Paramount CEO David Ellison said the company doesn’t comment on rumors amid ongoing and intense merger speculation around Warner Bros. Discovery .

“First and foremost, we are focused on what we are building at Paramount and today, 96 days in, we are more confident than ever,” he said on a call with analysts after quarterly earnings – the first since his Skydance acquired Paramount Global. He was asked to comment on how the company looks at M&A in general.

“I think it’s important to note that we really look at this as ‘buy versus build’ and we absolutely have the ability to build,” in content, in streaming, in long-term cash flow generation. That said, “we are fortunate that we have the balance sheet to be able to be opportunistic when we think M&A will accelerate our goals.” But aga

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