The biggest media deal in history has all the hallmarks of Trump’s America

October 7, 2026 — 5:40pm

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Two of Hollywood’s five top film studios have officially merged, capping two years of disruption to the world’s traditional media industry in a deal spearheaded by the son of a major Trump ally who also happens to be the world’s eighth-richest man.

Paramount’s buyout of Warner Bros Discovery valued the latter at $159 billion, making it the biggest media deal in history. And the creation of the new merged entity, dubbed Skydance, has all the hallmarks of Trump’s America.

Bankrolled by Skydance boss David Ellison’s father – Oracle founder and tech oligarch Larry Ellison – with a little help from private equity and three Middle Eastern sovereign funds, the deal has had its fair share of critics. But with it now set in stone, David Ellison holds the keys to an entertainment and news business juggernaut, and that could change how you and I watch our favourite shows in the future.

Given it is one of the biggest disruptors to global media in the 21st century, the marriage of Paramount and Warner Bros has understandably received widespread condemnation for how it will affect the livelihoods of thousands of workers in the entertainment and media industries.

More than 1400 members of the entertainment industry, including the likes of actors Javier Bardem and Ben Stiller, signed an open letter this year opposing the deal, arguing it would result in a reduced industry.

As media moguls show Warner Bros the money, keep an eye on CNN – and US democracy

Bill WymanContributor

Hollywood actor Mark Ruffalo, who starred in HBO show Task last year, has been one of the most outspoken critics, arguing last week that the deal will stifle creativity, weaken free speech and cost jobs.

Coveted prize comes with baggage

David Ellison – the man heading up the combined company – has plans to use technology to........

© The Sydney Morning Herald