A lawsuit against Paramount Skydance alleges former President Donald Trump personally assured Oracle founder Larry Ellison of a successful bid for Warner Bros. Discovery. The suit claims Trump told Ellison, "if you really, really want it... I'll make sure you get it." Paramount’s president reportedly relayed this conversation regarding the bidding war against Netflix.
Paramount dismissed the claims as frivolous and entirely without merit. The company stated it intends to defend itself vigorously. On March 18, the Department of Justice antitrust head asserted that political factors will absolutely not influence the acquisition review.
Warner Bros. shares closed down approximately 1% following the DOJ's comments. Paramount shares dropped 2.5% during the same period. Reports indicated no specific market reaction to the lawsuit itself.