Full Breakdown
Trump Honored at Private Dinner Amid Paramount-Skydance’s $111 B Warner Bros. Discovery Merger
4/25/2026, 10:16:12 AM
Event Overview
On April 23, 2026, Paramount Skydance CEO David Ellison hosted a dinner at the Institute of Peace to honor President Donald Trump and CBS correspondents. The invitation called it a First-Amendment celebration. Trump spoke for an hour; attendees included CBS editor-in-chief Bari Weiss and Defense Secretary Pete Hegseth.
Merger Background & Regulatory Path
Ellison is pursuing a $111 billion acquisition of Warner Bros. Discovery that would place CBS News, CNN and Paramount’s film and streaming assets under one owner. Warner Bros. Discovery shareholders approved the deal on April 22, but U.S. Department of Justice antitrust review and EU clearance remain pending. The agreement includes a $7 billion termination fee and a $0.25-per-share quarterly “ticking” fee if closing is delayed.
Key Participants
David Ellison, Donald Trump, CBS editor-in-chief Bari Weiss, Acting Attorney General Todd Blanche, and Secretary of State Marco Rubio attended.
Why It Matters
The merger would create one of the world’s largest media conglomerates, concentrating news and entertainment power and raising antitrust, consumer-price and press-freedom concerns.
Official Statements & Responses
Paramount said the transaction will “realize a next-generation media company that better serves creators and consumers.” Warner Bros. Discovery CEO David Zaslav called shareholder approval “an important milestone.”
Criticism & Opposition
Rep. Jamie Raskin (D-MD) called the dinner “a lavish oligarch’s dinner” cementing the Ellisons to the president. Rep. Becca Balint (D-VT) warned the merger would consolidate media for the MAGA movement. Senators Cory Booker and Elizabeth Warren, joined by actors Mark Ruffalo and Ben Stiller, labeled the deal dangerous for democracy.
On-the-Ground Protests
Demonstrators on the National Mall displayed signs reading “Democracy is not for sale” and “Stop Paramount’s corruption gala,” flipped off Trump’s motorcade, and urged state attorneys general to block the deal.
Conflicting Reports & Gaps
Sources list the merger value as $110 bn or $111 bn and differ on attendee counts. Variety notes the First-Amendment theme never entered Trump’s remarks, contrary to other accounts. CBS staff invitation details remain unclear.
Verbatim Quotes
- “We’re gathered here together tonight [because] in the building behind us, David Ellison is hosting a dinner to honor President Trump, a dinner that’s designed to cement the Ellisons to the president in their years-running corrupt merger scheme,” — Rep. Jamie Raskin (D-MD)
- “Right now, you got David Ellison probably as I speak in that building right behind me raising a glass to his friend, his supporter, his patron, Donald Trump,” — Rep. Becca Balint (D-VT)
- “This resembles the First Amendment in the same way that a book burning is a celebration of the written word,” — Norm Eisen, co-founder, Democracy Defenders Action
- “Shareholder approval marks another important milestone towards completing our acquisition of Warner Bros. Discovery, building on our successful equity and debt syndications and progress across regulatory approvals,” — David Zaslav, CEO, Warner Bros. Discovery
What’s Next
The DOJ and EU antitrust agencies will issue decisions by late 2026; state AGs may file lawsuits.
