International politicians warned David Ellison that the Paramount-WBD merger could face intense U.S. and EU regulatory review.
A major media merger is drawing unusual attention from lawmakers abroad. with international politicians warning Paramount-Skydance CEO David Ellison that the planned takeover of Warner Bros.. Discovery will be forced through an extensive regulatory review in both the United States and the European Union.
The warning came after Paramount-Skydance announced its upcoming acquisition of Warner Bros.. Discovery. a transaction that has prompted concerns about what happens when rivals consolidate and market power shifts in culturally and economically sensitive media industries.. In a letter sent to Ellison on Thursday. a coalition of international leaders said the deal could face “significant regulatory concerns across multiple jurisdictions. ” underscoring how broad the scrutiny is expected to be.
Led by Congressman Sam Liccardo (CA-16) and Congresswoman Deborah Ross (NC-02). the group also included France’s Nathalie Loiseau. Italy’s Brando Benifei. and Germany’s Andreas Schwab.. They warned that some public messaging about the merger suggests it will face “minimal regulatory scrutiny” or be approved quickly. and they called that framing premature.
The lawmakers pointed out that shareholder approval. as they described it. does not change the depth and scope of the checks still required.. They said the transaction must undergo rigorous and comprehensive review under multiple frameworks. including competition rules. national security considerations. protections around editorial independence. and broader media and cultural plurality requirements.
They also stressed the role of government oversight in protecting consumers from consolidation.. In their view. if the transaction is not fully compliant with due authorization processes and the relevant legislation. it could reduce competition across connected markets—potentially affecting film and television production. content licensing. theatrical distribution. and streaming services.
From there, the letter warned that the merger could reduce consumer choice and increase prices.. It specifically noted that European institutions—through the European Commission and the European Parliament—will examine factors such as market definition. market share thresholds. whether customers have real alternatives. the effects of vertical integration. and downstream impacts across the EU’s Internal Market.
Financing is another focal point of the lawmakers’ concerns.. The coalition flagged what they described as “significant financing” coming from foreign sovereign wealth funds. citing reports that include funds associated with the United Arab Emirates. Qatar. and the Saudi Public Investment Fund.. They said those backers raise “serious questions” about national security. editorial independence. and foreign state influence. and they also raised the possibility of review by the Committee on Foreign Investment in the United States (CFIUS).
Media pluralism—whether the public’s access to a diverse range of editorial perspectives can be preserved—also drew attention.. The letter urged internal safeguards to ensure editorial decision-making remains independent of corporate shareholder interests. particularly those tied to third-country investors.
The politicians further pushed back against any implication that the transaction has already effectively cleared regulatory hurdles.. “Public trust requires a rigorous and transparent review process. ” the letter stated. adding that suggestions of deal certainty could be misleading.. They encouraged caution in public communications about expected timelines or approval odds. warning that it could mislead both shareholders and the public.
They also warned against creating artificial expectations in financial markets about deal certainty. noting that such statements could fuel protracted litigation.. In their framing. regulatory outcomes should remain independent determinations grounded in statutory standards rather than influenced by transaction size or political pressure.
With what they described as an “extensive set of regulatory review processes” ahead, the letter concluded by signaling continued engagement.. The coalition said it expects further involvement. including testimony and hearings before relevant congressional and parliamentary committees tied to the transaction’s review.
For observers. the timing of the warnings signals that the merger won’t be treated as a fast-moving business matter alone—it’s being treated as an outcome that must satisfy competing priorities across borders: market power. consumer interests. security concerns. and the long-running question of who controls editorial voice in modern media ecosystems.. The result is a scrutiny roadmap that lawmakers are effectively telling Ellison to plan for, not to downplay.
Paramount Skydance Warner Bros Discovery David Ellison media merger EU regulation U.S. scrutiny editorial independence