Cory Booker Slams Paramount-WBD Merger Settlement But Blames Company And DOJ, Not State AGs

Sen. Cory Booker (D-CA) weighed in on the proposed settlement reached between Paramount–Warner Bros. Discovery and state attorneys general, criticizing the agreement, yet casting blame on the David Ellison-run company and the Justice Department. In a statement, Booker said, “This is what happens when federal enforcers abandon their posts. States are left to carry the fight alone, and even the strongest state enforcers cannot outlast a company willing to say anything and spend anything. That is not justice. That is a price tag.” Booker referred to Paramount’s threat to leave California if the state AG lawsuit blocked the deal, saying that such a vow “amounted to extortion.” Booker, the top Democrat on the Senate Judiciary antitrust subcommittee, held a “spotlight” hearing on the merger on Capitol Hill in April, with merger opponent Mark Ruffalo among the speakers. Ellison was invited but declined the invitation. The event was not an official Senate hearing, with members of both parties attending, but are designed to focus attention on an issue. Watch on Deadline The settlement agreement does not force Paramount to shed assets unless it fails to honor a list of behavioral remedies, including commitments on film production and theatrical and cable negotiations. Booker said, “This merger is illegal. It shrinks two of Hollywood’s major studios from five to four and combines two of the largest basic cable owners—putting nearly a third of the theatrical film market and nearly a third of basic cable programming under one roof. Behavioral promises cannot fix a structural problem. Media merger after media merger has ended the same way, with fewer jobs, lower wages, fewer stories told, and higher prices for families. Writers, crews, artists, theater owners, and consumers will pay the price.” A Paramount spokesperson said of Booker’s statement, “We are proud of our deal – we are building a stronger Hollywood with more stories, more choice, and more competition. Nearly 70 jurisdictions reviewed it and unanimously agreed.” Booker also expressed doubts about another provision of the settlement: An editorial review board to oversee CNN and CBS News compliance with editorial standards. But the senator said that the merger “threatens the First Amendment.” “An ‘independent’ editorial board handpicked by David Ellison and reporting directly to him will not stop the sweeping changes at CNN that President Trump says the Ellisons promised him. We have already seen what this administration does to the press—the President just barred reporters from the White House,” Booker said. The Wall Street Journal reported that Larry Ellison, the CEO’s father and a major investor in the merger, told Trump that it could overhaul CNN. A Paramount spokesperson told the Journal that no commitments were made “to any government body, State AG or federal agency regarding the future of CNN or any other news property.” Booker also said that the merger was “the product of corruption in plain sight.” Defense Secretary Pete Hegseth “stood in the Pentagon press room and said he couldn’t wait for the Ellisons to take over,” Booker said. “Paramount was a constant presence at the Justice Department once it needed the deal pushed through. But when Congress asked questions, the company ignored our inquiries and refused invitations to testify. On the night of the shareholder vote, Ellison hosted a dinner honoring President Trump. Then-Deputy Attorney General Todd Blanche, the official responsible for approving this deal, was in attendance.” Booker also said that he will examine “every merger this administration has approved,” a warning if Democrats win control of the Senate in the upcoming midterms.