suddenly

Tech scion David Ellison for months projected confidence that his blockbuster Hollywood merger was on a glide path to completion.

His media company Paramount Skydance’s pitch early this year was that its proposed $111-billion acquisition of rival Warner Bros. Discovery could easily clear regulatory hurdles — unlike Netflix’s competing bid.

Ellison has heavyweights in his corner: his billionaire father Larry Ellison, co-founder of software giant Oracle, is bankrolling the deal, and President Trump is eager for the Ellison family to own CNN and other Warner assets, including HBO and the Burbank film and TV studios behind “Batman,” Harry Potter, Wile E. Coyote, and “The Pitt.”

“We could technically close [the deal] tomorrow,” Ellison told business new channel CNBC during a March interview. “There is nothing in this transaction that trips anything that would create cause for concern.”

But Paramount made a dramatic retreat Friday after two weeks of legal setbacks. The firm had been aiming to close the deal by September but agreed to table its takeover — perhaps until next spring — to allow a fiercer than expected challenge from California Atty. General Rob Bonta and 11 other Democrat state attorneys general to advance to trial before an Oakland-based federal judge.

The state prosecutors allege Paramount’s proposed merger with Warner Bros. violates a century-old antitrust law by giving the combined company too much heft in theatrical movie distribution and cable television.

The delay could saddle Paramount, the smallest of the major media companies, with substantial legal fees and hundreds of millions of dollars in added deal costs. In February, Paramount offered Warner investors a sweetener, so-called “ticking fees,” to win the auction.

Those fees, which begin accruing in October, will cost Paramount an extra $7 million a day — until the purchase is finalized. And if Paramount fails to close the merger, it would owe Warner Bros. Discovery a $7-billion breakup fee.

“Anyone who thinks they know how this deal ends should think again,” Forrester Research analyst Mike Proulx said in a statement. “This deal may still close or it may not. … The path to either outcome just got longer, messier, and likely more expensive.”

Paramount now must strengthen its case for a high-stakes trial while fortifying Paramount’s existing businesses and holding together a coalition of financiers, which includes the royal families of Saudi Arabia, Abu Dhabi and Qatar which jointly agreed to contribute $24 billion for equity stakes in the combined company.

Paramount reversed course after U.S. District Judge Araceli Martínez-Olguín dealt the company a blow on Monday when she temporarily blocked Paramount from finalizing the acquisition until mid-August. Looming was a key Aug. 3 hearing for the judge to determine whether the moratorium should be extended.

Paramount was concerned the judge would block the deal for the foreseeable future.

“They saw the writing on the wall,” Bonta said in an interview.

Columbia Law School business professor Eric Talley added: “This doesn’t constitute Paramount Skydance coming out and waving a big white flag — but it is a small white flag of surrender.”

Paramount, in a statement, said heading straight to trial would prove advantageous.

“This is the fastest and clearest way to prove that this transaction is good for competition, good for consumers, and good for creators,” Paramount said. “We look forward to proving our case at trial.”

Last week, the Writers Guild of America separately filed a lawsuit seeking to stop the merger, alleging that writers would encounter less work and lower pay should Paramount buy Warner Bros.

Now the merger won’t close until after a resolution in the litigation or by June 1, 2027, whichever date comes first.

“This is what we’ve been asking for from the start,” Bonta said. “We just wanted the court to have sufficient time to review our case without the threat of the companies merging.”

Ellison, through a Paramount spokesperson, declined an interview request.

The delay brings a different set of challenges, Talley said, including pushing the date of the takeover until after November’s pivotal mid-term elections when control of Congress might change hands.

“That itself could be disruptive,” Talley said. “Suppose we get a flip of the House of Representatives or the Senate, then we may see testimony in Congress.”

Prominent Democrats, including Sens. Cory Booker (D-N.J.), Elizabeth Warren (D-Mass.) and Adam Schiff (D-Burbank) have expressed alarm over the potential consolidation, which would shrink the number of legacy film studios and bring CNN in addition to CBS News under Ellison control.

Attempts to get Ellison to testify in Congress have fallen short. The Paramount chief declined an invitation to appear before the Senate Judiciary Subcommittee on Antitrust, Competition Policy and Consumer Rights in February, as well as a subsequent request from Booker to appear during an April spotlight hearing.

“To what extent was the rush to get the deal done related to the midterms, and what press coverage was going to look like in the upcoming election season?” Talley asked. “CNN is not a huge money-making asset but it is a prominent asset of Warner Brothers Discovery.”

On Friday night, Trump extolled his friendship with the Ellison family during the White House Correspondents Assn. dinner while also criticizing prominent CNN anchors.

David Ellison is “going to make, I think, fantastic changes and keep some of the great stuff going,” Trump said.

CBS News has been roiled since shortly after the Ellisons acquired Paramount in August, and installed Bari Weiss as editor in chief of CBS News. She has overseen a series of controversial moves, including shaking up the evening news and sacking several “60 Minutes” correspondents.

Paramount scored one victory: the European Commission gave its blessing for the merger to go forward in the European countries it represents. The company now has gained clearances from more than 60 jurisdictions, including from the U.S. Justice Department, which found the merger would likely boost competition — not harm it.

Now, Paramount’s biggest obstacle is winning the case against Bonta and the other state attorneys general.

The states plan to request a trial in 2027, after the two sides conduct months of discovery to prepare their cases.

“We want to take depositions of employees. We want to take depositions of customers and competitors in these marketplaces that are impacted [and] we want documents,” Bonta said.

“We want to depose their experts and probe and test their experts’ opinions,” he said. “That all takes time.”

Bonta and the other state attorneys sidestepped the political landscape in making their lawsuit arguments.

“This is just a straight-up meat-and-potatoes antitrust case,” Bonta said. “The main point here is that antitrust enforcement is important because monopolies that lessen competition hurt everyday people.

“Once we have a trial, we’re going to win,” Bonta said. “So we think and we hope there will never be a merger.”

Theo Burrell’s husband Alex confirmed the tragic news in an Instagram post saying that her death came much quicker than anticipated following a cancer diagnosis

An Antiques Roadshow star has tragically died as her heartbroken husband paid tribute calling her an “incredible person”.

Theo Burrell’s husband Alex confirmed the tragic news in an Instagram post, saying that her death came much quicker than anticipated following a cancer diagnosis.

He shared a snap of the 39-year-old cuddling a dog as he wrote: “It is with great sadness that I share the news that Theo passed away peacefully surrounded by her family on Wednesday afternoon.

“Neither she nor her medical team foresaw this happening quite so quickly. She was an incredible person who fought hard for her family, friends and raising awareness of this cruel disease.”

He went on: “She saw life events like her son’s first day at school and her wedding that a little over 4 years ago we thought she’d never see.

“The cancer community provided so much comfort and strength to her in her darkest moments. But most of all it provided hope and I think what she would want most of all is for other people to find hope in her story. Hope that the statistics aren’t gospel and that one day they’ll be very different.”

Back in June, Theo shared that it had marked four years since she was diagnosed with glioblastoma – a malignant brain tumour, reported the Express.

At the time, the BBC star shared that she had surpassed the prognosis handed to her by doctors at diagnosis, when she was given 12-18 months to live.

She wrote: “On 7th June this year, I marked 4 years since my glioblastoma diagnosis. Like other GBM patients I was expected to live for 12-18 months.

“In the wake of that news I had many dark thoughts including that I wouldn’t see my son’s 2nd birthday let alone him starting school, but I’m lucky enough to say I did! And no one can take that away from me.

“Life since second surgery in Jan this year has definitely been a bit up and down. My peripheral vision on the left has gone and I’m having to take it slowly wherever I go. My coordination is not what it was.

“However this week Alex and I got the help of my parents (thank you so much GM & GI) and we’ve made it to the Lakes for 4 nights of chilling out. Having such warm weather has therefore been a bit of an extra bonus.

“Of course the next scan looms but I’ve dug deep and found a new bit of determination (which does not always come easy) to say to the GBM ‘I will not give up. Whatever the results, I’ll take stock, trust my oncologist and go from there.’

“So if you’re in the brain cancer world along with me – you’re not alone and we’ve just got to take it slowly but surely – every day we make is a bit of a win for us and a ‘GET LOST!’ to the illness!”

Theo became a Brain Tumour Research Patron in 2023 and tirelessly campaigned in Holyrood and Westminster to make the voices of brain tumour patients heard.

She played a pivotal role in helping the Charity launch the Scottish Brain Tumour Research Centre of Excellence where research is focused on moving new treatments for glioblastoma into clinical trials.

Dan Knowles, Brain Tumour Research CEO, said: “We are heartbroken that we have lost the phenomenal, determined and truly inspiring Theo Burrell to this devastating disease. She was always very open about her prognosis and knew from the outset her cancer was terminal, but she was absolutely determined to make a difference for others.

“She constantly inspired us with how big her heart was and we will continue on our mission, driven by everything she taught us. Our thoughts are with her family, her friends and with all those who had the privilege of knowing her.”

TWIN Peaks star Owain Rhys Davies has died aged 44.

Owain’s heartbroken family confirmed the news of his sudden death on social media, hailing him as “a brother to many” in a touching tribute.

The Welsh actor was best known for his role as Agent Wilson on Twin Peaks: The Return.

He also starred in Disney’s Alice Through The Looking Glass and A Serial Killer’s Guide To Life.

And his talents took him to the West End too, with appearances in London productions such as The Wizard of Oz and Mamma Mia!.

Owain’s brother Rhodri wrote: “It is with profound sadness that my father and I share the news that my brother, Owain, has passed away.

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“This news will come as a great shock to many. The reach of Owain’s love, friendship, and generosity was vast.

“While there are still questions that remain unanswered regarding the circumstances of his death, our understanding at this stage is that Owain passed suddenly, naturally, and peacefully.

“The outpouring of messages we have received over the past few days has been deeply moving and a testament to the impact he had on so many lives.

“Owain was fortunate enough to have more than one family.

“Alongside his biological one, he built extraordinary, family-like bonds with many of his closest friends, colleagues, and loved ones.

“I am incredibly proud that, while he was my brother, he was also a brother to so many others.

“We know that this loss will be felt by a great many people, and we take comfort in knowing how loved he was.”

Tributes have flooded in from celebs across the acting world, including Coronation Star Hayley Tamaddon.

The devastated actress, 49, described Owain as a “beautiful friend” in a heartbreaking tribute.

It read: “Heartbreaking to hear that my beautiful friend has passed away. Owain was loved by so many. He lit up Every room he went into.

“I have some wonderful memories of us together, we go back so many years.. but our time together in LA will always make me smile.

“Sleep well my love. My heart goes out to his friends, and family Rhodri and Conway.”

Downton Abbey star Joanne Froggatt said: “No words seem to convey my emotions. I am so sorry for your loss and the grief you must be feeling.

“I am devastated to lose our beautiful friend, he was more than a friend, he was joy and life and talent and kindness and fun and intelligence.

“He was everything and my brain can’t compute that we don’t get to hug him again.

“What I would give for one more hug. You’re forever in our hearts cariad.”

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