Paramount-Warner Bros Merger: Ellison Family's $111B Deal to Control CNN, CBS, TikTok Sparks Sanders' 'Oligarchy' Warning

One family could soon control what hundreds of millions of people watch, read, and scroll through every day.

The Ellisons are on the verge of assembling the largest media empire in American history. If the $111 billion (£83 billion) merger between Paramount and Warner Bros. Discovery closes, Oracle co-founder Larry Ellison and his son David will control CBS, CNN, HBO, TikTok's US operations, MTV, BET, Nickelodeon, Comedy Central, Paramount+, Pluto TV, Discovery Channel, Cartoon Network, TNT, TBS, The CW, DC Studios, and Warner Bros. Pictures.

Senator Bernie Sanders didn't mince words. 'One family, the right-wing Trump-aligned Ellisons, will soon control: TikTok, CBS, CNN, HBO, Discovery Channel, BET, Cartoon Network, Comedy Central, DC Studios, Fandango, Miramax, MTV, Nickelodeon, Paramount, PlutoTV, Showtime, TBS, The CW, TNT, Warner Bros., and more,' the Vermont senator posted on X. 'This is oligarchy.'

One Family, $47 Billion, and the Keys to American Media

The financial commitment is staggering. Larry Ellison, one of the world's richest people and a close Trump ally, is backing a $47 billion (£35 billion) equity commitment that he and RedBird Capital Partners have fully guaranteed. The deal values Warner Bros. Discovery at 7.5 times its projected 2026 earnings.

Warner Bros. Discovery accepted Paramount Skydance's offer after Netflix withdrew from the bidding war in late February. Netflix co-CEOs Ted Sarandos and Greg Peters walked away from their $82.7 billion (£61.8 billion) all-cash offer, clearing the path for the Ellisons.

David Ellison, now Paramount's chairman and chief executive, has pledged at least $6 billion (£4.5 billion) in annual 'cost synergies' from the combined company. That phrase typically means layoffs.

At a townhall with Warner Bros. executives this week, Ellison insisted most savings would not come from job cuts. One attendee told The Hollywood Reporter bluntly: 'We don't believe him.'

The Pattern That Has Journalists Worried

The Ellisons' track record at CBS News is why Sanders and others are raising alarms. Before the Warner Bros. deal was announced, Paramount paid $16 million (£12 million) to settle President Trump's lawsuit against CBS over a '60 Minutes' interview with Kamala Harris. Legal experts widely considered the suit frivolous. Senators Elizabeth Warren, Sanders, and Ron Wyden sent a letter to Paramount raising concerns that the settlement could amount to bribery.

Bari Weiss, founder of The Free Press, was installed as editor-in-chief of CBS News last year. She reports directly to David Ellison. The Wall Street Journal reported in December that David Ellison offered assurances to Trump administration officials that he would make 'sweeping changes' to CNN if he acquired Warner Bros.

Larry Ellison holds a 15% stake in the TikTok US joint venture through Oracle, which also hosts the app's algorithm on its cloud infrastructure. The platform reaches over 170 million Americans.

What This Means for You

If you watch CNN, stream HBO Max, let your children watch Nickelodeon, catch up on Paramount+, or scroll through TikTok, the Ellison family will have influence over that content.

The deal still requires full regulatory approval, but Federal Communications Commission (FCC) Chairman Brendan Carr has praised David Ellison's moves at CBS and signalled no broadcast licences would change hands in the Warner acquisition.

'At a time when six major conglomerates control what 90% of Americans see, hear, and read, oligarch control over media is getting even worse,' Sanders warned last year.

The combined entity will carry substantial debt. But for Larry Ellison, this is about more than entertainment. Oracle's expansion into artificial intelligence has created a hunger for consumer data. Streaming platforms and social media can deliver exactly that. Who you are and what you watch becomes a commodity.

One family. One empire. The question is what they do with it.