Elizabeth Warren Critiques Paramount Skydance’s Bid for Warner Bros. Discovery
U.S. Senator Elizabeth Warren (D-Mass.) has expressed strong opposition to the potential bid by Paramount Skydance Corp. for Warner Bros. Discovery Inc., warning that such a media merger could pose significant risks to competition in the industry. In a statement on social media platform X (formerly Twitter), Warren linked the proposed acquisition to past controversial approvals made during the presidency of Donald Trump.
Warren’s remarks came as shares of Warner Bros. Discovery surged by 28.95% on Thursday and continued to climb by an additional 9.77% in after-hours trading. Meanwhile, Paramount Skydance’s stock rose by 15.55% during regular trading and edged up by 0.23% after hours, according to data from Benzinga Pro.
Concerns Over Media Consolidation
Warren pointed to a previous incident involving Trump and David Ellison, CEO of Paramount Skydance, stating, “Remember when Trump announced a multimillion-dollar secret deal with CEO David Ellison? And then — shocker — Trump approved Ellison buying CBS/Paramount. Now, Ellison wants to take over CNN/Warner Bros. This media merger must be blocked as a dangerous concentration of power.”
This is not the first time Warren has raised alarms about Trump’s influence on media acquisitions. She previously criticized his role in approving the $8 billion merger between Paramount Global and Skydance, suggesting it warranted a formal investigation due to potential improprieties.
As of now, the White House and Paramount Skydance have not responded to requests for comment from Benzinga.
Paramount Skydance’s Bid Details
Reports indicate that Paramount Skydance is collaborating with an investment bank to prepare a potential all-cash offer for Warner Bros. Discovery. While no formal bid has yet been submitted, sources suggest that a proposal could surface as early as next week. Warner Bros. Discovery has announced plans to separate its global television operations from its studio and streaming businesses by April 2026. Any acquisition prior to this separation would necessitate the purchase of the entire company.
If successful, this merger would create a formidable entertainment powerhouse, combining the assets of Paramount Skydance—including CBS, Nickelodeon, MTV, BET, and Paramount+—with Warner Bros. Discovery’s offerings such as HBO, CNN, Warner Bros. Studios, and popular franchises like Harry Potter and DC Comics. Both companies also hold significant rights to U.S. sports, covering leagues from the NFL to MLB and various college athletic events.
Paramount Skydance was formed in August 2023 through the merger of Paramount and Skydance Media, backed by RedBird Capital Partners and led by Ellison. At the time, Ellison warned that restructuring and layoffs could exceed $2 billion as the new entity navigates the evolving media landscape.
As the situation develops, industry observers will be watching closely to see how this potential acquisition unfolds and what it could mean for competition in the media sector.
