What A Day Billionaires Brawl Over Warner Bros.
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Dec 10, 2025 
Ben Smith, co-founder and editor-in-chief of Semafor, provides insights into the fierce bidding war for Warner Bros. Discovery. He discusses the implications of media consolidation and why the involvement of industry giants like Netflix and Paramount could reshape not just Hollywood, but also viewer experiences. Smith highlights how political ties, particularly involving Trump, complicate the landscape, and what consumers should consider as power dynamics shift within major media outlets.
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Mergers Reshape Media And Politics
- Mega-mergers reshape both media choices and political power centers in ways consumers often miss.
- Ownership consolidation can concentrate control over news and entertainment across politics and culture.
Ellisons, Trump, And A Hostile Bid
- David Ellison met President Trump and later announced a hostile bid for Warner Bros. Discovery.
- The Ellisons' closeness to Trump and promises about changing CNN became part of the public battle.
Scale As Survival In Streaming
- Industry players believe scale is necessary to survive streaming competition.
- Wealthy owners often buy studios for status, then pursue bigger acquisitions to compete economically.