Sen. Chris Murphy (D-Conn.) vowed to dismantle large media conglomerates if Democrats retake power, targeting Paramount Skydance Corp. (NASDAQ:PSKY) CEO David Ellison directly after Ellison hosted a White House Correspondents’ celebration at the U.S. Institute of Peace.
The event invitation stated that “David F. Ellison cordially invites you to an intimate gathering in celebration of the First Amendment honoring the Trump White House and CBS White House Correspondents.”
Sen. Murphy’s Breakup Threat
In his Friday post on X, Murphy wrote, “We are going to break these anti-consumer, anti-free speech media conglomerates into pieces.”
The political backlash follows Warner Bros. Discovery Inc. (NASDAQ:WBD) board approval on Thursday of its sale to Paramount Global, a deal expected to close in the third quarter of 2026, still requiring final approval from the Department of Justice.
Hollywood Unites Against Consolidation
Over 1,000 film and TV industry figures, including Joaquin Phoenix, Ben Stiller and Kristen Stewart, have publicly opposed the deal, urging regulators to block it. They warn the merger would shrink major U.S. film studios to just four, reducing competition, jobs and audience choice.
At CinemaCon in Las Vegas, Ellison pledged the combined studio would release at least 30 films annually with a minimum 45-day exclusive theatrical window, positioning cinemas as central to franchise building.
David Ellison and his father, Larry Ellison, who controls Oracle Corp. (NYSE:ORCL) own CBS through Paramount. They have maintained close ties with the Trump administration. That alignment introduces added regulatory and political risks that could affect the deal’s closing timeline.
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Disclaimer: This content was partially produced with the help of AI tools and was reviewed and published by Benzinga editors.
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