{"id":5598,"date":"2026-03-03T17:20:50","date_gmt":"2026-03-03T17:20:50","guid":{"rendered":"https:\/\/marketsfortress.com\/index.php\/2026\/03\/03\/democratic-lawmakers-push-back-on-paramounts-potential-takeover-of-warner-bros-discovery\/"},"modified":"2026-03-03T17:20:50","modified_gmt":"2026-03-03T17:20:50","slug":"democratic-lawmakers-push-back-on-paramounts-potential-takeover-of-warner-bros-discovery","status":"publish","type":"post","link":"https:\/\/marketsfortress.com\/index.php\/2026\/03\/03\/democratic-lawmakers-push-back-on-paramounts-potential-takeover-of-warner-bros-discovery\/","title":{"rendered":"Democratic lawmakers push back on Paramount’s potential takeover of Warner Bros. Discovery"},"content":{"rendered":"

Democratic lawmakers and California\u2019s attorney general expressed deep skepticism about Paramount Skydance\u2019s potential takeover of Warner Bros. Discovery after Netflix abruptly pulled out of the bidding war Thursday<\/a>, the latest twist in a contentious and politically loaded corporate drama.<\/p>\n

WBD\u2019s board of directors still needs to formally approve Paramount\u2019s offer, and any deal between the two Hollywood giants \u2014 the owners of storied film studios and top streaming apps \u2014 requires sign-off from regulators. The board could meet as early as Friday, according to a source familiar with the matter. <\/p>\n

<\/div>\n

\u201cParamount\/Warner Bros. is not a done deal,\u201d California Attorney General Rob Bonta said in a statement. \u201cThese two Hollywood titans have not cleared regulatory scrutiny \u2014 the California Department of Justice has an open investigation, and we intend to be vigorous in our review.\u201d<\/p>\n

Bonta, a Democrat who took office in 2021, did not immediately respond to a request for comment on the next steps in his office\u2019s investigation. The U.S. Justice Department declined to comment on the WBD-Paramount transaction.<\/p>\n

The combined entity would be led by David Ellison, the son of Oracle mogul Larry Ellison, a close ally of President Donald Trump. \u201cLarry Ellison is great and his son David is great,\u201d Trump told reporters <\/a>in October. \u201cThey\u2019re friends of mine. They\u2019re big supporters of mine, and they\u2019ll do the right thing.\u201d<\/p>\n

\"Larry
Larry, left, and David Ellison watch tennis at the BNP Paribas Open in 2021.<\/span>Clive Brunskill \/ Getty Images file<\/span><\/figcaption><\/figure>\n

In recent months, lawmakers in both parties have warned that the takeover of WBD by either Netflix or Paramount risked concentrating too much power in one media and entertainment company. Sen. Elizabeth Warren, D-Mass., a key voice on competition issues, reiterated those concerns after Netflix dropped out Thursday afternoon.<\/p>\n

\u201cA Paramount Skydance-Warner Bros. merger is an antitrust disaster threatening higher prices and fewer choices for American families,\u201d Warren said in a statement. <\/p>\n

Warren alluded to Netflix co-CEO Ted Sarandos\u2019 meeting at the White House on Thursday: \u201cWhat did Trump officials tell the Netflix CEO today at the White House?\u201d The sit-down preceded Netflix\u2019s announcement that it would not match Paramount\u2019s offer for WBD assets.<\/p>\n

\u201cA handful of Trump-aligned billionaires are trying to seize control of what you watch and charge you whatever price they want,\u201d Warren added. \u201cWith the cloud of corruption looming over Trump\u2019s Department of Justice, it\u2019ll be up to the American people to speak up and state attorneys general to enforce the law.\u201d<\/p>\n

The White House did not immediately respond to a request for comment on Warren\u2019s statement.<\/p>\n

Politics have played a prominent role in the fight for WBD. Trump, who at one point said he might weigh in on the deal, told NBC News in early February he would not be \u201cinvolved\u201d in the proceedings. Then, last week, he warned Netflix it would \u201cpay the consequences\u201d if it did not fire board member Susan Rice, a former Biden administration official.<\/p>\n

The Senate Judiciary Committee\u2019s antitrust panel had planned to hold a March 4 hearing on competition issues related to the Netflix-WBD tie-up. In an email Friday morning, a spokesman for Sen. Mike Lee, R-Utah, the chairman of the subcommittee, said that the hearing would be canceled.<\/p>\n

\u201cNetflix\u2019s proposed acquisition of Warner Brothers raised serious antitrust concerns,\u201d Lee said. \u201cWhen a massive streaming platform consolidates even more TV shows and movies behind a single paywall, American families lose. Walking away from this deal is a win for consumers.\u201d<\/p>\n

Sen. Cory Booker of New Jersey, the top Democrat on the antitrust panel, described the proposed merger as \u201cfar from settled\u201d and said he has \u201crenewed\u201d his invitation for Ellison to testify before Congress.<\/p>\n

\u201cBecause I believe that the hearing should have proceeded as planned,\u201d Booker said in a statement, \u201cI intend to exercise Congress\u2019 oversight authority and scrutinize this deal just as we did the Netflix transaction. My office will announce those plans in the days ahead.\u201d<\/p>\n

Alvaro Bedoya, a former Democratic commissioner on the Federal Trade Commission, which enforces antitrust law, blasted the proposed deal in a post on X<\/a>. \u201cOne family is about to control CBS, CNN, HBO, and TikTok,\u201d Bedoya wrote, referencing Larry Ellison\u2019s role in a consortium of investors taking over TikTok\u2019s U.S. operations. \u201cBlock this rotten deal.\u201d<\/p>\n

The international reach of both WBD and Paramount means public officials outside the U.S. will also have an opportunity to weigh in, including European Union regulators.<\/p>\n

Paramount\u2019s bid for WBD is for the entire company, including the Warner Bros. film studio, HBO, the HBO Max streaming platform and a suite of cable channels that includes CNN. Netflix was looking to acquire only WBD\u2019s studio and streaming units, pending a spinoff of the cable portfolio into a separate entity.<\/p>\n

The prospective merger between WBD and Paramount would put CNN under the same roof as CBS News, a consolidation that could lead to job cuts and other big changes. Ellison has attempted to transform CBS News, most notably hiring former New York Times opinion columnist Bari Weiss as editor-in-chief of the division.<\/p>\n

The upheaval at CBS News has made national headlines in recent months. Weiss faced scrutiny after delaying a \u201c60 Minutes\u201d segment about the Trump administration\u2019s deportation policies. She said at the time that the reporting was not \u201cready\u201d for broadcast, and an updated version of the segment later aired. <\/p>\n

Craig Aaron, the co-CEO of Free Press, a consumer advocacy group, excoriated the potential WBD-Paramount merger, warning of dire consequences for the news media.<\/p>\n

\u201cThe Netflix deal was disastrous, but this new one is even worse,\u201d Aaron said in part. \u201cThe idea that Paramount should be allowed to control CBS and CNN should be unthinkable.\u201d (Free Press has no relation to The Free Press, the news and commentary publication co-founded by Weiss.)<\/p>\n

The Wall Street Journal reported in December<\/a> that David Ellison promised Trump administration officials he would make sweeping changes at CNN if Paramount acquired WBD. NBC News has not verified that report.<\/p>\n

Ellison\u2019s Skydance formally took over Paramount last year in a deal valued at $8 billion. The transaction required approval from the Trump administration\u2019s Federal Communications Commission, led by Chairman Brendan Carr. <\/p>\n

In seeking approval, Ellison assured the FCC that his incarnation of Paramount would focus on \u201cAmerican storytelling\u201d and scrap corporate diversity, equity and inclusion programs.<\/p>\n

Netflix\u2019s planned takeover of WBD also faced pushback from elected officials, including 11 Republican state attorneys general who, in a Feb. 24 letter, called on the U.S. Justice Department to scrutinize that transaction.<\/p>\n

Ten of the state attorneys general did not immediately respond to messages asking whether they would call for similar inquiries into the Paramount deal. In an email, a spokesman for Tennessee Attorney General Jonathan Skrmetti said \u201cevery proposed merger should be evaluated individually on its own merits.\u201d<\/p>\n

\u201cAttorney General Skrmetti\u2019s concerns set out in the letter were specific to the unique monopsony and monopoly risks posed by the proposed Netflix merger,\u201d said the spokesman, Phil Buehler.<\/p>\n

Sen. Adam Schiff, D-Calif., said Ellison\u2019s company deserves the same level of scrutiny.<\/p>\n

\u201cWhat was true for Netflix is still true now for Paramount,\u201d Schiff said on X. \u201cThe merger of two of Hollywood\u2019s biggest studios must be subject to the highest levels of scrutiny, free from White House political influence, to determine its impact on American jobs, freedom of speech, and the future of one of our nation\u2019s greatest exports.\u201d<\/p>\n

The high-stakes corporate maneuvering comes at a perilous time for Hollywood as it attempts to bounce back from Covid-era box office declines and a series of labor strikes. The traditional film and television industries are also grappling with the rise of AI and the wave of productions moving overseas because of tax breaks and other economic benefits. <\/p>\n

\u201cWe need to bring moviemaking back to our shores, increase production, and invest in our workforce,\u201d Schiff said. \u201cFor the sake of America\u2019s moviemaking workforce and movie lovers everywhere, I will continue to push all parties to do their part.\u201d<\/p>\n

Sen. Chris Murphy, D-Conn., did not mince words on Friday in a post on X<\/a>, explicitly promising to break up Paramount\u2019s media empire if Democrats retake power in Washington.<\/p>\n

\u201cParamount should enjoy its growing news monopoly while they have it because when Democrats win back power we are going to break up these anti-democratic information conglomerates,\u201d Murphy said. \u201cAll of them.\u201d<\/p>\n","protected":false},"excerpt":{"rendered":"

Democratic lawmakers and California\u2019s attorney general expressed deep skepticism about Paramount Skydance\u2019s potential takeover of Warner Bros. Discovery after Netflix abruptly pulled out of the bidding war Thursday, the latest twist in a contentious and politically loaded corporate drama. WBD\u2019s board of directors still needs to formally approve Paramount\u2019s offer, and any deal between the <\/p>\n","protected":false},"author":0,"featured_media":5599,"comment_status":"closed","ping_status":"closed","sticky":false,"template":"","format":"standard","meta":{"footnotes":""},"categories":[23],"tags":[],"class_list":{"0":"post-5598","1":"post","2":"type-post","3":"status-publish","4":"format-standard","5":"has-post-thumbnail","7":"category-business"},"_links":{"self":[{"href":"https:\/\/marketsfortress.com\/index.php\/wp-json\/wp\/v2\/posts\/5598","targetHints":{"allow":["GET"]}}],"collection":[{"href":"https:\/\/marketsfortress.com\/index.php\/wp-json\/wp\/v2\/posts"}],"about":[{"href":"https:\/\/marketsfortress.com\/index.php\/wp-json\/wp\/v2\/types\/post"}],"replies":[{"embeddable":true,"href":"https:\/\/marketsfortress.com\/index.php\/wp-json\/wp\/v2\/comments?post=5598"}],"version-history":[{"count":0,"href":"https:\/\/marketsfortress.com\/index.php\/wp-json\/wp\/v2\/posts\/5598\/revisions"}],"wp:featuredmedia":[{"embeddable":true,"href":"https:\/\/marketsfortress.com\/index.php\/wp-json\/wp\/v2\/media\/5599"}],"wp:attachment":[{"href":"https:\/\/marketsfortress.com\/index.php\/wp-json\/wp\/v2\/media?parent=5598"}],"wp:term":[{"taxonomy":"category","embeddable":true,"href":"https:\/\/marketsfortress.com\/index.php\/wp-json\/wp\/v2\/categories?post=5598"},{"taxonomy":"post_tag","embeddable":true,"href":"https:\/\/marketsfortress.com\/index.php\/wp-json\/wp\/v2\/tags?post=5598"}],"curies":[{"name":"wp","href":"https:\/\/api.w.org\/{rel}","templated":true}]}}