Michael Toth Director of Research at the Civitas Institute at the University of Texas July 06, 2026 3:39 PM ET Nearly a year has passed since news broke that Paramount was preparing to acquire Warner Bros. Discovery (WBD). Since then, the companies have finalized plans to combine their studios, streaming services and extensive portfolio of television and cable channels into a single media company better positioned to compete with Netflix, Amazon and Disney. The $111 billion merger has cleared regulatory hurdles in Washington, Brussels and elsewhere, and could close as early as this month.The opposition to the merger, by contrast, has largely consisted of an open letter signed by left-leaning actors and California AG Rob Bonta’s warning that the deal raises “red flags everywhere.” Yet neith