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Paramount’s “No Good, Very Bad Week” — David Ellison faces chaos as Taylor Sheridan exits, layoffs hit, and Warner Bros. deal collapses

After a golden start to his reign, David Ellison’s honeymoon phase as Paramount’s new owner is over — with Taylor Sheridan jumping ship, massive layoffs, and Warner Bros. Discovery rejecting his multibillion-dollar acquisition bid.

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Paramount’s rough week: Taylor Sheridan exits, layoffs hit, Warner Bros. rejects David Ellison’s offer
Paramount owner David Ellison faces a turbulent week of exits, layoffs, and rejection after Warner Bros. turned down his takeover bid.

There’s no need for Halloween costumes at Paramount Global this week — the real-life horror show is already playing out.

After months of optimism following the Paramount–Skydance merger, the media giant now finds itself navigating what industry insiders are calling its “No Good, Very Bad Week.” New owner David Ellison, who was once hailed as the studio’s savior, is facing mounting challenges: top talent leaving, massive internal layoffs, a rejected merger bid, and increasing skepticism about his leadership.

The troubles mark a sharp contrast to Ellison’s initial hero’s welcome when the $8 billion Skydance deal closed in August. In those early weeks, the 41-year-old CEO was on a spending spree — $7.7 billion for UFC streaming rights, $1.5 billion to re-up South Park, and millions more to lure the Duffer Brothers, creators of Stranger Things, away from Netflix. Hollywood cheered him as the man who was making Paramount cool — and competitive — again.

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But the applause is fading fast.

Taylor Sheridan’s shocking exit — a billion-dollar blow

The week’s biggest bombshell came when Taylor Sheridan, the creative powerhouse behind Yellowstone, 1883, and Mayor of Kingstown, announced his departure from Paramount+ to sign a colossal new deal with NBCUniversal reportedly worth nearly $1 billion.

Sheridan’s exit was particularly shocking given that Ellison once called him “a singular genius with a perfect track record.” Yet Paramount didn’t even make a counteroffer to keep him — a decision that has baffled Hollywood insiders.

“It’s hard to spin this as a smart play,” one executive told Daily Global Diary. “You don’t just let your top showrunner — the guy who built your streaming brand — walk away without a fight.”

Sheridan’s Yellowstone universe has been the backbone of Paramount’s streaming success, driving millions of subscriptions. Losing him not only dents Paramount+’s prestige but also hands NBCUniversal a creative juggernaut at a time when competition among streamers has never been fiercer.

Layoffs and leadership turmoil

While Sheridan’s exit grabbed headlines, hundreds of Paramount employees were facing a different reality — mass layoffs. The cuts, which insiders describe as “brutal and sweeping,” hit multiple divisions, including CBS News, Paramount Television Studios, and Paramount+.

The shake-up at CBS News has been especially chaotic. Sources say top executives are at odds over content strategy and staffing priorities, with long-standing journalists departing and newsroom morale reportedly “at an all-time low.”

“It feels like the company’s soul is being gutted,” one CBS producer said on LinkedIn. “People who built this place are being shown the door, while corporate plays musical chairs.”

Warner Bros. rejects Ellison’s $23.5 per share offer

As if internal drama weren’t enough, Ellison’s latest acquisition bid for Warner Bros. Discovery was also shot down this week.

Paramount’s rough week: Taylor Sheridan exits, layoffs hit, Warner Bros. rejects David Ellison’s offer


Ellison had reportedly made offers ranging from $19 to $23.50 per share for Warner Bros., hoping to create a media superpower that could rival Disney and Netflix. But sources close to David Zaslav — the Warner Bros. Discovery CEO — confirmed that the board unanimously rejected the proposal, calling it “not in the company’s long-term interest.”

As of Friday, Warner Bros. shares were trading at $22.42, making Ellison’s offer only a modest premium. Analysts have interpreted the rejection as a public vote of no confidence in Paramount’s stability.

“The idea of Ellison buying Warner Bros. seemed like a fantasy to begin with,” said media analyst Matthew Belloni. “He’s in the middle of internal fires and wanted to buy a bigger fire.”

The fall from Paramount’s golden moment

Just weeks ago, Ellison was celebrated as Hollywood’s new wunderkind — a young, visionary leader breathing life into an aging studio. His track record with Skydance Media, which co-produced blockbuster franchises like Top Gun: Maverick and Mission: Impossible, seemed to promise a new era of creative and commercial success for Paramount.

But the reality of running a legacy media company has proven more complex. Streaming growth has stalled, advertising revenue has slumped, and investor patience is wearing thin.

Even the company’s flagship streamer Paramount+, despite its aggressive global expansion, is losing billions annually. And without Sheridan — its most bankable content creator — the platform’s future looks increasingly uncertain.

“In this business, goodwill evaporates faster than a streaming subscription,” one studio insider told Deadline. “Ellison went from savior to scapegoat in under three months.”

Hollywood watches as Ellison recalibrates

Despite the turmoil, Ellison’s allies insist that he’s playing a long game — cutting costs now to rebuild smarter later. The CEO, son of Larry Ellison (founder of Oracle Corporation), is known for his meticulous planning and risk appetite.

“David is not a spender without strategy,” a Skydance executive told Variety. “He’s thinking 10 years ahead — he just has to survive year one.”

Still, the optics are brutal. Layoffs, creative departures, and a failed merger bid all in the same week have cast a shadow over what was supposed to be Paramount’s comeback era.

The road ahead: Can Paramount bounce back?

Paramount’s next few months will be critical. Insiders say Ellison’s team is already exploring new partnerships — possibly with Amazon Prime Video or Apple TV+ — to bolster its streaming and content strategy.

But repairing relationships, both inside and outside the studio, may prove harder than signing new deals.

Hollywood’s verdict? Paramount isn’t dead — but its golden age under Ellison has hit a storm.

“He started as Hollywood’s new hero,” one veteran producer said. “Now, he’s learning what every studio boss eventually does — money can buy you a lot in this town, but it can’t buy you stability.”

Entertainment

How ‘Avengers: Endgame’ Returned to Cinemas and Reclaimed Box Office Glory

Renewed ticket sales send Marvel’s 2019 finale past ‘Avatar’ to lead the all-time global chart again.

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How ‘Avengers: Endgame’ Returned to Cinemas and Reclaimed Box Office Glory

Seven years after its original release, Avengers: Endgame has unfinished business at the box office.

The Marvel Studios blockbuster has overtaken James Cameron’s Avatar to become the highest-grossing film worldwide once again. According to The Walt Disney Company’s October 4 announcement, Endgame now holds an estimated $2.9255 billion, narrowly ahead of Avatar’s $2.9237 billion. That puts just $1.8 million between two of cinema’s biggest hits.

The lead is small. The comeback, however, is substantial: a film released in 2019 has drawn enough fresh ticket sales to rewrite the all-time chart.

The ‘Encore’ release that tipped the balance

The latest theatrical run, titled Avengers Endgame: Encore, has earned $126 million worldwide, according to TheWrap. That includes $36.2 million in North America and $89.8 million from international markets—the extra business that pushed the film back into first place.

Audiences also had a reason to return beyond revisiting a familiar blockbuster. TheWrap reports that the reissue features a modified ending and three new scenes during and after the credits, connected to Avengers: Doomsday. The release therefore serves two purposes: bringing an established favourite back to cinemas and giving viewers a bridge to the next Avengers story.

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A rivalry with a history of reversals

This is another change of leadership in a box office contest that has lasted for years.

Endgame first displaced Avatar in 2019. Cameron’s science-fiction epic regained the crown following its Chinese re-release in 2021. Now, another theatrical return has swung the result in Marvel’s favour. Re-releases have become a decisive part of the competition, extending both films’ earning lives well beyond their original runs.

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The distinction matters: this is the record for worldwide theatrical revenue without adjustment for inflation, including re-release earnings. It measures money collected rather than the number of tickets sold.

Why ‘Endgame’ matters to ‘Doomsday’

The timing gives Marvel’s comeback an added significance. Avengers: Doomsday is scheduled to reach cinemas on December 18, 2026, and Disney has positioned Endgame as an important foundation for that next chapter.

Explaining the connection, Anthony Russo said: “You really need to pick the story up from where you left it in Endgame.”

That makes this return more than a victory lap. A film remembered for closing a major chapter of Marvel’s story is now helping introduce the next one—and, along the way, has taken back Hollywood’s most closely watched box office title.

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Entertainment

Tom Cruise’s ‘Digger’ Faces a Tough Opening: Could ‘Verity’ Take the Lead?

Cruise’s star power meets a fresh box office challenge as the Colleen Hoover adaptation emerges as a formidable rival.

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images Daily Global Diary - Authentic Global News
Tom Cruise’s ‘Digger’ Faces a Tough Opening: Could ‘Verity’ Take the Lead?

Tom Cruise has spent years persuading audiences to watch him attempt the impossible. With Digger, the challenge is different: convincing moviegoers to embrace an eccentric, darkly comic character who bears little resemblance to his familiar action heroes.

Directed by Alejandro González Iñárritu, the film arrives in US cinemas on October 2, 2026, carrying considerable expectations. Cruise plays Digger Rockwell, an oil tycoon confronting a catastrophe connected to his company’s actions. It is a conspicuous departure for an actor whose recent screen identity has been shaped by spectacular stunts and blockbuster franchises.

Yet the conversation before release has increasingly turned from Cruise’s transformation to a more uncomfortable question: how many people will buy a ticket?

ALSO READ : Emmy Nominations Announcement Gets a Star Twist… Liza Colón-Zayas & Jeff Hiller Set to Reveal 2026 TV Nominees

A costly film facing a modest opening

According to Koimoi’s September 30 report, Digger was tracking for a North American opening below $15 million, against a reported production cost of approximately $125 million. These are reported estimates, rather than confirmed earnings or a final accounting of the film’s costs.

That gap explains the concern surrounding Warner Bros.. An expensive production needs sustained attendance, and a subdued debut would place greater pressure on subsequent weekends and overseas markets.

An opening forecast cannot establish a film’s eventual profit or loss. It can, however, reveal how much work remains for the campaign.

Reviews have complicated the pitch

The critical response has been sharply divided. People reported reactions ranging from admiration for the film’s audacity and Cruise’s commitment to criticism of its scale, coherence and tone.

For potential ticket buyers, that creates an uncertain proposition. Cruise’s presence attracts attention, but attention does not automatically translate into enthusiasm for an unfamiliar kind of film.

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The promotional campaign has leaned into that disagreement. The Guardian described advertising that places harsh reactions alongside praise, using the controversy itself to generate interest. Whether that approach encourages curiosity or deepens hesitation remains an open question.

Why ‘Verity’ makes the weekend more intriguing

The Hollywood Reporter expects Digger to open substantially behind Verity, the Amazon MGM Studios adaptation of Colleen Hoover’s novel. hollywoodreporter.com

Starring Anne Hathaway, Dakota Johnson and Josh Hartnett, Verity is also scheduled to open on October 2. Its psychological-thriller premise centres on a writer who discovers a disturbing manuscript while completing another author’s book series.

From a marketing perspective, an established novel and a recognisable thriller setup could offer a more immediate hook. Digger, by comparison, asks audiences to take a greater leap into unfamiliar territory.

The audience verdict is still ahead

Cruise has clearly committed to that leap. At the London premiere, Reuters reported that his transformation involved prosthetics and a padded bodysuit, alongside a demanding performance.

The commercial outcome remains unresolved. Strong audience recommendations could give Digger momentum beyond its initial forecasts. A weak response would make its financial challenge harder.

For now, the film’s biggest suspense lies beyond the screen: whether curiosity about Cruise’s unusual gamble becomes an opening-weekend ticket purchase.

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‘Verity’ Could Outopen ‘Digger’: Why Tom Cruise Faces a Tough Contest

The competing releases raise a compelling question: which film will persuade more audiences to buy a ticket?

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rev 1 RGU 0170 COMP V433 INH r709g24 20260917.0086905 High Res JPEG H 2026 Daily Global Diary - Authentic Global News
‘Verity’ Could Outopen ‘Digger’: Why Tom Cruise Faces a Tough Contest

Tom Cruise has spent years persuading audiences to watch him attempt the impossible. With Digger, the challenge is different: convincing moviegoers to embrace an eccentric, darkly comic character who bears little resemblance to his familiar action heroes.

Directed by Alejandro González Iñárritu, the film arrives in US cinemas on October 2, 2026, carrying considerable expectations. Cruise plays Digger Rockwell, an oil tycoon confronting a catastrophe connected to his company’s actions. It is a conspicuous departure for an actor whose recent screen identity has been shaped by spectacular stunts and blockbuster franchises.

Yet the conversation before release has increasingly turned from Cruise’s transformation to a more uncomfortable question: how many people will buy a ticket?

ALSO READ : Emmy Nominations Announcement Gets a Star Twist… Liza Colón-Zayas & Jeff Hiller Set to Reveal 2026 TV Nominees

A costly film facing a modest opening

According to Koimoi’s September 30 report, Digger was tracking for a North American opening below $15 million, against a reported production cost of approximately $125 million. These are reported estimates, rather than confirmed earnings or a final accounting of the film’s costs.

That gap explains the concern surrounding Warner Bros.. An expensive production needs sustained attendance, and a subdued debut would place greater pressure on subsequent weekends and overseas markets.

An opening forecast cannot establish a film’s eventual profit or loss. It can, however, reveal how much work remains for the campaign.

Reviews have complicated the pitch

The critical response has been sharply divided. People reported reactions ranging from admiration for the film’s audacity and Cruise’s commitment to criticism of its scale, coherence and tone.

For potential ticket buyers, that creates an uncertain proposition. Cruise’s presence attracts attention, but attention does not automatically translate into enthusiasm for an unfamiliar kind of film.

rev 1 PRP 0290 COMP V080 DDO r709g24 20260917.0086701 High Res JPEG H 2026 Daily Global Diary - Authentic Global News


The promotional campaign has leaned into that disagreement. The Guardian described advertising that places harsh reactions alongside praise, using the controversy itself to generate interest. Whether that approach encourages curiosity or deepens hesitation remains an open question.

Why ‘Verity’ makes the weekend more intriguing

The Hollywood Reporter expects Digger to open substantially behind Verity, the Amazon MGM Studios adaptation of Colleen Hoover’s novel. hollywoodreporter.com

Starring Anne Hathaway, Dakota Johnson and Josh Hartnett, Verity is also scheduled to open on October 2. Its psychological-thriller premise centres on a writer who discovers a disturbing manuscript while completing another author’s book series.

From a marketing perspective, an established novel and a recognisable thriller setup could offer a more immediate hook. Digger, by comparison, asks audiences to take a greater leap into unfamiliar territory.

The audience verdict is still ahead

Cruise has clearly committed to that leap. At the London premiere, Reuters reported that his transformation involved prosthetics and a padded bodysuit, alongside a demanding performance.

The commercial outcome remains unresolved. Strong audience recommendations could give Digger momentum beyond its initial forecasts. A weak response would make its financial challenge harder.

For now, the film’s biggest suspense lies beyond the screen: whether curiosity about Cruise’s unusual gamble becomes an opening-weekend ticket purchase.

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