Former Connecticut Attorney General George Jepsen: Paramount-WBD Could Strengthen Hollywood Against Big Tech

About this update from Warner Bros. Discovery, Inc. - Series A

Former Connecticut attorney general George Jepsen shares his thoughts on the merger LOS ANGELES, June 19, 2026 /PRNewswire/ -- The proposed merger between Paramount Skydance and Warner Bros. Discovery deserves serious, evidence-based review. But antitrust enforcement should protect competition, not freeze legacy media companies in place while Big Tech platforms continue to dominate streaming. That is the central question state Attorneys General should ask as they review this transaction: would blocking the merger actually help consumers, workers and competition — or would it simply strengthen Netflix, Amazon, Disney and Google-owned YouTube? Since 2021, the average American household has seen its streaming bill increase nearly 26 percent. American families juggle multiple streaming services to access basic entertainment options, all while the cost of everyday goods continues to climb. A combined Paramount-Warner Bros. could provide consumers with a compelling entertainment platform that competes with streaming giants Netflix, Disney and Amazon. Tech giants have entered the industry with capital, resources, existing subscriber bases and distribution networks that dwarf the scale of legacy studios. The merger can provide greater competition against these dominant streaming platforms and will result in downward pressure on costs for families who are already stretched thin. Netflix alone continues to capture nearly a third of all U.S. streaming viewership. Amazon, Disney and Google-owned YouTube account for most of the rest. A combined Paramount-WBD would still rank fifth in U.S. household reach, behind all four of those platforms. This is not a monopoly forming. This is two smaller competitors struggling to survive in a market increasingly dominated by Big Tech. The antitrust math is straightforward. A combined Paramount-WBD would fall well short of the 30 percent market share threshold that triggers a legal presumption of harm under the DOJ and FTC's 2023 merger guidelines. The three largest platforms (Netflix, Disney and Amazon) already control 65 percent of all U.S. streaming viewership. Blocking a combined Paramount-WBD only strengthens the platforms that already dominate the streaming market and weakens competition. American workers should also care about the labor implications. The entertainment industry has shed more ...

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