As the conservative movement continues to engage in a robust debate regarding the core principles of antitrust policy in the digital age, the Left has settled on a straightforward test: “Go woke or go broke.” This politics masquerading as policy was unleashed yet again during the recent uproar over Paramount Skydance’s proposed acquisition of Warner Bros. Discovery.
In the wake of Warner’s decision to choose Paramount’s offer over a substantial offer from market heavyweight Netflix, the organized Left went to work.
First, California Attorney General Rob Bonta (D) called for multiple state attorneys general to halt the deal, and Sens. Elizabeth Warren (D-MA) and Richard Blumenthal (D-CT) were joined by a number of their colleagues in the House, squawking about market concentration with all the credibility of a campaign ad from former congressman George Santos.
DEMOCRATS’ ANTITRUST ‘CONCERNS’ OVER PARAMOUNT-WBD DEAL ARE PURE POLITICS
More than two dozen advocacy groups, led by the Center for American Progress — helmed by Hillary Clinton acolyte Neera Tanden — demanded that state attorneys general immediately launch investigations into the transaction. And of course, never one to be left out, Sen. Bernie Sanders (I-VT) took to X to shout about oligarchy and concentrated television markets.
It’s clear Democrats think the American public is digital dummies. The party didn’t voice concerns of antitrust or concentrated market power when the far larger Netflix was set to acquire Warner, which, by some accounts, would have given the combined entity a greater than 40% share of the streaming video market.
That level of market saturation presumptively would’ve been unlawful under Justice Department and Federal Trade Commission guidelines, an analysis by White & Case suggested. It’s certainly a topic worthy of debate, but it drew no melodramatic speeches from the Left; it was nothing but crickets.
Perhaps this is because the Netflix board includes Democrat Susan Rice, the top power broker in the Obama administration, who was recently in the news for promising to crack down on anyone who collaborated with the Trump administration when Democrats return to power.
The battle over Warner will certainly add more names to Rice’s “list.” Both Sanders and Bonta mention the Trump family’s relationship with the Ellisons, the driving force behind the Warner Bros. acquisition. Recent reports from Politico suggest Bonta will be coordinating his efforts to halt the transaction with Letitia James, the New York attorney general who ran for reelection on the promise to prosecute President Donald Trump.
In the midst of a $110 billion corporate merger, one that will inevitably alter the entertainment landscape for decades to come, the Left offers no thoughtful position. Its position is purely political, retribution for those who oppose it, enforcing the sort of third-world spoils system that exists in countries that Sanders likes to glorify. The merits of this transaction play second fiddle to Paramount Skydance CEO David Ellison’s personal political preferences. Once Obama-aligned Netflix lost out, somebody had to pay.
For consumers, there’s a lot to like. Ellison has promised to maintain the editorial independence of CNN and previously acquired CBS, with an eye toward creating a newsroom that serves the 70% of Americans who describe themselves as center-left or center-right, a worthy goal in an era of declining trust in legacy media. The increased market share of the combined entity, while still smaller than Netflix, will serve millions of Americans who are fed up with algorithmically driven, low-quality content delivered by streamers.
WITH THE WARNER BROS. DEAL OFF THE TABLE, NETFLIX SHOULD FOCUS ON REGAINING TRUST
This past week, acting Assistant Attorney General Omeed Assefi issued a strong statement on the proposed acquisition of Warner Bros. Discovery by Paramount Skydance, assuring people that the deal will not be fast-tracked for political reasons. This measured approach is, of course, the proper way to assess possible antitrust issues. Wherever one might land on these issues, it’s clear the Right is thinking deeply about how to set standards to protect consumer welfare in the digital age.
Democrats and their far-left bloc are an entirely different story. Anything that benefits them politically, strengthens an ally, or hurts a foe is progress. Given their drive to concentrate political power, it’s no wonder they fail to grasp the foundational concepts and purpose of antitrust policy, which have turned into just another means to a political end. The Warner acquisition highlights why consumers as voters may want to think twice before handing power back to Democrats, as they have made it abundantly clear how they will use their power and for whose benefit.
Gerard Scimeca is an attorney and serves as chairman and co-founder of CASE, Consumer Action for a Strong Economy, a free-market consumer advocacy organization.