On Tuesday, Sen. Elizabeth Warren (D-Mass.) raised concerns about media consolidation, pointing to David Ellison's ties to President Donald Trump as he seeks control of Warner Bros. Discovery, Inc. (NASDAQ:WBD).
Elizabeth Warren Flags Media Monopoly Risk
In a post on X, formerly Twitter, Warren said, "One of Trump's billionaire buddies just bought Paramount. Now, he wants to buy Warner Bros," referring to Paramount Skydance (NASDAQ:PSKY) CEO Ellison.
She went on to add, "That means one giant company could control almost everything you watch on TV," listing channels including HBO, CNN, CBS News, Showtime and more.
The Massachusetts Democrat has previously criticized Trump's role in approving Paramount Global's $8 billion merger with Skydance, calling for an investigation into what she suggested could involve a "big fat bribe."
Warner Bros. Discovery Explores Strategic Options
On Tuesday, nine days after rejecting a Paramount Skydance offer, Warner Bros. Discovery announced that it would review all strategic options, including potential sale offers.
CEO David Zaslav said the company received "unsolicited interest from multiple parties" for the whole company and for Warner Bros. specifically.
Warner Bros. shares jumped 10.97% on Tuesday and gained another 2.31% in the after-hours trading, according to Benzinga Pro.
Paramount's Previous Move And Industry Implications
Last year, Warner Bros. nearly acquired Paramount, but the companies were unable to agree on the financial terms.
With Warner Bros. planning to split into two companies—one focused on global TV networks, the other on streaming and studios—any acquisition could significantly reshape the media landscape.
Comcast Corp (NASDAQ:CMCSA) and Netflix Inc. (NASDAQ:NFLX) have reportedly also expressed interest in parts of WBD.
Benzinga’s Edge Stock Rankings show that PSKY exhibits a strong price trend in the short, medium and long term. Additional performance details are available here.
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