On Tuesday, Sen. Elizabeth Warren (D-Mass.) raised considerations about media consolidation, pointing to David Ellison’s ties to President Donald Trump as he seeks management of Warner Bros. Discovery, Inc. (NASDAQ:WBD).
Elizabeth Warren Flags Media Monopoly Danger
In a submit on X, previously Twitter, Warren stated, “One in every of Trump’s billionaire buddies simply purchased Paramount. Now, he desires to purchase Warner Bros,” referring to Paramount Skydance (NASDAQ:PSKY) CEO Ellison.
She went on so as to add, “Meaning one big firm may management virtually all the pieces you watch on TV,” itemizing channels together with HBO, CNN, CBS Information, Showtime and extra.
The Massachusetts Democrat has beforehand criticized Trump’s position in approving Paramount World’s $8 billion merger with Skydance, calling for an investigation into what she steered may contain a “large fats bribe.”
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Warner Bros. Discovery Explores Strategic Choices
On Tuesday, 9 days after rejecting a Paramount Skydance provide, Warner Bros. Discovery introduced that it might evaluate all strategic choices, together with potential sale affords.
CEO David Zaslav stated the corporate obtained “unsolicited curiosity from a number of events” for the entire firm and for Warner Bros. particularly.
Warner Bros. shares jumped 10.97% on Tuesday and gained one other 2.31% within the after-hours buying and selling, in keeping with Benzinga Professional.
Paramount’s Earlier Transfer And Trade Implications
Final 12 months, Warner Bros. almost acquired Paramount, however the corporations had been unable to agree on the monetary phrases.
With Warner Bros. planning to separate into two corporations—one targeted on international TV networks, the opposite on streaming and studios—any acquisition may considerably reshape the media panorama.
Comcast Corp (NASDAQ:CMCSA) and Netflix Inc. (NASDAQ:NFLX) have reportedly additionally expressed curiosity in elements of WBD.
Benzinga’s Edge Inventory Rankings present that PSKY reveals a powerful worth pattern within the quick, medium and long run. Extra efficiency particulars can be found right here.
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Disclaimer: This content material was partially produced with the assistance of AI instruments and was reviewed and revealed by Benzinga editors.
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