Makan America Great Again

Makan Delrahim
This is an area where the Ellisons’ decision last month to hire veteran antitrust guru Makan Delrahim as Paramount’s chief legal officer could be advantageous. Photo: Mike Cohen/Getty Images for The New York Times
Dylan Byers
October 22, 2025

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At long last, David Zaslav has officially put Warner Bros. Discovery up for sale—or, you know, initiated “a review of strategic alternatives to maximize shareholder value” amid “unsolicited interest” from “multiple parties.” Of course, WBD has really been on the block since Zaz announced his intention to split the company in two, and especially since Skydance’s David Ellison first expressed interest in folding the whole thing into his burgeoning media portfolio. To date, Ellison has made three offers, the most recent and highest of which came in at $23.50 a share, which Zaz rebuffed earlier this week. On Tuesday, he opted to canvass the rest of the field instead.