Story perspectives

Press Groups Demand Book Review Over Alleged Warner Deal Favors

5/9/2026

Summary

Press Groups Demand Audit

Freedom of the Press Foundation and Reporters Without Borders asked Paramount's Makan Delrahim to inspect books, alleging CEO David Ellison promised White House favors for $111 billion Warner Bros. takeover.
Letter cites Delaware law permitting review and gives Paramount five days to respond.
Critics say the merger would leave firm with $79 billion debt and pay Warner shareholders $31 per share.
California Attorney General Rob Bonta, Democrats urged regulators to block the deal.

Summary

Gomez Demands Review

Federal Communications Commission (FCC) Commissioner Anna Gomez, the sole Democratic commissioner, urged an FCC review of the merger’s foreign-investment share.
The deal would make the company 49.5% foreign-owned, with 38.5% held by Saudi, Qatari and Abu Dhabi sovereign funds pledged $24 billion, raising press-freedom concerns.
Law bars governments from broadcast licenses and requires FCC approval for stakes above 25% in CBS assets, but Chairman Brendan Carr has not signaled a review.

History

Historical Context

The 2000 AOL–Time Warner merger, filed Feb 11 2000 and cleared by the FCC in Dec 2000, created a $164 billion conglomerate and drew scrutiny because 30 % of ownership would be foreign-held. That precedent informs today’s proposed Paramount acquisition of Warner Bros., where sovereign funds have pledged $24 billion for a 38.5 % stake, likely prompting another FCC review.

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Press Groups Demand Audit

Freedom of the Press Foundation and Reporters Without Borders asked Paramount's Makan Delrahim to inspect books, alleging CEO David Ellison promised White House favors for $111 billion Warner Bros. takeover.
Letter cites Delaware law permitting review and gives Paramount five days to respond.
Critics say the merger would leave firm with $79 billion debt and pay Warner shareholders $31 per share.
California Attorney General Rob Bonta, Democrats urged regulators to block the deal.

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