On Thursday, Warner Bros. Discovery shareholders voted on a proposed sale to Paramount, with the special meeting set for 10 am ET and expected to be brief. The deal, struck in late February, values WBD at $31 per share in cash, a figure that has drawn intense scrutiny from industry groups, and lawmakers.
The vote comes amid a surge of opposition from unions, advocacy groups, and public figures who argue the merger would concentrate too much power in the hands of a single entity. The Writers Guild of America West warned that combining the two companies would eliminate head-to-head competition, harm writers, and eliminate jobs across the industry, while also threatening the diversity of storytelling by increasing the power of gatekeepers to decide whose stories get told.
Sen. Cory Booker (D-NJ) released a 13-minute video titled “Warner Bros-Paramount Merger, the Corporate Propaganda Monopoly: Ellison Media Cartel DEEP DIVE,” amplifying concerns that the deal would create a media behemoth with the leverage to reduce content, raise prices, and suppress worker compensation. His video was released as the WGA held a Zoom press conference with former FTC commissioner Alvaro Bedoya and journalist Jim Acosta, who noted that colleagues at CNN now see the “iceberg” and are bracing for impact.
Jim Acosta also referenced a recent comment by Defense Secretary Pete Hegseth stating that “the sooner David Ellison takes over that network, the better,” referring to WBD-owned CNN, highlighting the political dimensions of the deal given the Ellison family’s close relationship with President Trump. Paramount CEO David Ellison has promised to ramp up film and television production while targeting $6 billion in cost cuts, which he says are not all personnel-related.
The merger would place CBS News and CNN under the same corporate umbrella, a development that has drawn concern from journalists at both networks. At CBS, longtime reporters including justice correspondent Scott McFarlane have expressed disillusionment with the direction under Ellison and Weiss, with some leaving the network. CBS recently announced it would cease operations for CBS News Radio, which represents 6 percent of its workforce.
For more on this story, see Hollywood Professionals Protest Paramount-Warner Bros Merger.
Internally at CNN, staffers have reported feeling “shaken” by the prospect of the Ellisons taking control, fearing changes that could alter the network’s editorial direction. Critics point to moves already made under Ellison’s leadership, such as appointing conservative opinion writer Bari Weiss—who has no prior television experience—to lead CBS News and installing Ken Weinstein, a former Trump administration appointee, as an ombudsman tasked with policing bias.
Beyond immediate workplace concerns, the deal has drawn scrutiny from regulatory bodies. Last month, Sen. Booker called on the Federal Communications Commission to investigate foreign investment in the merger, which includes sovereign wealth funds from Saudi Arabia, Qatar, and the United Arab Emirates, as well as investment from China. Across the Atlantic, the UK’s Competition and Markets Authority is preparing to launch its own investigation into the deal.
The transaction also raises broader questions about the state of Hollywood, with critics arguing that the sale reflects a shift from enterprise capitalism to shareholder capitalism. Warner Bros. Had a year of stellar success, becoming the first studio to make over $4 billion in a single year and winning 11 Oscars, yet its CEO, David Zaslav, is positioned to receive a golden parachute worth $887 million for overseeing the sale.
This follows our earlier report, Hollywood Stars Sign Petition to Block Paramount-Warner Deal.
What are the main concerns raised by the Writers Guild of America regarding the merger?
The Writers Guild of America West warns that the merger would eliminate head-to-head competition between the two companies, harm writers, eliminate jobs across the industry, and threaten the diversity of storytelling by increasing the power of gatekeepers to decide whose stories get told.
How has the merger been received by journalists at CBS and CNN?
Journalists at CBS, including justice correspondent Scott McFarlane, have expressed disillusionment with the network’s direction under Ellison and Weiss, with some leaving the company. At CNN, staffers have reported feeling “shaken” by the prospect of the Ellisons taking control, fearing changes to the network’s editorial direction.
