In a surprise move, New York Mayor Zohran Mamdani spoke out against the merger between Paramount Skydance and Warner Bros. Discovery on Thursday ahead of a planned shareholder vote set to approve the nearly $111 billion deal.
Mamdani made his case that the merger will harm New Yorkers, including those working in film and television production in the state.
“This merger is bad for New Yorkers three times over,” he posted on X, citing an American Prospect article titled “The Deal That Could Destroy Hollywood.”
“Thousands of jobs at risk here in the city,” Mamdani said. “Streaming bills going up as competition disappears. And two of America’s most powerful media companies under one roof, deciding what you watch and what you hear.
“Today, as Warner Bros. and Paramount shareholders vote, New York City is on record: this merger should be stopped,” the mayor said.
The Paramount-WBD merger was officially approved by WBD shareholders at their annual meeting, which started at 10 a.m. Thursday in New York City.
“Today’s stockholder approval is another key milestone toward completing this historic transaction that will deliver exceptional value to our stockholders,” WBD CEO President and CEO David Zaslav said. “We will continue to work with Paramount to complete the remaining steps in this process that will create a leading, next-generation media and entertainment company.”
Paramount made a similar statement expressing its satisfaction with the majority vote.
The vote marked the next step toward getting the deal approved by U.S. and European regulators. Paramount wishes to finalize the transaction by the third quarter of 2026, but the merger is at risk of being held up in court.
Democratic attorneys general, namely Rob Bonta of California, are reportedly weighing legal action to block the merger. Bonta’s office is currently investigating the antitrust implications of the deal.
HOLLYWOOD STARS BACK ROB BONTA’S EFFORT TO BLOCK PARAMOUNT-WBD MERGER
Over 4,100 Hollywood creatives signed an open letter opposing the merger and praising Bonta for looking into the matter.
Mamdani has a Hollywood background of his own, primarily through his mother. Oscar-nominated filmmaker Mira Nair directed Disney’s 2016 chess biopic Queen of Katwe, which Mamdani worked on as a third assistant director and music supervisor. He also starred in the film in a minor role.