Netflix, Warner Bros Discovery and Paramount: What's the Deal

"In progressive circles, there is a great fear about the consolidation of Hollywood and the broader media into the hands of allies of MAGA. ABC's capitulation to Trump is well documented. Larry Ellison's son David bought Paramount: Stephen Colbert was suddenly off the air, and Bari Weiss was running CBS News. Oracle, Ellison's company, is the main benefactor of the still-pending TikTok acquisition from its Chinese parent."

"And Paramount made several overtures to Warner Bros. Discovery (WBD) to buy the company, consolidate its TV and film studios along with its array of cable channels under one roof, and put a conservative oligarch family in charge of CBS, CNN and a large segment of American entertainment and media. But WBD decided to look at other offers. And they chose the higher-value bid: an $82.7 billion merger with Netflix."

"(HBO Max carries most of those Discovery Global cable offerings, and it's unclear whether or how that will continue.) Just because there is some relief that Paramount won't be swallowing CNN and the rest of WBD, however, doesn't make this a good deal for film and television talent, or for consumers. Netflix and HBO Max are the number one and number four streaming outlets globally; number three is an Indian streaming network called JioHotstar that is not availabl"

Progressive observers fear consolidation of Hollywood and broader media into allies of MAGA. David Ellison's purchase of Paramount led to Stephen Colbert's sudden departure and Bari Weiss running CBS News. Oracle is the primary backer of the pending TikTok acquisition. Paramount sought to buy Warner Bros. Discovery to consolidate TV and film studios and cable channels, potentially placing CBS, CNN, and large entertainment assets under conservative oligarch control. Warner Bros. Discovery accepted an $82.7 billion offer from Netflix for its film and television studios, HBO, and HBO Max while spinning off cable networks into Discovery Global. The deal averts immediate conservative control but amplifies streaming concentration, raising concerns for talent, competition, and consumers.

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