Democrats are erupting in alarm with streaming giant Netflix bowing out of its deal to buy Warner Bros. Discovery leaving Paramount Skydance standing as the studio’s top bidder.
Democrats including New Jersey Senator Cory Booker, Mass. Sen. Elizabeth Warren, Calif. Sen. Adam Schiff, and a raft of state candidates and officials are red faced over the deal and many are fearful that President Trump will have influence over both Paramount and Warners if the former buys the latter.
Massachusetts Democrat Elizabeth Warren is calling the potential Paramount-Warners deal an “antitrust disaster.”
“A Paramount Skydance-Warner Bros. merger is an antitrust disaster threatening higher prices and fewer choices for American families. What did Trump officials tell the Netflix CEO today at the White House? A handful of Trump-aligned billionaires are trying to seize control of what you watch and charge you whatever price they want. With the cloud of corruption looming over Trump’s Department of Justice, it’ll be up to the American people to speak up and state attorneys general to enforce the la,” She said in a statement on Thursday.
California Democrat Adam Schiff also warned of undue political influence in the media with the proposed purchase of Warners.
“What was true for Netflix is still true now for Paramount. The merger of two of Hollywood’s biggest studios must be subject to the highest levels of scrutiny, free from White House political influence, to determine its impact on American jobs, freedom of speech, and the future of one of our nation’s greatest exports,” Schiff wrote in a statement of his own.
For his part, Sen. Booker is calling for Paramount chief David Ellison to testify before the Senate about his intentions over the deal, Deadline reported. Booker had also signed onto a Feb. 19 letter ordering Paramount to “all communications, information, documents, and any other records related to Paramount’s proposed acquisition of Warner Bros. Discovery.”
Other Democrats who are decrying the deal and posting alarms include California Democratic Attorney General Rob Bonta, and left-wing billionaire and candidate for California governor Tom Steyer. Oligarch Steyer accused Paramount of being part of the oligarchy.
These are but a few of the Democrat officials alarmed by the Paramount deal. Of course, they were just as alarmed by the Netflix deal, so, just the company names have changed.
The deal between Paramount and Warners is a long way from settled, granted. There is still an field of regulator hurdles to jump, congressional hearings, approvals, bank agreements, and other goals to achieve before the deal can close. But Warners is a big step closer to selling with Netflix dropping out.
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