Trump's approval of murky merger might gut California's economy: former GOP operative
Former GOP operative Steve Schmidt warned the Trump administration's approval of Paramount Skydance's $110 billion acquisition of Warner Bros. Discovery will economically devastate California. In his podcast, The Warning, Schmidt suggests CEO David Ellison will relocate Paramount from California to . . .
HomeTrumpU. S. NewsWorldScienceVideoInvestigationsEthics PolicyAbout UsFILE PHOTO: The Paramount water tower is shown on the Paramount studio lot in Hollywood, Los Angeles, California, U. S. , January 13, 2026. REUTERS/Mike Blake/File PhotoFormer GOP operative Steve Schmidt warned theTrumpadministration's approval of Paramount Skydance's $110 billion acquisition of Warner Bros. Discovery will economically devastateCalifornia. In his podcast,The Warning, Schmidt suggests CEO David Ellison will relocate Paramount from California to Texas, crushing Los Angeles and the state economy altogether. Schmidt characterized the deal as a corrupt act, alleging Paramount's $16 million settlement of President Donald Trump's CBS lawsuit constitutes a bribe to secure Justice Department approval. He called on the California Legislature to convene a special session investigating the merger as corruption rather than merely anti-competitive behavior. Schmidt urged Democratic lawmakers, "be very, very tough customers as we get closer and closer to the election," suggesting the deal represents political favoritism by the Trump administration in exchange for corporate settlement payments. Watch thevideobelow. Your browser does not support the video tag. For customer support contactsupport@rawstory. com. Report typos and corrections tocorrections@rawstory. com. Stories Chosen For You{{ post. roar_specific_data. api_data. analytics }}