Paramount Skydance, controlled by the son of billionaire Larry Ellison, is positioned to acquire Warner Bros. Discovery after Netflix announced it was dropping its previously accepted bid to buy Warner. Critics called for antitrust laws to be used to block the Paramount-Warner merger.
Former Federal Trade Commission commissioner Alvaro Bedoya warned that the Ellison family could use control of large media holdings to engage in censorship, citing decisions described as canceling Stephen Colbertâs program and refusing to air an interview with Democratic U.S. Senate candidate James Talarico. Bedoya claimed the purchase would involve $24 billion from Saudi Arabia, Qatar, and Abu Dhabi.
Free Press co-CEO Craig Aaron said the merger would expand billionaire control over news coverage, TV stations, and studios and could lead to deep cuts. Writing in the American Prospect, David Dayen said state governments could still challenge the merger and warned that consultants were attempting to finalize the deal within weeks, making later unwinding difficult due to commingled assets and layoffs.
Sen. Ruben Gallego and Sen. Chris Murphy said Democrats would seek to break up such media conglomerates if they regain power.