"Warren said the deals raise serious concerns about antitrust and would reduce competition for viewers and workers. Warner Brothers agreed to an $83 billion sale to Netflix, but that deal is not finalized. And now Paramount Skydance owned by Larry Ellison, one of the world's richest people, and his son David Ellison, founder of Skydance Media is pursuing the company through a hostile takeover."
"Warren said Paramount Skydance's effort raises added concerns, given the Ellisons' ties to President Trump and foreign investors. She warned the deal could leave "one person who basically decides what movies are going to be made, what you're going to get to see on your streaming service, and how much you're going to have to pay for it." Warren also raised questions about whether news could be "controlled by a political ally of the President.""
Two bids are underway to acquire Warner Bros. Discovery: an $83 billion proposed sale to Netflix that is not finalized, and a hostile takeover attempt by Paramount Skydance, owned by Larry Ellison and his son David Ellison. These competing bids raise serious antitrust and competition concerns that could reduce options for viewers and weaken bargaining power for workers. The Ellisons' ties to former President Trump and to foreign investors heighten worries about concentrated control over film production, streaming content selection, pricing, and potential influence over news. The situation calls for regulatory scrutiny to assess competition, consumer choice, labor impacts, and risks of political influence.
Read at www.npr.org
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