On Monday, Sen. Elizabeth Warren (D-Mass.) is raising alarms that the Paramount SkyDance (NASDAQ:PSKY) acquisition of Warner Bros. Discovery, Inc. (NASDAQ:WBD) could concentrate too much power over Hollywood's future in the hands of politically connected media elites.
Warren Says Media Consolidation Threatens Creativity
In a video posted on X, the Massachusetts Democrat used Apple Inc. (NASDAQ:AAPL) TV+'s hit drama "Severance" as a warning about what could be lost if fewer studios control entertainment.
"Shows like Severance could go away entirely if a single studio has monopoly control over Hollywood," Warren said.
She argued that because "Severance" spent years being pitched before eventually finding support, a more consolidated industry with limited buyers could prevent similarly original projects from ever reaching audiences.
"If the creator of Severance had just one or maybe two studios to be able to pitch, there probably wouldn't have been a Severance at all," she added.
Warren also targeted the Ellison family, calling the deal a dangerous concentration of cultural influence tied to Donald Trump-aligned interests.
"We can't let Donald Trump control everything that appears on our screens," Warren said.
Apple's ‘Severance' Journey Highlights Warren's Point
Originally produced by independent studio Fifth Season, Severance later became one of Apple TV+'s biggest successes.
Apple ultimately acquired the series' full rights for nearly $70 million, shifting production fully in-house after its breakout run.
Season 2 became Apple TV+'s most-watched series at the time and led the 2025 Emmy nominations with 27 nods.
Paramount-Warner Bros. Deal Sparks Industry Backlash
More than 1,000 Hollywood figures, including Ben Stiller, Joaquin Phoenix and Kristen Stewart, have opposed the merger, warning it could weaken competition and creative independence.
At the time, Paramount pushed back, saying the merger would strengthen competition against streaming giants while preserving creative leadership and expanding investment in film and television.
Price Action: Paramount Skydance closed Monday at $10.90, down 1.71% and slipped another 0.36% in after-hours trading to $10.86, according to Benzinga Pro.
Benzinga Edge Rankings indicate PSKY maintains bullish short-term momentum, even as its medium- and long-term price trends remain under pressure.
Disclaimer: This content was partially produced with the help of AI tools and was reviewed and published by Benzinga editors.
Photo courtesy: Sheila Fitzgerald / Shutterstock.com
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