Over the past six months, David Ellison made nine different bids for Warner Bros., and each time CEO David Zaslav swatted away the increasingly large pile of money from Ellison’s father and other investors, Ellison came back with more. $111 billion finally proved to be enough. ('The Wall Street Journal' summed up Ellison’s pursuit in a headline: “No. No. No. No. No. No. No. No. OK. Yes.”) All told, the auction forced Ellison’s Paramount to pay tens of billions more than it initially offered. Then again, what do the Ellisons care? “If one is rich enough to purchase a Hawaiian island, a second studio feels like a pittance,” a Hollywood producer who has worked with Ellison said. Now, Ellison has the Hollywood crown — as well as $79 billion in debt and a boatload of problems to solve. How do CBS and CNN coexist? Nickelodeon and Cartoon Network? The 65-acre Paramount studio lot in Hollywood and the 110-acre Warner Bros. lot up the 101 in Burbank? And how do you operate two movie studios under one corporate roof? Read Reeves Wiedeman's report about what happens next: