If David Zaslav has any hope of keeping Warner Bros. Discovery out of the maws of David Ellison and Paramount Skydance, he’s going to have to make a cogent and effective argument that, in the long run, WBD shareholders will be better off with the breakup plan that he set in motion in June, and which is expected to become effective by next April. He’s no doubt got bankers at Goldman Sachs working overtime putting together the deck, along with backup Excel spreadsheets, to make that very point—if and when the Ellisons get around to coughing up a bid for all of WBD. The New York Post is reporting that the Ellisons have asked “major private equity firms,” such as Apollo, to join their WBD bid, should there be one.