From NBC News: Democratic lawmakers and California’s attorney general expressed deep skepticism about Paramount Skydance’s potential takeover of Warner Bros. Discovery after Netflix abruptly pulled out of the bidding war Thursday, the latest twist in a contentious and politically loaded corporate drama.
WBD’s board of directors still needs to formally approve Paramount’s offer, and any deal between the two Hollywood giants — the owners of storied film studios and top streaming apps — requires sign-off from Justice Department regulators. The board could meet as early as Friday, according to a source familiar with the matter.
The combined entity would be led by David Ellison, the son of Oracle mogul Larry Ellison, a close ally of President Donald Trump.
“Paramount/Warner Bros. is not a done deal,” California Attorney General Rob Bonta said in a statement. “These two Hollywood titans have not cleared regulatory scrutiny — the California Department of Justice has an open investigation, and we intend to be vigorous in our review.”
Bonta, a Democrat, did not comment on the investigation’s next steps. The U.S. Justice Department declined to comment on the WBD-Paramount transaction.
Paramount/Warner Bros is not a done deal.
These two Hollywood titans have not cleared regulatory scrutiny — the California Department of Justice has an open investigation, and we intend to be vigorous in our review.
— Rob Bonta (@AGRobBonta) February 27, 2026
Mark, I hear you.
I’m in conversation with my AG colleagues about Paramount/Warner Bros.
As the epicenter of the entertainment industry, California has a special interest in protecting competition. https://t.co/Av74BFnEsi
— Rob Bonta (@AGRobBonta) February 27, 2026
Read more at NBC News
The Dennis Michael Lynch Podcast archive is available below, with the most recent on top. Never miss an episode. Subscribe to the show by downloading The DML News App or go to Apple Podcasts.
