Tom Steyer, a progressive billionaire and gubernatorial candidate in California, has voiced strong opposition to the proposed merger between Paramount and Warner Bros. Discovery, claiming it represents a 'right-wing takeover of media.'
Steyer's Concerns on Free Speech
Steyer supports a lawsuit against the merger, as proposed by California Attorney General Rob Bonta. He advocates for stronger legislation to prevent similar large-scale media mergers in the future. Steyer emphasized the importance of free speech, stating, 'This is a right-wing takeover of media... when you're trying to have a coup, the two things you control are the army and the TV stations.'
David Ellison, a key figure in the merger, has been linked with former President Donald Trump, including hosting a dinner for him last month, which fuels Steyer's concerns about CNN potentially becoming a pro-Trump outlet. Steyer fondly remembered CNN founder Ted Turner, criticizing the prospect of the network being a 'mouthpiece' for Trump.
California Attorney General's Stance
Rob Bonta, California's Attorney General, expressed similar concerns in a February letter, emphasizing the need for a thorough review of the merger proposal. Bonta warned of potential negative impacts such as higher prices and fewer jobs.
Paramount's legal team, led by Makan Delrahim, defended the merger, claiming it would benefit movie theaters and audiences. Despite this, Bonta's office remains cautious, though state AGs have historically struggled to halt national media mergers.
Gubernatorial Race Implications
Steyer's stance on the merger contrasts with that of Republican frontrunner Steve Hilton, who is endorsed by Trump and unlikely to oppose it. Hilton recently suggested a significant film tax credit to change behavior in the industry.
Steyer criticized Hilton, saying, 'The idea that Steve Hilton is going to protect Hollywood is insane. Hollywood is about free speech and creativity.' Steyer also outlined his vision for film tax credits, proposing they include above-the-line expenses and remain uncapped, unlike the current $750 million limit.
Broader Industry Support
Steyer emphasized the need for broader support of the industry, including reducing regulations and costs to help small productions thrive in California. He highlighted the importance of arts funding and apprenticeships, alongside housing cost reductions, to build a sustainable ecosystem. 'In the short run the answer is tax credits, but in the long run it’s driving down costs and building up capabilities,' Steyer stated.
Steyer's campaign has received backing from IATSE, reflecting his commitment to protecting workers and the industry. His long-term vision aims to balance immediate incentives with broader structural improvements.
Source: https://www.hollywoodreporter.com/news/politics-news/tom-steyer-paramount-merger-cnn-donald-trump-1236593952/
