Senior Democratic lawmakers in the United States have publicly expressed deep concerns that Paramount Skydance’s aggressive bid to acquire Warner Bros. Discovery may pose serious national security and influence risks, adding a contentious political dimension to an already high-stakes corporate takeover battle.

This scrutiny comes as Paramount’s hostile all-cash offer competes with a rival deal from Netflix for control of one of America’s most iconic media companies.

Paramount Skydance launched its $108.4 billion tender offer directly to Warner Bros. Discovery shareholders after the company’s board accepted Netflix’s $72 billion proposal, arguing that its bid offers greater cash value and a faster, cleaner path to regulatory approval.

The financing for Paramount’s bid includes contributions from Middle Eastern sovereign wealth funds and a private equity firm led by Jared Kushner, the son-in-law of former President Donald Trump — a combination that has drawn sustained criticism from Democratic leaders.

In formal statements, Democratic Senator Elizabeth Warren characterised the Paramount Skydance proposal as a “five-alarm antitrust fire,” warning that the deal’s backers, which include Trump allies and foreign investors, raise “serious questions about influence-peddling, political favoritism and national security risks.” Lawmakers have urged that any takeover attempt involving significant foreign investment and political entanglements be rigorously reviewed by the Department of Justice and the Committee on Foreign Investment in the United States to ensure compliance with U.S. law and protect strategic media infrastructure.

Concerns among Democrats are not limited to antitrust dynamics.

Some members of Congress have also probed the broader relationship between Paramount and the federal regulatory process, including whether previous concessions or settlements involving Trump-linked litigation could signal undue political influence in media transactions.

In related oversight efforts earlier this year, House Democrats demanded documents and explanations regarding communications between Paramount Skydance, the Federal Communications Commission and the Trump White House during the approval of a previous merger, saying the company had been uncooperative with inquiries.

Paramount and its supporters counter that their offer is structured in a way that minimises regulatory hurdles, noting that foreign investors have relinquished governance rights to alleviate potential national security review triggers.

The company also asserts that its bid would deliver enhanced competition in the entertainment industry by offering shareholders a compelling and well-financed alternative to Netflix’s proposal.

As both corporate bids proceed under intense regulatory, political and media scrutiny, lawmakers from both parties are pressing for thorough examination of national security, antitrust and governance implications.

The outcome of this clash could shape the future of U.S. media ownership, the balance of power in global entertainment markets, and the role of political influence in major corporate transactions.