David Ellison’s $24bn Bid for Warner Bros. Discovery Gains Political Weight with Trump’s Backing

Paramount Skydance chief executive David Ellison is intensifying efforts to acquire Warner Bros. Discovery (WBD), despite the media giant rejecting three successive offers — and he may have an unexpected advantage: the support of US President Donald Trump.

Ellison, the son of Oracle billionaire Larry Ellison, has been leading a relentless pursuit to buy the home of HBO, CNN, and DC Studios in a deal worth more than $23.5 per share, sources close to the negotiations confirmed. But Warner Bros. Discovery CEO David Zaslav and the company’s board have unanimously rejected the latest offer, insisting the firm’s true value is far higher.

While several major players — including Comcast and Amazon — are also weighing offers, Ellison’s allies privately argue he is the only suitor who could comfortably pass regulatory scrutiny under the Trump administration. One adviser described this perceived advantage as Ellison’s “Trump card.”

Trump’s reported personal support for the Ellison family could prove pivotal. “They’re friends of mine. They’re big supporters of mine,” the president told reporters earlier this month, adding that he believed the Ellisons would “make the right decisions” and “revitalize CBS.”

Such remarks have raised eyebrows across Washington and Wall Street, with critics warning that political influence could sway antitrust reviews. Senator Elizabeth Warren has already voiced concerns over the potential risks of billionaire control in media mergers.

The younger Ellison, who once donated heavily to Democratic causes, has recently moved closer to Trump’s orbit, appearing at UFC events and agreeing to Trump-aligned Federal Communications Commission (FCC) conditions during his Paramount takeover. His father, Larry Ellison, has also publicly backed Trump and is reportedly leading a group seeking to purchase TikTok’s US assets — a move that could hand the president a significant political win.

Despite regulatory and political controversy, Ellison insists his proposal represents a strategic merger, not a political play. In a letter to WBD’s board obtained by The New York Times, he wrote: “We are confident that we are the best partner for WBD, with a combination of our two companies creating a scaled Hollywood champion to the benefit of shareholders, consumers, and the entertainment industry at large.”

If successful, the acquisition would unite Paramount, Skydance, and Warner Bros. Discovery under a single entertainment powerhouse — controlling major news, film, and streaming properties from CNN and HBO to CBS and Paramount+.

Zaslav, however, appears to have his own vision. Sources say he is exploring partnerships with Amazon or Netflix, or possibly splitting WBD into two publicly traded companies. The company has already confirmed it is reviewing multiple offers.

For now, Ellison remains undeterred — backed by tens of billions in family capital and, perhaps, the quiet endorsement of the world’s most powerful political ally.