Twelve Democratic-led states led by California sued this week to block Paramount Skydance’s $111 billion acquisition of Warner Bros. Discovery. Paramount is run by David Ellison, whose father, Larry Ellison, is the billionaire founder of Oracle and a prominent ally and financial backer of President Donald Trump. Under the proposed deal, CNN and CBS News, streaming services HBO Max and Paramount+, as well as film and television studios, would all be combined under a single entity controlled by the Ellisons. The states’ lawsuit comes after the Trump administration approved the megamerger last month.
“This proposed merger breaks the law,” says California Attorney General Rob Bonta. “It’s anti-competitive. It will raise prices. It will lower quality.”
