Paramount shareholders sue CEO over alleged secret Trump deal in Warner merger

Shareholders of Paramount Global filed a lawsuit in the Delaware Court of Chancery accusing CEO David Elison and his father Larry Elison, the Oracle co‑founder, of securing approval for Paramount’s $18 billion acquisition of Warner Bros. Discovery through a secret arrangement with former U.S. President Donald Trump. The complaint alleges the Elisons promised Trump free advertising slots worth up to $20 million and paid $16 million to settle a prior CBS lawsuit in exchange for Trump’s support, thereby violating fiduciary duties. The suit joins three other actions – by a coalition of state attorneys general, the Writers Guild of America and Paramount+ subscribers – that seek to block the merger. Plaintiffs argue the deal exposes Paramount to significant financial and legal risk and could trigger future congressional or regulatory investigations. Paramount has not responded to the allegations.