday, the morning after Bonta announced the settlement agreement, protesters converged outside of Paramount Skydance’s Melrose Avenue gate criticizing the deal. Some held fake gravestones that read: “RIP local business,” “RIP crew call” and “RIP creativity.”

Two days later, a coalition of several groups including the Committee for the First Amendment, filed an amicus brief asking the court to reject the consent decree, saying that it failed to address the anti-competitive concerns of the state attorneys general and would not protect jobs or consumers.

The sense of betrayal was acute.

“Hate to say it but we all got played,” wrote actor Mark Ruffalo, a leading organizer in Block the Merger, a grassroots organization made up of 1st Amendment advocates and Hollywood celebrities who aggressively opposed it, in a post on X.

Sen. Elizabeth Warren (D-Mass.) repudiated the deal, saying in a statement. that it “enables a handful of billionaires to call the shots in the media.”

The entertainment unions struck more cautionary notes.

SAG-AFTRA, the actors union, wrote in a statement that the deal “addresses some of our deep concerns,” but added, “We hope that the process of engaging with the attorneys general has impressed upon them the fact that in addition to collective bargaining, our members rely on the law to help protect our interests. These are the lowest standards that our employers must meet.”

Bonta, who had spearheaded the antitrust suit, gave a tepid endorsement of the consent decree.

“I want to be clear about something right up front: This settlement is not a vote of support for this merger. It is not a blessing,” he said.

During Paramount’s heated and often contentious legal and political wrangling to wrest control of Warner Bros., many in Hollywood became increasingly apprehensive. Combining two legacy studios, opponents feared, would bring even more job losses to an industry already battered by runaway production.

The skepticism hardened as the Ellisons made several controversial moves after Skydance acquired Paramount last summer. They included agreeing to pay $16 million to settle a lawsuit filed by President Trump over a “60 Minutes” interview segment, canceling the “Late Show With Stephen Colbert,” ending diversity, equity and inclusion programs and appointing Bari Weiss as editor in chief of CBS News, who engaged in a wholesale overhaul that led to a revolt at the esteemed “60 Minutes.”

When the newly formed Paramount Skydance announced its intention to swallow up Warner Bros. Discovery just months later, a massive wave of political pressure and public backlash began.

But the Ellisons dug in.

In January — after Netflix threw a surprise wrench into the Ellisons’ designs on Warner Bros. by offering $72 billion, which the studio accepted — Paramount took Warner Bros. to court and launched a hostile takeover bid.

A month later, Netflix walked away from the deal and collected a $2.8-billion termination fee after the Warners’ board agreed to Paramount’s higher all-cash bid.

But many in Hollywood began agitating against the planned merger and pushing for guardrails and protections.

In April, Block the Merger released an open letter declaring their opposition; its list of professionals across the film and television industry eventually swelled to nearly 6,000 names, including Ruffalo, Jane Fonda, Ben Stiller, Sofia Coppola, Trey Parker and Denis Villeneuve.

“The future of free media and a strong entertainment industry in America is at stake here,” said Norm Eisen, co-founder and executive chair of Democracy Defenders Fund, who also helped lead the Block the Merger campaign.

The Writers Guild of America sued to stop the deal, saying it violated antitrust laws. The union last week settled its lawsuit, citing the costs of continuing the litigation, after Paramount agreed not to lay off writers at CBS Broadcast News for years and to pay $17.5 million to the union’s health fund. Nonetheless, the guild said: “We continue to believe the merger will cause damage to writers and the industry at large.”

Some backed the megadeal, including power broker Ari Emanuel.

The WME executive and chairman and CEO of TKO came out swinging, excoriating the antitrust suit, in an op-ed for the Wall Street Journal in July. “They say they are protecting competition. Their actions threaten to destroy it,” he wrote.

The Ellisons’ ongoing ties with Trump — whose administration has clashed with ABC, CNN and other networks — only deepened the suspicions.

Oracle co-founder Larry Ellison has been a Trump supporter and friend. In addition to political donations, he participated in a Nov. 14, 2020, conference call that discussed ways to challenge Trump’s presidential election defeat.

Both Ellison and his son David reportedly promised the president they would make “sweeping” changes at CNN, which is owned by Warner Bros. Discovery.

In June, David Ellison attended the “UFC Freedom 250” event hosted by Trump on the South Lawn of the White House, and last week he was a guest at the White House state dinner honoring Chinese President Xi Jinping.

Amid the high-level public-facing Trump engagements, Paramount had been quietly trying to allay fears about the relationship to industry insiders.

Two individuals in the entertainment industry, who declined to be named for fear of retaliation, said that Paramount sent emissaries to extend a kind of olive branch, explaining their commitment to Hollywood and downplaying the relationship as a necessary step to get the deal done.

In August, Ellison published an op-ed in the New York Times in which he extolled his lifelong love of movies and laid out his case that he could be “trusted as a steward” of the media giant he was amassing, that includes two institutional news organizations (CBS and CNN) and the legacy studios he wished to combine.

However, his seemingly conciliatory message was undercut that same month when he threatened to relocate Paramount’s base to Tennessee or Texas. Ellison built his Skydance production in Santa Monica.

Across the industry, workers viewed the mixed messaging with wariness and anger.

“If Ellison truly wants to be a steward and do the things that he said he can do and wants to do in that article, I think people would welcome it,” said Pamala Buzick Kim, a co-founder of Stay in LA, the 23,000-member grassroots campaign aimed at boosting local film and television production. “They just have no evidence of it.”

Aside from the bad blood, Ellison’s biggest challenge may be financial.

At a time of massive industry upheaval, most observers believe that the company will have to lay off droves of workers to bring its costs down.

“I will honestly say that the biggest work that they have cut out for them is servicing this debt, and that’s going to guide every decision,” said Kahn, the USC professor.

“Now they’re going to have to fire lots of people in order to reduce costs to be able to make this deal pencil out, and they’re going to be skating on the razor’s edge to make sure that they have enough revenue coming in going forward to service this debt. They have almost no room to maneuver.”

But Paramount has one thing working in its favor: leverage. David (as in Ellison), for better or worse, is now the industry’s Goliath.

“I think temper tantrums can be easily forgotten if the work is there,” said Buzick Kim. “I think most people would be happy to leave it behind them — if the work is there.”

Times staff writers Meg James, Stephen Battaglio and Samantha Masunaga contributed to this report.

I did my first solo hike during a sunny September, seven years ago. After a summer of feeding and ferrying four noisy teenagers (and their friends) around, I was exhausted. But despite being bone tired, I had barely moved. I yearned, above all, for time on my own, for the chance to walk without interruption (and at the pace I chose), and for the silence of some empty wilderness.

But I was nervous. Not of being on my own, but of what might happen to me with no one around to help (breaking a bone, encountering a psychopath, being chased by a bull, getting fatally lost). I could have found a companion or joined a group, but my need for silence and solitude outweighed my fears.

It seems that many women feel the same: in the UK, the proportion of women solo hiking surged by 27% between 2020 and 2022. In America, 41 % of female hikers report regularly walking alone. And yet many women, although keen to do something similar, feel intimidated. According to researchers at the Munich University of Applied Sciences who are studying solo female walkers, 30% of women interviewed said they would like to hike solo but are hesitant.

In truth, women have long enjoyed a tradition of solo walking. From religious pilgrims to goat herders to 19th-century adventurers, there have always been women wandering, radically alone, through wild landscapes. But for those new to it, I’d say the best way to overcome your fear is to do it – and I’ve learned some simple ways to make the experience fun, not daunting.

That first solo hike followed a French canal. It was beautiful but sometimes felt a little too abandoned. It was also bereft of facilities, and frequently involved a long, complicated walk to my accommodation. So here are some of the things I now look for in a route: no discomfort-inducing stretches of urban wasteland; wide open landscapes (ridgeways, cliffs and hilltops are favourites); excellently waymarked, well-maintained paths (like national trails); navigation-lite routes that follow rivers, (lively) canals or coastlines; and countries/regions with a tradition of hiking.

I do my research with care, and I’ve always returned home exhilarated, revitalised and high on my own bravado. I’ve learned to avoid the trails where I might feel uncomfortable. I know now which landscapes calm me, and which trails are (almost) impossible to lose my way on.

For the last seven years, I’ve walked solo every autumn. Indeed, autumn is the perfect time for a liberating, empowering and restorative (solo) hike. Falling leaves improve visibility, temperatures are pleasant, and the days are still long enough to ensure I can reach my destination before dark. Importantly, there are lots of other walkers around – but without summer’s hordes – and the landscape is autumnally crisp and colourful.

If you’re new to solo walking, start with a single day. If you want to try walking for multiple days, consider paying for your luggage to be transported (or use a specialist tour operator who will plot your route, arrange accommodation and move bags). Otherwise pack as lightly as possible. Take a non-digital map and a stick/walking poles, and let someone know your arrival time. Study every aspect of your route – including transport options and the weather – before you set off.

FOUR GREAT ROUTES FOR SOLO HIKERS

The Bernese Oberland, Switzerland

The Swiss Alps are one of my favourite places to walk alone. Swiss women are keen solo hikers (so no one bats an eyelid at yet another single woman), the waymarking is superb and the scenery is jaw-dropping. Because this is a nation of farmers and hikers, there are always people (and a phone signal) around. And yet – because of the mountainous terrain – there’s often a genuine sense of wilderness and solitude. The Bernese Oberland is overrun with tourists in summer, but come to this Unesco world heritage site in autumn and you’ll be walking, calmly, in the footsteps of dozens of 19th-century women who once came here specifically to hike alone. Base yourself in the car-free villages of Wengen or Mürren, and expect to find farm-cafes with homemade cakes and honesty boxes in the remotest of spots.

The South Downs Way

From Eastbourne
To Kingston, near Lewes
Time 2 days
Distance 19 miles

The UK has plenty of well-kept trails, but top of my list is the (expansive, clearly signposted) South Downs Way. In summer the Eastbourne to Alfriston clifftop stretch heaves with tourists, but in autumn you’ll share the panoramic views – dazzling sea, dramatic chalk cliffs – with a handful of dogwalkers. Just a few steps off the trail are cultural hotspots like the pretty village of Alfriston, Charleston Farmhouse (museum home of the Bloomsbury set), and Rodmell, where you can visit Virginia Woolf’s house. So you’ll never feel completely disconnected.

The Cleveland Way

From Saltburn
To Filey
Time 4 days
Distance 52 miles

The Cleveland Way was the UK’s second official national trail, meaning the route is well maintained, the signage is excellent and the scenery is glorious, covering coastline and windblown moors. The moors can feel bleakly exposed in the wrong weather, so opt for the four-day coastal section, Saltburn to Filey, with its quirky towns and villages. This is Yorkshire so expect plenty of conversation with passing walkers and the chance to feel romantically windswept – an intoxicating blend for the solo hiker who wants to feel alone in nature, but not too alone.

The Fishermen’s Trail, southern Portugal

From Praia da Luz
To Sagres
Time 3 days
Distance 27 miles

The Fishermen’s Trail is far too hot in summer, but when I went (November) the temperature was just right, the sea was warm enough to swim in, and there were enough solo female hikers to feel pleasantly companioned. With some rocky scrambling to make one feel suitably youthful, and sufficient sandy coves to squeeze in a siesta, this route (a chain of old fishing villages) also has abundant, inexpensive accommodation and fresh seafood galore. Like other sea-hugging routes it’s (mostly) impossible to get lost – just follow the coastline.

I’ll leave the last word to writer Mathilde Blind, who (aged 19) walked alone through the Bernese Oberland in 1860 (no phone, no GPS, no bra, no waterproof trousers): “For once I felt truly free.”

Annabel Abbs is the author of The Walking Cure and Windswept: Why Women Walk. She was a guest of InnTravel on its Coastal Algarve and Fishermen’s Trail route, and of MACS Adventures on its Highlights of the Bernese Oberland route.