Tom Steyer believes a Warner Bros. Discovery merger could be a right-wing takeover of media, as he supports a lawsuit against Paramount’s bid to merge with the company. He argues that the merger threatens free speech by turning CNN into a tool for President Donald Trump, citing former CNN founder Ted Turner’s legacy. Steyer notes that if Ellison, a former Fox News host, were allowed to buy CNN, it would mean an abject mouthpiece for the President, highlighting the irony of media ownership shifting power dynamics. He emphasizes that such mergers reduce credibility when there’s no existing media platform, stating that even a single network can undermine independent voices. Meanwhile, California Attorney General Rob Bonta fears the merger will lead to higher costs, lower wages, and fewer jobs, echoing a grassroots movement advocating for market regulation. Steyer criticizes Republicans for prioritizing deregulation over protecting the industry, arguing that strong state laws are essential to ensure creativity and economic growth. His call for tax credits to support small films adds complexity, suggesting a balance between incentives and regulatory oversight to sustain the industry. Ultimately, Steyer sees the merger as a challenge to media freedom and a potential catalyst for change, while Bonta warns of its negative consequences.
