"Paramount Skydance announced its $108 billion hostile takeover bid for Warner Bros. Discovery earlier in the week, and it was later revealed that Jared Kushner's private equity firm was backing the deal. David Ellison, who runs Paramount Skydance, recently took over CBS News and is looking to add CNN to his holdings, further consolidating U.S. news media. David Ellison's father, Oracle billionaire Larry Ellison, is a close ally of the Trump administration."
"Paramount's offer came amid Netflix's exclusive negotiations to buy Warner Bros. Discovery for $83 billion, excluding CNN, which would remain an independent company. A handful of giant corporations already control much of the media. Trump wants to make it worse. He vows to be involved in allowing his billionaire allies, his son-in-law, and the Saudis, Qataris and Emirates to buy Warner Bros."
Paramount Skydance launched a $108 billion hostile takeover bid for Warner Bros. Discovery, later revealed to be backed by Jared Kushner's private equity firm and participating sovereign wealth funds from Saudi Arabia, Abu Dhabi, and Qatar. David Ellison, who runs Paramount Skydance, recently took over CBS News and is pursuing acquisition of CNN, further consolidating U.S. news media. Netflix remained in exclusive negotiations to buy Warner Bros. Discovery for $83 billion excluding CNN. Critics warned that permitting billionaire allies, family members, and Gulf funds to acquire major media assets would intensify media consolidation and pose risks to democratic accountability.
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