{"id":207567,"date":"2026-04-23T19:33:10","date_gmt":"2026-04-23T19:33:10","guid":{"rendered":"https:\/\/www.newsbeep.com\/us-ny\/207567\/"},"modified":"2026-04-23T19:33:10","modified_gmt":"2026-04-23T19:33:10","slug":"zohran-mamdani-rips-warner-bros-discoverys-paramount-merger-for-nyc-workers","status":"publish","type":"post","link":"https:\/\/www.newsbeep.com\/us-ny\/207567\/","title":{"rendered":"Zohran Mamdani rips Warner Bros. Discovery’s Paramount merger for NYC workers"},"content":{"rendered":"

New York City Mayor Zohran Mamdani blasted the blockbuster Paramount\u2013Warner Bros. Discovery merger<\/a> as a direct threat to jobs and consumers \u2014 this as WBD shareholders overwhelmingly approved the tie-up on Thursday.<\/p>\n

\u201cThis merger is bad for New Yorkers three times over,\u201d Mamdani wrote Thursday morning on X as shareholders prepared to vote on the deal.<\/p>\n

\u201cThousands of jobs at risk here in the city. Streaming bills going up as competition disappears. And two of America\u2019s most powerful media companies under one roof, deciding what you watch and what you hear,\u201d he added.<\/p>\n

New York City Mayor Zohran Mamdani has come out against the Paramount\u2013Warner Bros. Discovery merger, warning it would put \u201cthousands of jobs at risk\u201d and concentrate media power. Paul Martinka for NY Post<\/p>\n

The mayor capped his broadside with a clear call to action: \u201cToday, as Warner Bros. and Paramount shareholders vote, New York City is on record: this merger should be stopped.\u201d<\/p>\n

Hollywood figures, labor groups and progressive politicians have increasingly framed the merger as a threat to competition and creative output, while critics argue it could shrink the number of major studios and reduce opportunities for workers and independent creators.<\/p>\n

Reaction online was swift and deeply divided, reflecting the broader national debate over consolidation.<\/p>\n

Hedge fund manager Daniel S. Loeb signaled support for the deal<\/a>, posting bluntly: \u201cWBD shareholder here voting for.\u201d<\/p>\n

Others mocked the backlash entirely. \u201cClassic 2026 big media consolidation panic,\u201d one user wrote, arguing that \u201cnew tech and indie creators are eating traditional media\u2019s lunch anyway.\u201d<\/p>\n

Some critics accused Mamdani of overreach.<\/p>\n

This merger is bad for New Yorkers three times over. Thousands of jobs at risk here in the city. Streaming bills going up as competition disappears. And two of America\u2019s most powerful media companies under one roof, deciding what you watch and what you hear.<\/p>\n

Today, as Warner\u2026 https:\/\/t.co\/Y5axc1HRSW<\/a><\/p>\n

\u2014 Mayor Zohran Kwame Mamdani (@NYCMayor) April 23, 2026<\/a><\/p>\n

\u201cIf two companies want to merge, let them. Shouldn\u2019t be up to anyone to decide but them,\u201d another user wrote.<\/p>\n

Some supporters, meanwhile, echoed the mayor\u2019s concerns.<\/p>\n

\u201cA merger that results in less competition, higher prices, and thousands of New Yorkers out of work? Hard pass,\u201d one post read, praising City Hall for calling out the risks.<\/p>\n

Others warned about media concentration. \u201cConsumers will benefit and the message would be delivered under one voice to fit one narrative!\u201d another user wrote, capturing fears about centralized control.<\/p>\n

David Ellison moves closer to taking control of a combined media giant after shareholders sign off on Paramount Skydance\u2019s blockbuster acquisition. REUTERS<\/p>\n

The Post has sought comment from Paramount and WBD.<\/p>\n

Shareholders delivered a stinging \u2014 if symbolic \u2014 rebuke to WBD CEO David Zaslav even as they greenlit the blockbuster deal.<\/p>\n

While investors overwhelmingly approved the Paramount Skydance merger<\/a>, a majority voted against the massive exit pay packages for Zaslav and his top lieutenants, signaling deep frustration with executive compensation.<\/p>\n

David Zaslav faces shareholder backlash as investors approve the merger but reject his massive exit pay package in a symbolic rebuke. FilmMagic<\/p>\n

The vote carries no binding force and won\u2019t block payouts that could exceed $500 million for Zaslav.<\/p>\n

WBD\u2019s board formally approved and recommended the Paramount Skydance merger late last month, when the company announced the special shareholder meeting and said directors were unanimously backing the deal.<\/p>\n

Under the current terms, shareholders are slated to receive $31 per share<\/a> in cash \u2014 a massive premium \u2014 with the companies now guiding to a closing in the third quarter of 2026, assuming regulators sign off.<\/p>\n

Paramount has locked in debt commitments to fund the deal and lined up roughly $20 billion-plus in backing from Gulf sovereign<\/a> wealth funds, solidifying a funding structure that had previously raised doubts.<\/p>\n

But the political heat is intensifying just as the deal moves closer to reality. <\/p>\n

Rob Bonta, California\u2019s attorney general, has warned the merger is \u201cnot a done deal,\u201d signaling aggressive state-level scrutiny, while more than 1,000 Hollywood creatives have rallied behind efforts to block it over fears of job losses and reduced competition.<\/p>\n

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