Warren Warns of Reversal for Trump-Era Mega Mergers
Senator Elizabeth Warren has warned that corporate mergers approved during the Trump administration, including a pending deal that would place two of America's largest news outlets under the control of a family sympathetic to President Donald Trump, could be undone by a future administration. In an exclusive interview, the Massachusetts Democrat stated that the architects behind the current 'frenzy' of blockbuster corporate deals have 'badly miscalculated.'
Warren emphasized that the political landscape will shift after the 2028 presidential election, potentially leading to a reversal of these mergers. 'The deals that are being cut today are occurring in the shadow of a coming political tsunami of anger against these giant corporations that think they can mow through one industry after another and run up prices and suck out profits and never be held accountable,' she said.
Concerns Over Warner Bros Discovery-Paramount Merger
Warren's comments come after the Justice Department approved the $111 billion merger of Warner Bros Discovery, parent company of CNN and HBO, and Paramount Skydance, which includes CBS News and is controlled by the Ellison family. The deal has raised concerns that Larry Ellison, a longtime associate of Donald Trump, and his son David could influence CNN's coverage to favor the president. David Ellison appointed conservative commentator Bari Weiss as editor-in-chief of CBS News, despite her lack of television experience, leading to allegations of political bias at the network.
Warren warned that if the networks are combined under the Ellisons, 'there's one ultimate decision-maker who decides what's important and what's not' at two of the country's biggest news outlets. She added, 'A bigger problem is that Ellison himself wants to inject a tilt into the news, and that means, where Americans turn for news, they can depend less and less on hearing independent, unbiased reports.'
Legal Challenges and Broader Merger Wave
State attorneys general have reportedly planned a lawsuit over the deal but have yet to announce it. Warren said she 'wouldn't draw a lot of inferences' from the delay, noting that such cases require significant resources and coordination among states. Beyond media, the Trump administration has approved other major mergers, including Nippon Steel's $14.9 billion acquisition of US Steel, Omnicom's $13.5 billion acquisition of Interpublic, and a $35 billion deal between Capital One and Discover Financial.
In a speech to the Open Market Institute, Warren accused the Trump administration of turning a blind eye to the harmful effects of the merger wave on consumers in exchange for political donations. 'As soon as Trump took office, corporations came knocking at the White House door to get their pro-monopoly deals approved,' she said. 'Have you wondered why companies keep donating millions of dollars to Trump's gold-encrusted ballroom, his arch, or his library? It looks a lot like a pay-to-play scheme.'
Democratic Pushback and Midterm Prospects
Warren is not alone in threatening to undo these mergers. In February, Senator Chris Murphy warned on social media that Paramount 'should enjoy its growing news monopoly while they have it because when Democrats win back power we are going to break up these anti-democratic information conglomerates.' In November, voters will cast ballots in midterm elections that could return Democrats to control of the Senate and House. Warren noted that while changing the law would be difficult with Trump in the White House, antitrust law permits retroactive breakups of mergers 'if they are later determined to violate those laws.'
