A proposed $111 billion merger that would place Warner Bros. Discovery under Paramount Skydance ownership is drawing scrutiny over potential job losses in Hollywood and threats to newsroom independence, as lawmakers raise concerns about the deal’s broader impact.
If completed, the takeover would give the Ellison family control of major media assets including HBO, CNN, CBS News, numerous cable channels, and two historic film studios. Paramount aims to finalize the merger by September following a deal reached last month after Netflix withdrew from negotiations.
The issue is heightened by the Ellisons’ ties to former President Donald Trump and recent shifts at CBS News under their leadership. Paramount previously paid $16 million to settle a lawsuit from Trump related to a “60 Minutes” interview, a case widely viewed by First Amendment experts as weak.
Since taking control, the Ellisons have already reduced the size and scope of CBS News, while CNN staff are reportedly anticipating similar changes, including shifts in editorial tone.
The Transaction also includes broader governance and strategic implications, with critics warning it could influence not only the future of Los Angeles’ entertainment workforce but also the independence of major U.S. news organizations.
Paramount declined to comment.