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Senator Elizabeth Warren Targets Media Mega-Merger Between Paramount and Warner Bros. Discovery

By  |  October 23, 2025

Senator Elizabeth Warren is raising new concerns about media consolidation as Paramount-Skydance reportedly pursues an acquisition of Warner Bros. Discovery (WBD), warning that the proposed deal could reduce consumer choice and drive up prices. According to The Wrap, the Massachusetts senator issued her warning in a video shared on X, highlighting what she views as the dangers of excessive corporate concentration in the entertainment industry.

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    “When we start to combine Paramount with HBO, CBS with CNN, Nickelodeon with Cartoon Network, suddenly you have fewer options and you have to pay whatever price they set to watch the news or some of your favorite shows,” Warren said in the video. “If the deal goes through, that’ll combine HBO, CBS, CNN, Nick, Cartoon Network, Animal Planet, HGTV and literally hundreds more channels all into one company. We have antitrust laws to put a stop to this kind of concentration. It is time we all sound the alarm bells and enforce the laws.”

    Per The Wrap, Warren’s comments come as both WBD and Paramount prepare to release their quarterly earnings in the coming weeks, with analysts expecting company executives to address the ongoing merger and acquisition speculation during their investor calls. Earlier this week, Netflix co-CEOs Ted Sarandos and Greg Peters also touched on industry consolidation when the streamer reported its own earnings.

    Read more: Paramount Skydance Explores Possible Bid for Warner Bros. Discovery

    According to The Wrap, Warner Bros. Discovery confirmed Thursday that it has received “unsolicited interest” from multiple parties and has begun a strategic review process to explore potential options. The company’s statement marked its first acknowledgment that it could be for sale, following reports that Paramount’s second acquisition bid had been rejected.

    While the details of any potential deal remain uncertain, WBD reiterated its plans to separate its operations next year, creating two independent entities—Warner Bros., focused on studios and streaming, and Discovery Global, encompassing linear television assets. The Wrap noted that interest has reportedly extended to the company as a whole and to the Warner Bros. division specifically.

    As merger speculation intensifies, other major players—including Comcast, Netflix, and Amazon—are rumored to be evaluating potential moves, though Wall Street analysts generally see Paramount’s David Ellison as the leading contender. His financial backing and political connections are seen as key advantages in what could become one of the largest entertainment mergers in recent years.

    Source: The Wrap