Netflix pulled out of its $82.7B bid for Warner Bros. Discovery's studios and streaming after Paramount Skydance—backed by Larry Ellison and son David — upped to $111B for the full company, including HBO Max and CNN, at a "superior" $31/share. Netflix deemed the price unappealing, with Paramount covering the $2.8B termination fee; Sarandos met White House aides pre-walkout.
Business math shifted the deal, but Ellison's Trump ties fuel talk of political boosts amid sky-high valuations. Ellison control of studios, HBO, CNN, TNT, and more risks mega-consolidation warping entertainment and news diversity. In a broken media scene prone to manipulation, this family empire could push aligned narratives, echoing Ellison-Trump CNN talks.
DOJ/FTC probe antitrust, with early nods despite pushback from Democrats and theaters; Trump-era laxity favors such "America First" ties. Monopolies grow via politics, hard to halt without revolt.
Ultimately, this saga exposes media's vulnerability to billionaire oligarchs blending business with politics . It also reveals the media's peril from billionaire politics, eroding pluralism; regulators must block before one scripts reality.
CONSOLIDATION KILLS DIVERSITY—ACT NOW OR LOSE IT ALL!