David Ellison, the 43-year-old chief executive of Paramount Skydance, stands on the verge of adding Warner Bros. Discovery to his empire after settling antitrust lawsuits with 12 states. The $111 billion takeover will give him control of two businesses that helped invent the movie and television industries, creating an unprecedented media conglomerate spanning CNN, CBS News, HBO, MTV, BET, Comedy Central, TNT, Paramount+, HBO Max, and iconic franchises like Batman, Harry Potter, and Mission: Impossible.

Ellison, the son of Oracle co-founder Larry Ellison, arrived in Hollywood in 2006 at age 23 and was dismissed as "dumb money" and "The Kid Pays for the Picture." Now, veteran film financier Joseph M. Singer calls him "the Hollywood equivalent of Superman, Caesar and Midas combined," noting he'll have extraordinary influence over the industry. Unlike classic moguls Jack Warner and Louis B. Mayer, or even Disney's Bob Iger, Ellison combines the roles of controlling owner, chief executive, and hands-on producer.

Critics warn of consolidation dangers. The combined entity would carry roughly $79 billion in net debt. Block the Merger, organized by the Future Film Coalition, opposes the deal as harmful to film, independent journalism, and democracy. Ellison's ties to President Trump — including an April dinner "honoring the Trump White House" — have made many Democrats wary. The states relented after Ellison agreed to concessions addressing competition concerns in movies and cable TV.