The Battle for Warner Bros: Netflix and Paramount Skydance Compete in $108 Billion Merger War
Netflix is set to acquire Warner Bros Discovery's studio and streaming assets for $82.7 billion. However, this has triggered a hostile bid from Paramount Skydance valued at $108 billion.
The deal faces rigorous regulatory scrutiny for anti-competitive risks. The Department of Justice's antitrust division, led by Gail Slater, alongside state attorneys general, could challenge the merger, referencing the 2017 AT&T-Time Warner case as a precedent.
Donald Trump has signaled possible involvement in the merger review, suggesting he could influence the outcome and proposing conditions such as retaining CNN under the merged entity. Paramount is backed by Larry Ellison and run by David Ellison, with funding from Jared Kushner's Affinity Partners. There have also been prior discussions during the Trump White House about Paramount owning CNN.
Senators, including Elizabeth Warren, have called for a fair and independent review process, warning against perceived political favoritism in the antitrust evaluation.
Both Netflix and Paramount argue for a smoother regulatory path and have employed officials with ties to Trump. Notable personnel include Makan Delrahim representing Paramount and Virginia Boney Moore for Netflix.
