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The Ellison Trust-Busting Is Getting Political

Paramount’s planned takeover of Warner Bros. has triggered an all-out legal arms race between white-shoe law firms and an increasingly aggressive coalition of state A.G.s. Among the first battle lines: whether the Ellisons secured favorable regulatory treatment in exchange for favorable coverage.

David Ellison
A group of streaming consumers have brought a private antitrust action, contending that Paramount’s proposed $110 billion Warners deal violates Section 7 of the Clayton Act by substantially lessening competition. Photo: Noam Galai/Getty Images for Paramount
Eriq Gardner
May 26, 2026

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When Paramount Skydance arrives in court to defend its $110 billion merger with Warner Bros. Discovery, it will not be light on firepower. As I first reported, the company has retained Winston & Strawn rainmaker Jeffrey Kessler, fresh off his victory on behalf of states against Live Nation. And Kessler is merely the opening act. Latham, Cravath, and other white-shoe firms are expected to join the defense in an extravagant display of corporate legal muscle.