A prime financial advisor for Gov. Gavin Newsom might internet a fairly penny from the controversial sale of Warner Bros. Discovery to Trump-friendly Paramount.
Dee Dee Myers, a former Warner Bros. exec who now heads the governor’s Workplace of Financial Growth, might rating as a lot as $280,000 from the acquisition of her former employer by David Ellison’s Paramount Skydance, in keeping with state filings.
The proposed sale worth of $31 per share might imply a windfall of roughly $28,000 to $280,000, primarily based on approximations from Myers’ financial disclosure type filed final 12 months.
The state jobs czar, who was a communications govt at Warner Bros. from 2014 to 2020, reported proudly owning between $10,000 and $100,000 price of shares within the leisure big in 2024 in a disclosure filed final 12 months.
State officers are required to report the worth of inventory holdings at their peak worth in a given 12 months, so Myers’ Warner Bros. reported holdings are equal to roughly 900 to 9,000 shares within the firm primarily based on a peak worth of $11 in 2024 — price about $28,000 to $280,000 after the proposed sale.
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It’s unclear when precisely Myers acquired the shares, although it’s widespread for prime executives at media companies to obtain inventory grants as a part of compensation.
Myers’ workplace didn’t instantly reply to questions concerning the standing of her Warner Bros. holdings.
The proposed acquisition of Warner Bros. by Paramount set off a wave of alarm amongst liberal Dems and Hollywood gamers, given CEO David Ellison’s ties with the Trump administration and the president’s statements concerning the offers, which had been seen as making use of political stress.
“It’s horrifying that any president would put his finger on the dimensions for one firm over one other,” producer Invoice Gerber, a former exec at Warner Bros, advised Politico.
A gaggle of Democratic senators wrote a letter to Ellison this month demanding he protect all information associated to the proposed transaction over issues about political meddling within the deal, which requires regulatory approval.
Netflix dropped its bid for Warner Bros. Discovery on Thursday, saying the deal was “not financially engaging” after Paramount’s $31 per share provide.
California Legal professional Normal Rob Bonta stated on Feb. 20 his workplace was taking a “shut look” on the proposed transactions on antitrust grounds.
“These two Hollywood titans haven’t cleared regulatory scrutiny — the California Division of Justice has an open investigation, and we intend to be vigorous in our assessment,” he wrote on X Thursday.
