Democrats are expressing concern after Netflix decided to cancel its deal to purchase Warner Bros. Discovery, positioning Paramount Skydance as the leading contender for the studio.
Prominent Democrats, including Senators Cory Booker from New Jersey, Elizabeth Warren from Massachusetts, and Adam Schiff from California, along with several state officials and candidates, are visibly distressed. There’s a shared worry that if Paramount acquires both Warner and itself, President Trump might gain influence over these companies.
Senator Warren labeled the potential merger between Paramount and Warner as a significant antitrust issue. She noted, “The Paramount Skydance-Warner Bros. merger poses a threat by potentially raising prices and limiting options for families across America. What conversations did Trump’s officials have with Netflix’s CEO today? A few billionaire supporters of Trump seem to be trying to dictate what viewers see and at what cost. Amidst the corruption clouding Trump’s Justice Department, it’s imperative that Americans voice their concerns and state attorneys general enforce the laws,” she stated in a recent release.
Similarly, Senator Schiff cautioned about the risk of excessive political sway in media due to the potential acquisition by Warner.
“The same scrutiny that applied to Netflix should apply to Paramount: combining two major Hollywood studios demands careful examination free from any White House influence, considering its effects on jobs, free speech, and the future of one of the nation’s key industries,” Schiff remarked in his statement.
Senator Booker is urging Paramount’s head, David Ellison, to come before the Senate to clarify his intentions regarding the merger. He also sent a letter on February 19, requesting Paramount to manage “all communications, information, documents, and other records connected to its planned acquisition of Warner Bros. Discovery.”
Other Democrats voicing their disapproval of the merger include California’s Attorney General Rob Bonta and billionaire gubernatorial candidate Tom Steyer, the latter accusing Paramount of participating in an oligarchy.
These concerns reflect a broader wariness among Democratic officials regarding the Paramount deal. Notably, their hesitations mirror those expressed about the previous Netflix agreement, just with a name change.
Even though there’s no finalized agreement between Paramount and Warner, numerous regulatory challenges, congressional hearings, approvals, banking arrangements, and other criteria must yet be met before any deal can be completed. Nevertheless, Warner’s exit from the Netflix arrangement has moved it considerably closer to a potential sale.
