Overview of The Town episode: Larry Ellison, Trump, and the Warner-Paramount deal
This episode examines the under-the-radar role Larry Ellison is playing in the Ellison family’s push to build a Hollywood mega-studio through Skydance/Paramount and the broader Warner-Paramount merger conversation. Matt Belloni speaks with Wall Street Journal reporter Emily Glazer about how Ellison’s close relationship with Donald Trump, major political donations, and shared ideological interests may have helped smooth the regulatory and political path for one of the biggest media deals in Hollywood history. The episode closes with a short box-office discussion focused on Supergirl and the broader weakness of the superhero genre.
Larry Ellison’s influence behind the scenes
Not just a bankroll
- Larry Ellison is portrayed as more than a rich backer for his son David’s media ambitions.
- Glazer argues that Larry is an active strategic force: a “mastermind” who thinks about the future intersection of media, tech, and government power.
- He is still deeply involved in Oracle and has expanded into areas like TikTok-related infrastructure, AI, and media ownership.
The Trump relationship
- The key revelation is that Larry Ellison donated more than $45 million to Trump’s 2024 campaign, with more money given afterward through other channels.
- Ellison and Trump reportedly have a real personal rapport, not just a transactional one:
- similar age
- shared ideological views
- frequent phone calls and in-person meetings
- proximity in Florida
- Their relationship appears to have made Trump more openly supportive of the Ellisons’ media ambitions.
Shared worldview and media politics
- The episode highlights overlapping views on:
- Israel
- skepticism toward mainstream media
- a desire to reshape legacy media institutions
- Ellison’s support for Israel and his long-standing friction with the press are presented as important parts of his alignment with Trump.
- The discussion also notes that Ellison has supported candidates across party lines over the years, including:
- Bill Clinton in the past
- Marco Rubio in 2016
- Tim Scott in 2024 before switching to Trump
- David Ellison also had a history of donating to Democrats before the Trump years.
David Ellison, Paramount, and the regulatory push
Behind-the-scenes pressure
- One of the more surprising reporting details is that David Ellison allegedly contacted a Paramount board member while the merger was still pending and before he officially owned the company, pressing for the Trump lawsuit settlement to move faster.
- That undercuts the clean separation Paramount had suggested between David and the settlement process.
The Trump lawsuit settlement
- Paramount ultimately settled Trump’s lawsuit over the CBS/Kamala Harris interview for $16 million.
- The episode suggests the settlement, plus the broader political alignment, helped clear the way for regulatory approval of the merger.
Bigger picture
- The episode frames the Ellison-Trump relationship as a case study in how business, politics, and media power are increasingly intertwined.
- Belloni and Glazer stress that this is not necessarily “illegal corruption,” but it does raise serious questions about influence, access, and whether this kind of behavior is becoming normalized.
- The scale of money, the undisclosed political giving, and the speed of approvals all stand out.
What this means for Hollywood and regulation
Antitrust concerns may be more political than legal
- The guest notes that the underlying antitrust case against the merger may not be especially strong.
- The bigger issue may be the appearance of favoritism and the ease with which powerful companies can navigate the process under a friendly administration.
- The conversation also points to the possibility that future political control in Congress could change the regulatory environment quickly.
A wider pattern
- The episode situates the Ellison deal in a broader trend:
- wealthy media and tech owners using political donations and personal relationships to shape outcomes
- government approvals moving quickly in a lighter regulatory era
- companies racing to close deals before political winds shift
Call Sheet: box office and superhero fatigue
Supergirl looks weak
- In the second half, Belloni and Craig Horlbeck discuss tracking for Supergirl, which looks soft at around $50 million.
- They compare it to past superhero openings and conclude there is no clean comp because the market has changed so much.
Superhero fatigue
- Their take: the superhero genre may be in a long decline, even if a few big titles still hit.
- They argue the issue is not just quality, but saturation and audience fatigue after nearly two decades of dominance.
- The episode suggests DC’s strategy looks risky, especially for a franchise trying to reset while still depending on the same old IP.
Key takeaways
- Larry Ellison is not just funding the deal; he may be helping shape the political and strategic environment around it.
- His relationship with Trump appears personal, ideological, and financially consequential.
- David Ellison’s merger push has involved aggressive behind-the-scenes maneuvering, including pressure around the Trump settlement.
- The episode raises broader concerns about how billionaires can influence media ownership, regulation, and political outcomes.
- The box-office segment reinforces a more general theme in Hollywood: legacy IP is under pressure, and superhero brands are no longer automatic wins.