Top Paramount Lawyer Claims Opposition To Warner Brothers Merger Is ‘Antisemitic’

from the bad-faith-bullshit dept

Paramount is clearly getting nervous about the growing opposition to its $111 billion merger with Warner Brothers, which is being intensely criticized for dodgy overseas funding, its dire impact on journalism, and the inevitable mass layoffs, consumer price hikes, and shittier overall product that always results from debt-fueled mega-media consolidation.

There’s a certain desperation creeping into their arguments as state regulators send signals that they’re considering filing an antitrust lawsuit. Top Paramount lawyer Makan Delrahim recently sat down for an interview with the billionaire-owned LA Times (non-paywalled alternative), and insisted that opposition to the company’s terrible merger spree is somehow antisemitic:

“Let’s be honest,” he told the Times. “There’s a lot of fear-mongering, particularly from people in Washington, D.C. They are running a political campaign. Some of these people are trying to inflict harm on this transaction, really because of their own antisemitic views. Regulators and law enforcement officials will see right through that.”

That is, of course, a whole lot of bullshit. Delrahim is trying to pretend that opposition to the deal stems from the fact that billionaire Trump-donor Larry Ellison, who has retooled CBS News to be more friendly to Benjamin Netanyahu, is Jewish. But if there’s any personal ire directed at Ellison as it pertains to the deal, it’s that he has a generational track record of being a foundationally terrible person.

The real-world concerns about the deal have focused on things like the fact it’s heavily financed by Saudi Arabia and China. And there’s fifty years of history showing that deals like this (especially deals involving Warner Brothers) routinely result in mass layoffs, higher prices, and both a shittier company and a less healthy film and television production market.

This sort of mindless consolidation is generally just a shell game performed by the extraction class and the kind of people obsessed with scale that have no genuine, original ideas. It’s utterly senseless, extractive, and destructive, as we all saw with the disastrous AT&T–>Discovery–>Warner Brothers mess (and the AOL Warner Brothers mess decades earlier).

Quick refresher: Delrahim was Trump’s DOJ “antitrust enforcer” during his first term. Delrahim “enforced antitrust” by doing things like rubber stamping Sprint’s merger with T-Mobile, which immediately resulted in more than 8,000 layoffs and an abrupt end to what passed as price competition in U.S. wireless.

These are, you’ll be surprised to learn, bad faith actors who aren’t actually interested in the public interest, product quality, happy workers, healthy markets, healthy companies, or much of anything else beyond short-term financial gains, tax breaks, control, and outsized higher-level executive compensation.

Ellison and Delrahim don’t have to worry about the Trump DOJ or FCC interfering in the deal. But their desperation suggests they are definitely nervous about negative public perception, European regulatory approval, and the hints being sent by state attorneys general that they’re cooking up a collaborative antitrust lawsuit that could either block or dramatically extend the project timeline.

Filed Under: antisemitism, antitrust, consoliation, journalism, larry ellison, makan delrahim, media, mergers

Companies: paramount, warner bros.