Senator Warren Opposes Potential $70 Billion Media Megadeal as David Ellison Pursues Warner Bros. Discovery

Senator Elizabeth Warren (D-Mass.) publicly voiced strong opposition to media consolidation during an appearance on Stephen Colbert's show, directly challenging media mogul David Ellison's expanding influence. "We don't think one corporation or one man named David Ellison should be able to buy up all the shows and buy up all the sports and buy up all the news and decide who watches what," Warren stated, emphasizing her commitment to "stay in that fight." Her comments come amidst reports of Ellison's Skydance Media, which recently acquired Paramount Global, now eyeing a potential acquisition of Warner Bros. Discovery. This move highlights growing concerns in Washington regarding the concentration of media power.David Ellison, CEO of Skydance Media and son of Oracle founder Larry Ellison, recently completed an $8 billion takeover of Paramount Global in August, gaining control of CBS. Reports indicate his company is now weighing a significantly larger prize: a potential $70 billion-plus acquisition of Warner Bros. Discovery (WBD). Such a deal would bring major assets like HBO, CNN, and DC Studios under Ellison's control, creating one of the largest media conglomerates globally. This aggressive expansion has drawn scrutiny from lawmakers and industry watchers alike.Senator Warren's criticism centers on the potential for a single entity to wield excessive market power, influencing content creation, distribution, and consumption. She has previously raised alarms about the Paramount Skydance merger and has been a vocal opponent of unchecked consolidation in the media industry. Warren, along with other lawmakers, has also sent a letter to the Department of Justice urging a thorough investigation into the sale, emphasizing transparency and adherence to federal antitrust laws. Her stance reflects a broader concern about reduced consumer choice and potential price hikes.The regulatory landscape surrounding Ellison's ambitions is complicated by political considerations. Critics, including Senator Warren, have alleged that Paramount's $16 million settlement with former President Donald Trump over a "60 Minutes" lawsuit, made prior to the Skydance merger, was a move to smooth regulatory approval. The Trump administration reportedly favors Ellison's acquisition of Warner Bros. Discovery, further intensifying scrutiny over potential political influence in media deals. These allegations have fueled concerns about the independence and objectivity of news outlets under consolidated ownership.Media watchdogs and lawmakers fear that such extensive consolidation could lead to fewer independent voices and a narrowing of perspectives in news coverage. The Ellisons' growing media empire, which also includes Larry Ellison's stake in TikTok's US operations, raises questions about the ability of a few individuals to shape the political narrative. Experts suggest that acquiring WBD now could be a strategic move to preempt rivals and consolidate streaming services, but it also faces significant regulatory hurdles. The ongoing debate underscores the tension between market expansion and democratic media principles.