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Stop the Dangerous Warner Bros Takeover Before It’s Too Late

Hollywood is on the brink of a disastrous merger, and the DOJ must act immediately. Reporting from The New York Times, Deadline, Axios, and Semafor shows that Netflix and Paramount are racing to take over Warner Bros. Discovery — threatening jobs, competition, and media independence.

The stakes could not be higher. Deadline reports that more than 1,000 workers were laid off the last time Paramount changed hands, and unions warn this merger would trigger even deeper cuts and reduced creative opportunities. The New York Times notes that consolidation like this leaves consumers with fewer choices and higher prices.

Lawmakers from both parties are alarmed. Sen. Elizabeth Warren calls the situation a “five-alarm antitrust fire,” and Sen. Mike Lee says he has “grave doubts” about the deal and may launch Senate hearings.

Even more troubling, Axios and The New York Times reveal that Jared Kushner is helping to finance Paramount’s hostile bid using money from the sovereign wealth funds of Saudi Arabia, Qatar, and Abu Dhabi.

Corporate negotiators are pushing to finalize this deal within weeks. The DOJ’s Antitrust Division must step in now to protect workers, consumers, and our democracy.

Thanks,
Mary