Elizabeth Warren Warns Of 'Cloud Of Corruption' In Warner Bros. Buyout: Calls On Pam Bondi To Step Aside
Sen. Elizabeth Warren (D-Mass.) has spoken out in opposition to potential deals by either Paramount Skydance (NASDAQ:PSKY) or Netflix Inc (NASDAQ:NFLX) to be able to buy Warner Bros. Discovery (NASDAQ:WBD). A new report shows why Warren thinks Attorney General Pam Bondi should recuse herself from a review of any of the deals.
Warren Vs. Bondi
Potential deals for Warner Bros. Discovery have raised concerns of conflicts of interest for numerous reasons related to the bidders of the media company and connections to President Donald Trump.
A recent letter written by Warren and Sen. Richard Blumenthal (D-Conn.) is being circulated again as it highlights potential conflicts of interest if Bondi is part of the review process on any potential deal, as reported by Variety.
"We write to urge you to recuse yourself from any involvement in Department of Justice (DOJ) reviews of deals involving Warner Bros. Discovery and either Netflix or Paramount Skydance," the letter reads.
The letter lays out potential conflicts of interest involving lobbying done by both Netflix and Paramount to the Trump Administration. Lobbying company Ballard Partners was hired by both Netflix and Paramount.
Ballard Partners is named as Bondi's previous employer in the letter.
Benzinga reached out to the Department of Justice for comment.
"Lobbying firm Ballard Partners, your former employer, is a favorite firm among companies with business before the Trump Administration," the letter reads.
Warren and Blumenthal highlight that the Department of Justice faces previous allegations of inappropriately influencing the Trump Administration on decisions. Along with Bondi, White House Chief of Staff Susie Wiles also previously worked for Ballard.
"Giant corporations appear to be acting under the assumption that signing with Ballard Partners may be their key to currying favor with the administration."
The letter said that many of the recent signings with Ballard have been companies that are lobbying the Department of Justice in 2025.
"These connections are troubling because the cloud of corruption surrounding the White House involvement in the Warner Bros. deal extends to Ballard."
An ethics agreement from Bondi agreeing to not participate in matters involving companies that Ballard represents is currently in effect and expires on Feb. 4, 2026, according to the report.
"This agreement is an important acknowledgement of the potential ethics concerns surrounding your involvement in this matter. Even after the February 4 deadline, any involvement in the Netflix-Paramount matter would raise the appearance of serious impropriety."
Latest on Warner Bros. Merger
An agreement between Netflix and Warner Bros. that would see the streaming giant acquire the studio division and HBO Max from Warner Bros. is currently the deal approved by Warner Bros.
Paramount Skydance has turned to a hostile takeover bid, trying to appeal directly to Warner Bros. shareholders. Warner Bros. has told shareholders to reject the $30 per share bid from Paramount.
During the bidding process for Warner Bros. Discovery, a Trump Administration official warned bidders other than Paramount Skydance about making offers for the media company. The official said that companies outside of Paramount Skydance could have a tough time with regulators.
Paramount Skydance, which includes Trump ally Larry Ellison as a top shareholder, was reported as the favored bidder for Warner Bros. Discovery.
Trump himself has said that he will be "involved" in the review of the Warner Bros. buyout, which has created concerns of conflicts of interest. Trump recently spoke out against CNN, a Warner Bros.-owned media channel.
Comments by Trump have led to concerns that a merger could see CNN make changes in its treatment of the president and potential censorship.
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