Ellison Empire Faces Legal and Financial Siege Over Paramount-WBD Merger

Larry Ellison and his son David's media empire is under mounting pressure as antitrust lawsuits delay the $111 billion Paramount-Warner Bros. Discovery merger. A coalition of 12 Democratic state attorneys general, led by California's Rob Bonta, seeks to block the deal. Paramount agreed not to close until June 2027 or five days after a court ruling, whichever is earlier. Warner Bros. shareholders are owed $650 million per quarter if the deal isn't done by September 30. Judge Araceli Martínez-Olguín extended a temporary restraining order until August 18. Paramount forced the recusal of Judge P. Casey Pitts due to his prior work with the Writers Guild of America, which also filed an antitrust complaint. Paramount hired Beth Wilkinson, who successfully defended Microsoft's Activision Blizzard acquisition, to lead the trial. Jeffrey Kessler remains on the team. Larry Ellison personally guaranteed $45.7 billion for the deal and faces $9.8 billion in termination fees if it collapses. Oracle's stock has fallen, and the family's on-paper net worth has plummeted. Ari Emanuel defended the merger in a Wall Street Journal op-ed, arguing it could save Hollywood. The merger faces political opposition over concerns that CBS News and CNN would be controlled by a single entity with ties to the Trump administration, with Bari Weiss potentially overseeing both.