International Coalition Throws Cold Water on Paramount Merger

May 14, 2026 Press Release New joint letter promises a long regulatory process and extensive oversight WASHINGTON, D.C. - Today, Congressman Sam Liccardo (CA-16) and Congresswoman Deborah Ross (NC-02) led an international coalition including members of the European Parliament in warning Paramount Skydance of its proposed acquisition of Warner Bros. Discovery faces extensive regulatory review in the United States and European Union. The letter, signed by Nathalie Loiseau (France), Brando Benifei (Italy) and Andreas Schwab (Germany), is the first international cooperative effort against the controversial acquisition. In a joint letter to Paramount Skydance CEO David Ellison, the coalition rejected public claims suggesting the merger will receive minimal scrutiny or swift approval, calling those statements “premature.” The lawmakers urged Paramount to exercise caution in public statements regarding regulatory approval timelines and likelihood. “Please consider this letter formal notice that any suggestions the transaction has effectively cleared regulatory hurdles, are false,” the lawmakers wrote. “We caution against creating artificial expectations in financial markets regarding deal certainty, which could give rise to protracted litigation. Regulatory outcomes remain independent determinations based on statutory standards, not transaction size or political influence.” The lawmakers also warned that regulators will closely scrutinize the merger’s impact on competition, consumer choice, and pricing across entertainment and media markets. “This transaction, if not fully compliant with a due authorization process and respecting all applicable legislation, could substantially lessen competition across interconnected markets, including film and television production, content licensing, theatrical distribution, and streaming services.  It could, thereby reduce consumer choice and increase prices,” the lawmakers wrote. The letter also raised concerns about reports that sovereign wealth funds tied to the United Arab Emirates, Qatar, and Saudi Arabia may finance significant portions of the transaction. The lawmakers warned that these financing structures could trigger national security concerns, foreign influence risks, and review by the Committee on Foreign Investment in the United States (CFIUS). “In addition, we warn about the impact of this merger on media pluralism, and we call for internal safeguards to guarantee that editorial decision making remains independent of the interests of corporate shareholders, particularly third-country investors,” wrote the lawmakers. Liccardo and the lawmakers further warned that the combined company could carry more than $50 billion in debt, which often results in layoffs, reduced content investment, and higher prices for consumers. The full letter is available here . ###