David Ellison Won't Appear at Senate Hearing Due to a Death in Family

Key Points:

• Paramount's $111 billion acquisition of Warner Bros. Discovery faces a Senate antitrust subcommittee hearing proceeding without Paramount CEO David Ellison, who is absent due to a family funeral.
• Senator Cory Booker criticized Ellison for avoiding Congressional oversight amid concerns over the massive media merger, emphasizing the public interest in his testimony.
• The deal, agreed upon after Netflix withdrew its bid, is targeted by opposition from Democratic senators citing antitrust and foreign investment concerns, particularly involving Middle Eastern funds backing Paramount.
• Cinema United, representing major movie theater chains, and a coalition of Hollywood creatives, including Jane Fonda’s Committee for the First Amendment, have voiced strong opposition citing negative impacts on jobs, creators, and consumer choice.
• Despite opposition, Paramount maintains the merger is procompetitive and should be evaluated on its merits, aiming to close the deal by the end of September.