Zohran Mamdani rips Warner Bros. Discovery’s – Business News
New York City Mayor Zohran Mamdani blasted the blockbuster Paramount–Warner Bros. Discovery merger as a direct menace to jobs and customers — this as WBD shareholders overwhelmingly authorized the tie-up on Thursday.
“This merger is bad for New Yorkers three times over,” Mamdani wrote Thursday morning on X as shareholders ready to vote on the deal.
“Thousands of jobs at risk here in the city. 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,” he added.
New York City Mayor Zohran Mamdani has come out towards the Paramount–Warner Bros. Discovery merger, warning it might put “thousands of jobs at risk” and focus media energy. Paul Martinka for NY Post
The mayor capped his broadside with a clear call to motion: “Today, as Warner Bros. and Paramount shareholders vote, New York City is on record: this merger should be stopped.”
Hollywood figures, labor teams and progressive politicians have more and more framed the merger as a menace to competitors and inventive output, whereas critics argue it might shrink the quantity of main studios and cut back alternatives for employees and impartial creators.
Reaction online was swift and deeply divided, reflecting the broader national debate over consolidation.
Hedge fund supervisor Daniel S. Loeb signaled assist for the deal, posting bluntly: “WBD shareholder here voting for.”
Others mocked the backlash totally. “Classic 2026 big media consolidation panic,” one consumer wrote, arguing that “new tech and indie creators are eating traditional media’s lunch anyway.”
Some critics accused Mamdani of overreach.
This merger is dangerous for New Yorkers 3 times over. Thousands of jobs at risk right here within the metropolis. Streaming payments going up as competitors disappears. And two of America’s strongest media corporations underneath one roof, deciding what you watch and what you hear.Today, as Warner… https://t.co/Y5axc1HRSW— Mayor Zohran Kwame Mamdani (@NYCMayor) April 23, 2026
“If two companies want to merge, let them. Shouldn’t be up to anyone to decide but them,” one other consumer wrote.
Some supporters, in the meantime, echoed the mayor’s considerations.
“A merger that results in less competition, higher prices, and thousands of New Yorkers out of work? Hard pass,” one post learn, praising City Hall for calling out the dangers.
Others warned about media focus. “Consumers will benefit and the message would be delivered under one voice to fit one narrative!” one other consumer wrote, capturing fears about centralized control.
David Ellison strikes nearer to taking control of a mixed media giant after shareholders log out on Paramount Skydance’s blockbuster acquisition. REUTERS
The Post has sought remark from Paramount and WBD.
Shareholders delivered a stinging — if symbolic — rebuke to WBD CEO David Zaslav at the same time as they greenlit the blockbuster deal.
While traders overwhelmingly authorized the Paramount Skydance merger, a majority voted towards the large exit pay packages for Zaslav and his prime lieutenants, signaling deep frustration with government compensation.
David Zaslav faces shareholder backlash as traders approve the merger however reject his large exit pay bundle in a symbolic rebuke. FilmMagic
The vote carries no binding pressure and received’t block payouts that might exceed $500 million for Zaslav.
WBD’s board formally authorized and advisable the Paramount Skydance merger late final month, when the company introduced the particular shareholder assembly and mentioned administrators have been unanimously backing the deal.
Under the present phrases, shareholders are slated to obtain $31 per share in money — a large premium — with the businesses now guiding to a closing within the third quarter of 2026, assuming regulators log out.
Paramount has locked in debt commitments to fund the deal and lined up roughly $20 billion-plus in backing from Gulf sovereign wealth funds, solidifying a funding construction that had beforehand raised doubts.
But the political heat is intensifying simply because the deal strikes nearer to actuality.
Rob Bonta, California’s legal professional basic, has warned the merger is “not a done deal,” signaling aggressive state-level scrutiny, whereas more than 1,000 Hollywood creatives have rallied behind efforts to dam it over fears of job losses and lowered competitors.
