Senator Elizabeth Warren (D-Massachusetts) has called for scrutiny regarding two proposed acquisitions of Warner Bros. Discovery. In a recent interview, Senator Warren stated that these deals raise significant concerns related to antitrust and could potentially reduce competition for both consumers and workers.
Proposed Acquisitions
Warner Bros. Discovery previously entered an agreement for an $83 billion sale to Netflix. This transaction is currently not finalized. Additionally, Paramount Skydance, a company owned by Larry Ellison and his son David Ellison (founder of Skydance Media), is reportedly pursuing a hostile takeover of Warner Bros. Discovery.
Senator Warren's Concerns
Senator Warren indicated that Paramount Skydance's bid introduces further concerns. She cited the Ellison family's reported ties to former President Trump and foreign investors as factors. Warren articulated a warning that such a deal could lead to a single entity wielding extensive control over media content, potentially influencing:
- The production of movies
- The offerings available on streaming services
- The pricing structure for consumers
Furthermore, Senator Warren raised questions about the potential for news content to be influenced or controlled by individuals with political affiliations, specifically mentioning a political ally of the President.