Governor Gavin Newsom’s leading economic adviser might stand to gain significantly from the controversial acquisition of Warner Bros. Discovery by Paramount, which has ties to former President Trump.
Dee Dee Myers, who previously held a position at Warner Bros. and now leads the governor’s economic development office, could see her profits rise to as much as $280,000 from the sale of her former employer to Paramount Skydance, owned by David Ellison. This estimate comes from state filings detailing her financial interests.
The proposed share price of $31 could potentially bring about a profit ranging from about $28,000 up to $280,000, according to Myers’ economic disclosure forms submitted last year.
Myers, who worked as Warner Bros.’ communications executive from 2014 to 2020, indicated in a form last year that she owned between $10,000 and $100,000 in stock from the company. Based on the highest value in 2024, her Warner Bros. shares—estimated between 900 and 9,000—are projected to be worth between $28,000 and $280,000 following the sale.
It’s not clear when Myers obtained the stock, though it’s common for media executives to receive stock options as part of their pay. Her office did not respond promptly to inquiries regarding her holdings with Warner Bros.
The idea of Paramount acquiring Warner Bros. has stirred unease among some liberal Democrats and Hollywood insiders, particularly due to Ellison’s connections to the Trump administration, which some perceive as exerting political pressure over the deal.
Former Warner Bros. executive Bill Garber expressed concern, stating it’s unsettling to think that the president might prioritize one company over another.
Recently, a group of Democratic senators sent a letter urging Ellison to preserve all records associated with the transaction, raising alarms about possible political meddling. The proposed deal is subject to regulatory approval, and California Attorney General Rob Bonta announced an investigation over potential antitrust violations.
In a recent development, Netflix retracted its bid to purchase Warner Bros. Discovery, citing that it was “no longer financially attractive” given Paramount’s offer. Bonta remarked that his office would rigorously examine the transaction, indicating that regulatory hurdles remain for the Hollywood giants involved.
