Lawmakers Scrutinize Warner Bros. Merger Over Jobs, News Independence

Lawmakers and industry leaders gathered in Burbank, California, on Friday to scrutinize a proposed $11 billion takeover of Warner Bros. Discovery by Paramount Global and Skydance Media, highlighting fears over deepening job losses in Hollywood and the future independence of major news organizations.

The hearing, titled "Lights, Camera, Competition: Promoting American Film Production," focused on the merger's potential effects on Los Angeles' beleaguered entertainment sector. Paramount, led by Chairman David Ellison, aims to complete the acquisition by September, following an agreement reached last month after Netflix withdrew its bid. The deal would place under Ellison family control two iconic studios, Paramount Pictures and Warner Bros., along with HBO, dozens of cable networks, and the newsrooms of CNN and CBS News. Larry Ellison, the Oracle co-founder and David's father, is providing significant financial backing.

Sen. Adam Schiff and Rep. Laura Friedman, both Democrats representing areas near Hollywood, convened the session amid ongoing regulatory reviews in the United States and abroad. "The questions surrounding this merger go beyond jobs, contracts and consumers," Schiff...