Wall Street Chronicle

Exclusive | 34 CA Reps beg state AG to block ‘unprecedented’ Paramount-Warner merger

exclusive-|-34-ca-reps-beg-state-ag-to-block-‘unprecedented’-paramount-warner-merger

Exclusive | 34 CA Reps beg state AG to block ‘unprecedented’ Paramount-Warner merger

Dozens of California-based representatives sent a letter Thursday to the state’s attorney general urging him to conduct a “full and robust review” of the proposed acquisition of Warner Bros. Discovery by Paramount Skydance Corporation.

“If you determine that this merger would have anticompetitive effects, use your best judgment to pursue the appropriate course of action,” the letter, signed by 34 members of Congress representing different districts in California, reads.

The effort was spearheaded by Rep. Laura Friedman — representing California’s 30th Congressional District — whose office confirmed it had previously been in touch with Paramount about the merger.

“Hollywood workers are losing jobs and production is fleeing California. Anything that could make this worse, especially more consolidation, can’t go unexamined,” Friedman told The California Post. “That’s why a majority of the California members of Congress joined me in supporting Attorney General Bonta’s review of the Paramount-Warner Bros. merger.”

Laura Friedman speaks at a press conference with microphones from various news outlets in front of her.

Laura Friedman, the Representative from California led the charge. Variety via Getty Images

The letter’s concerns were reinforced by signatures from several high-profile Democrats, including Nancy Pelosi, Maxine Waters, Zoe Lofgren, Ted Lieu and Ro Khanna — some of the more nationally known Democratic lawmakers in Congress.

Paramount Skydance Corporation — the newly combined entity formed from Skydance Media and Paramount Global — has reportedly moved forward with a proposed $110 billion acquisition of Warner Bros. Discovery, a blockbuster merger that would create one of the largest media conglomerates in history.

Shareholders of Warner Bros. reportedly approved the merger on April 23, 2026, and the transaction is now awaiting regulatory approval in the United States and Europe ahead of a targeted closing later this year.

Under the deal, David Ellison is expected to lead the combined company, bringing together entertainment giants including Paramount Pictures, Warner Bros. Studios, streaming platforms Max, Discovery+ and Paramount+, as well as more than two dozen cable channels and networks including CNN, CBS News and TBS.

Paramount Global (now part of the Paramount Skydance entity) is a major media conglomerate that owns CBS, Paramount Pictures, Nickelodeon, MTV, Comedy Central, BET, and Showtime. REUTERS

David Ellison is the Chairman and Chief Executive Officer (CEO) of Paramount Skydance. Getty Images for Paramount

Oracle co-founder Larry Ellison is a prominent tech billionaire and top financial ally of Donald Trump. AP

The letter warned that California’s film industry is already suffering from falling production and major job losses, citing a 13.2% decline in filming in Los Angeles and more than 42,000 entertainment jobs lost in Los Angeles County between 2022 and 2024.

Lawmakers also expressed concern that the proposed merger’s planned $6 billion in cost cuts could result in significant additional layoffs.

“I’ll keep making sure that consolidation is scrutinized so that we’re protecting hardworking Angelenos,” Friedman said.

The lawmakers’ push comes after more than 4,000 entertainment industry workers signed a separate open letter urging regulators to block the deal, including actors and filmmakers such as Jane Fonda, Ben Stiller and J.J. Abrams.

Larry Ellison and his son have maintained close ties to President Donald Trump, with Larry serving as a major donor while Trump publicly praised David’s Skydance takeover of Paramount in 2025.

Maxine Waters has been a member of the United States House of Representatives for over 35 years. Getty Images

Rep. Ro Khanna (D-CA), representing California’s 17th Congressional District (Silicon Valley), has embraced a “modest” wealth tax on billionaires. Getty Images

The Trump administration has indicated support for this new merger.

“It is also impossible to overlook the unprecedented politicization of antitrust enforcement by the Trump Administration,” the lawmakers wrote in the letter, noting they did not have “confidence that the Trump Administration review of the merger will be conducted according to the law.”

Rob Bonta is actively investigating the proposed $111 billion acquisition of Warner Bros. Discovery by Paramount/Skydance. Rod Lamkey / CNP /MediaPunch

This letter also comes after Bonta announced in February, that “California is taking a very close look” at the dea.

“The proposed Warner Bros. transaction must receive a full and robust review,” Bonta said at the time. “We are committed to fighting market consolidation that we find unlawful.”

The California Post has reached out to the attorney general’s office for comment on where the review stands, as well as to Paramount Skydance Corporation for comment.

Exit mobile version