Rob Schmitt, host of “Rob Schmitt Tonight,” and conservative podcaster Trish Regan described Paramount Skydance’s agreement to acquire Warner Bros. Discovery for $110 billion as a major shift in the U.S. media landscape on Friday.
Schmitt framed the transaction—following Netflix’s withdrawal from bidding for Warner Bros. Thursday—as transformative. He stated that Larry Ellison and his son David had recently acquired Paramount Global and are now poised to purchase Warner Bros. Discovery, which would place them in control of two major Hollywood studios and CNN.
“The Ellisons will now own two of the big five movie studios,” Schmitt said. “They’ll also own CNN.”
Schmitt noted that the $110 billion purchase price represents approximately half of Larry Ellison’s net worth at risk. He described reactions to the news: “After it became clear that CNN would fall into David Ellison’s hands, my phone started lighting up with messages from people saying we’re doomed—‘we are effed up.’”
Regan emphasized David Ellison’s focus on innovation and audience demand. “You get half the country—that voted Donald Trump into office—for a reason,” she said. “So, you can’t just shut out the other side.”
She also highlighted potential virtual reality applications: “What if you could take people to Ukraine? What if you could take them directly to the front lines?”
