Chairman & CEO Paramount David Ellison attends the UFC 324 event at T-Mobile Arena on January 24, 2026 in Las Vegas, Nevada.
Jeff Bottari | Ufc | Getty Images
If there’s one thing that Paramount Skydance CEO David Ellison knows well, it’s an impossible mission.
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Ellison, producer of five of the “Mission: Impossible” films, has been trying to buy Warner Bros. Discovery for nearly six months. In September, he sent an initial, unsolicited offer to WBD, prompting the rival media company to explore a sale process that resulted in an agreement with Netflix to sell the famed Warner Bros. film studio and WBD’s prestige streaming assets.
The Warner Bros. movie studio is a big part of why Ellison has been so committed to winning over WBD’s board and its shareholders.
Last year, Warner Bros. was the second-highest grossing studio at the domestic box office. Paramount was fourth.
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A longtime Hollywood executive, Ellison has produced some massive hits at the box office, but his track record has been far from consistent.
Where Netflix has a fraught relationship with theatrical releases — disrupting the traditional business and opting for years to prioritize streaming films for its subscribers — Ellison’s production company, Skydance, has followed the tried-and-true theatrical playbook.
Taking ownership of Warner Bros. would be a gamechanger for either company.
“If a merger were to be approved, the entity that then grabs up Warner Bros. would add tremendous horsepower both in terms of brand identity and revenue generating potential to their portfolio,” said Paul Dergarabedian, head of marketplace trends at Comscore. “So, it is understandable why the competition is fierce among the potential suitors vying for their chance to acquire the studio.”
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A history of Skydance at the box office
Skydance released its first theatrical feature in 2006, a World War I drama featuring James Franco as a U.S. fighter pilot. Over the last two decades, the studio has launched nearly 30 films, the majority of which were in partnership with Paramount, according to data from Comscore.
Paramount and Skydance completed their merger, engineered by Ellison, in August.
Skydance’s biggest successes have come from one source in particular — Tom Cruise. The studio’s six highest-grossing films globally all star Cruise, including five “Mission: Impossible” films and the breakout 2022 hit “Top Gun: Maverick.”
Highest-grossing Skydance films globally
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“Top Gun: Maverick” (2022) — $1.4 billion
“Mission: Impossible — Fallout” (2018) — $791 million
“Mission: Impossible — Ghost Protocol” (2011) — $694 million
“Mission: Impossible — Rogue Nation” (2015) — $682 million
“Mission: Impossible — The Final Reckoning” (2025) — $599 million
“Mission: Impossible — Dead Reckoning: Part One” (2023) — $571 million
“World War Z” (2013) — $540 million
“Star Trek Into Darkness” (2013) — $467 million
“Transformers: Rise of the Beasts” (2023) — $441 million
“Terminator Genisys” (2015) — $440 million
Source: Comscore
Having a billion-dollar film under your belt is no small feat, especially in the wake of the pandemic.
The theatrical business has been in flux in recent years as consumer habits have shifted, studios grapple with how long movies should play in cinemas before hitting the home market, and streaming siphons away potential releases.
For comparison, Disney has released six billion-dollar films since 2021: “Avatar: The Way of Water,” “Inside Out 2,” “Deadpool & Wolverine,” “Moana 2,” “Zootopia 2” and “Avatar: Fire and Ash.”
Warner Bros. had 2023’s “Barbie,” Universal had “The Super Mario Bros. Movie” that same year, and Sony had “Spider-Man: No Way Home” in 2021, according to Comscore data.
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Tom Cruise in “Top Gun: Maverick”
Source: Paramount
However, “Top Gun: Maverick” is a bit of an outlier for Skydance. In addition to being the studio’s only billion-dollar film, it’s also the only film in its library to exceed $230 million domestically.
In fact, only five of Skydance’s features to date have generated more than $200 million in the U.S. and Canada.
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Skydance’s highest-grossing domestic films
“Top Gun: Maverick” (2022) — $718 million
“Star Trek Into Darkness” (2013) — $228 million
“Mission: Impossible — Fallout” (2018) — $220 million
“Mission: Impossible — Ghost Protocol” (2011) — $209 million
“World War Z” (2013) — $209 million
Source: Comscore
Globally, the production company has seen seven of its films generate more than $500 million in ticket sales, which would be a bigger feat — if budgets for many of these films weren’t so high.
“The challenge for Ellison and Skydance, as it is for every studio, production company, and distributor, is to keep budgets in line particularly for latter installments of major franchises as these tend to have diminishing returns as compared the earlier releases to justify the continued investment in these movie franchises,” said Dergarabedian.
Of course, Skydance split production costs with its studio partners, so it’s unclear exactly how much the company put toward each film it produced. Still, many of its franchise films saw budgets balloon with each new installment.
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Look at the most recent “Mission: Impossible” film. “Mission Impossible: The Final Reckoning” generated $599 million at the global box office, the fourth-best showing for a film in the franchise. However, the film had a reported budget of $400 million. That’s before marketing costs, which usually run at about half of the production budget.
General views of the TCL Chinese Theatre promoting the new Tom Cruise film ‘Mission: Impossible The Final Reckoning’ in IMAX on May 23, 2025 in Hollywood, California.
Aaronp/bauer-griffin | Gc Images | Getty Images
So, Skydance in conjunction with Paramount would have spent an estimated $600 million ahead of the “The Final Reckoning’s” release in theaters. And that $599 million brought in from ticket sales gets split.
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Studios share box office proceeds with theater operators, typically in a 50-50 split by the end of a film’s run in theaters.
The result is often a movie that performed well at the box office, but ultimately was not profitable for the studios that produced it. And unlike some franchises — think Marvel, Star Wars or Harry Potter — Mission: Impossible doesn’t have a robust merchandising arm or as much demand from fans for things like toys, apparel or collectibles.
A mountain of content
In merging with Paramount, Ellison’s Skydance now has more properties that fall under the production company’s designation. That includes the lucrative Sonic the Hedgehog franchise and upcoming films like “Scream 7,” “Paw Patrol 3,” “Street Fighter,” “Scary Movie 6” and “Focker-in-Law,” the latest installment in the Robert De Niro-led Meet the Parents franchise.
However, Paramount’s slate of franchises still aren’t quite the heavy hitters that WBD carries on its roster.
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Still from Paramount’s “Sonic the Hedgehog 2.”
Paramount
“Warner Bros. is one of the crown jewels of the theatrical distribution,” said Dergarabedian. “Their slate of films, filmmaker relationships, brand recognition, and reputation as one of the premier and iconic movie studios makes them a coveted asset by any player in the entertainment space.”
WBD has in its library DC’s superheroes, Harry Potter, Lord of the Rings, Game of Thrones, Looney Tunes and Scooby-Doo. It is also the distributor of Legendary’s Dune and Godzilla and King Kong franchises.
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“In Paramount’s specific case, the studio’s box office market share has often been challenged to keep pace with competitors and its own peak performance in the years leading up to 2015,” said Shawn Robbins, director of analytics at Fandango and founder of Box Office Theory. “While occasional hits such as the Sonic, A Quiet Place, and Scream franchises have provided bright spots, plus ‘Top Gun: Maverick’ catching lightning in a bottle four years ago, some of the studio’s most bankable IP has seen diminishing returns among modern moviegoers.”
Paramount Skydance needs consistency at the box office and well-known and beloved franchises are one way to do that. Of course, just having a big name doesn’t guarantee box office success, but it lowers the barrier to entry.
“Paramount is looking to mine every opportunity it can following the recent conclusion of Tom Cruise’s Mission: Impossible series, the regression of Transformers from its biggest blockbuster dollar days, and the cinematic dormancy of Star Trek as that brand has been re-focused toward multiple streaming series targeted at its predominately older audience,” Robbins said.
Disclosure: Versant is the parent company of CNBC and Fandango.
Site neighbours land where another developer is planning 120 homes
Belinda Ryan and Local Democracy Reporter
16:00, 25 Feb 2026
An outline application has been submitted for 85 homes on land south of Sandbach Road, Congleton (Image: FPCR Environment & Design)
Plans have been submitted for up to 85 homes in the open countryside at Congleton on fields next to land where 120 dwellings are also proposed.
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Nightingale Land has applied for outline permission to bulldoze existing farm outbuildings on the site south of Sandbach Road and build up to 85 homes, including 30 per cent affordable.
It is next to land which is the subject of a separate planning application from Richborough Estates for up to 120 homes.
The Richborough application has not yet been determined by the council.
A planning statement submitted by Lane Town Planning on behalf of the Nightingale Land application, states: “The scheme could accommodate a range of house sizes and types in accordance with the council’s strategic housing market assessment.”
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It adds that, as a direct consequence of the pre-application consultation exercises, the proposed development has been reduced from 100 homes to 85 homes.
Access to the new site is proposed from Sandbach Road by way of a priority junction.
The document says the scheme would include significant areas of public open space and the retention and enhancement of natural habitat around the existing hedgerow areas as well as orchard tree planting.
It would also include an equipped children’s play area, trim trails and play features along walking routes within green corridors.
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Existing public rights of way crossing the site would also be retained and there would be new walking paths around the site.
The planning document states: “Market dwellings will be delivered by private house builders, with affordable housing either provided by, or in partnership with, a registered provider.
“Following a grant of consent, the site would be marketed immediately and sold as expeditiously as possible to one or more house builders who would submit the requisite reserved matters application(s).”
It adds it is anticipated the development of the site would take around 3.3 years to complete.
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At the time of writing there has been one objection posted on the planning portal on Cheshire East Council’s website.
The objector says: “This proposal follows a recent application for 120 houses in the same vicinity, which would result in a cumulative total of approximately 200 new dwellings.
“If approved, this would have severe adverse impacts on local traffic, biodiversity, green infrastructure, and the character of the area.”
Coupang Inc.’s shares traded near $18.59 on February 24, 2026, down modestly amid investor caution over potential regulatory scrutiny in Korea and the United States, as well as costs from its Taiwan expansion, with the e-commerce giant set to report fourth-quarter 2025 results on February 26.
Coupang
As of February 24, 2026, Coupang (NYSE: CPNG) closed at $18.59, up 0.05% on the day after fluctuating in a range of $17.66 to $18.74 with volume of approximately 26.1 million shares. The stock has declined about 5-6% over the past week and remains well below 2025 highs near $34, reflecting a year-to-date pullback in 2026. Market capitalization hovers around $33-34 billion.
The recent pressure stems from broader concerns in the Korean internet sector and U.S. political dynamics. On February 24, shares slipped as investors weighed whether Coupang could become a bargaining chip in potential trade talks, following interim CEO Harold Rogers’ closed-door deposition before the U.S. House Judiciary Committee on February 23. Regulatory investigations tied to a November 2025 data breach have also weighed on sentiment, contributing to share weakness.
Coupang is scheduled to release Q4 2025 earnings after market close on February 26, with a conference call at 5:30 p.m. ET. The Zacks consensus estimates revenue of $9.14 billion—up 14.78% year-over-year—while projecting EPS of $0.02, down 50% from the year-ago quarter. The earnings mark has declined slightly in recent weeks, signaling caution around profitability pressures from international growth and the data breach fallout.
The company has expanded aggressively into Taiwan, with costs contributing to margin compression in recent periods. Analysts note that while revenue growth remains solid—driven by core South Korean operations, Rocket Delivery, and e-commerce momentum—profitability faces headwinds from these investments. Q3 2025 results showed EPS of $0.05 on $9.3 billion in revenue, beating expectations, but Q4 guidance and commentary will be key to assessing the Taiwan trajectory.
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On the analyst front, views are mixed. UBS lowered its price target to $25 from $35 on February 19, 2026, while maintaining a Buy rating, citing regulatory scrutiny as a drag. Bernstein initiated coverage on February 5 with an Underperform rating and $17 target, reflecting caution in the Korean internet space. Consensus among 11 analysts leans Hold to Moderate Buy, with average 12-month price targets around $27.70—implying about 49% upside from current levels. High targets reach $40, low ends around $17.
Coupang’s core business benefits from strong market position in South Korea, with high customer loyalty through fast delivery and membership perks. The company continues investing in logistics, private-label products, and international markets to diversify beyond domestic reliance. Recent small-business initiatives, such as helping Pennsylvania companies expand globally via Coupang, highlight efforts to strengthen ecosystem ties.
Risks include competitive intensity from local and global players, potential trade policy impacts, and execution on profitability amid expansion costs. The data breach investigations add uncertainty, though management has emphasized containment and customer protection.
The February 26 earnings release will provide critical updates on revenue trends, margin progress, Taiwan performance, and 2026 guidance. Positive surprises on subscriber growth or cost controls could spark a rebound; signs of prolonged pressure might extend downside.
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Coupang remains a key player in Asian e-commerce, with its logistics network and customer-centric model offering long-term potential. As the company navigates regulatory and expansion challenges, investor focus will center on proving sustainable profitability in 2026.
Backers aim to create ‘high-quality’ hub for ‘local grassroots sport’
Paul Faulkner and Local Democracy Reporter
16:00, 25 Feb 2026
Longridge Town FC’s ground(Image: Levitt Bernstein, via Preston City Council planning portal)
More than 200 homes and a raft of new and upgraded sports facilities could be created on the outskirts of Preston as part of a major residential and leisure development.
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The proposed Longridge Sports Village scheme would provide a “high-quality” hub for “local grassroots sport”, according to the organisations behind it.
Provision for football, gymnastics, padel and informal runs would sit alongside up to 220 new dwellings, all which would fall into the discounted ‘affordable homes’ category. More than 40 of the proposed properties are flats designed specifically for older people.
A 12-hectare site to the north west of the town has been earmarked for the project, adjacent to Longridge Town Football Club and Longridge Cricket Club.
Plans for the site – bounded by Inglewhite Road and Chipping Lane – first emerged last year when a public consultation was carried out into an initial blueprint.
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Now, Longridge-based Steel Work Construction and Preston social housing provider Community Gateway Association have submitted an outline proposal to Preston City Council, seeking planning permission for the project – which they say will plug “a recognised deficit in local sports provision”.
Their joint application sets out the specifics of the sporting plans, which include the creation of a seven-a-side 3G football pitch to serve the needs of Longridge Town’s junior club and the 300 players that make up its 20 teams. The facility would, it is claimed, put an end to the weather-related cancellations that beset the junior fixtures during winter – and would also be used by the senior team for training.
The existing grass pitch for the first team would be retained, with the clubhouse extended and improvements made for spectators.
Elsewhere, four covered padel courts are planned – for which there was “strong local support” expressed in last year’s public consultation, the application states.
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Meanwhile a permanent, purpose-built base is proposed for Longridge Gymnastics Club, which is currently forced to operate from rented facilities four miles out of town in Ribbleton.
A 1.5km “recreational running and walking route” also forms part of the plans – a facility that would be “integrated into the site’s network of green spaces for the benefit of the whole community”.
The plot sits in the open countryside, making it a location that would not usually be deemed suitable for significant development. However, the planning statement accompanying the sports village proposal stresses that it is not a “remote, isolated landscape”.
It adds that the surrounding area has become “an established focus for the town’s recent residential growth”, with planning permissions granted for new housing along Halfpenny Lane, Inglewhite Road, and Chipping Lane – making the sports village site “a logical and sustainable extension of the built-up area, rather than an intrusion into undeveloped countryside”.
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Meanwhile, an odour assessment undertaken on behalf of the applicants concluded there was only a “slight and not significant” risk of smells from the nearby pig farming operation at Belmont Farm affecting future residents and leisure users.
The proximity of the piggery was highlighted by the city council last year when it considered – and decided against – requiring an environmental impact assessment as part of the planning application for the sports village.
The assessment found that the southernmost parts of the site would be most affected by odours – and so that zone will not be used for residential development.
