The Megyn Kelly Show

Episode: Jasmine Crockett Enters Senate Race, Paramount's Hostile Takeover, Mamdani's Mansion: AM Update 12/9
Date: December 9, 2025
Host: Megyn Kelly

Episode Overview

On this AM Update, Megyn Kelly dives into recent dramatic developments in media mergers, political shakeups in Texas, late-night television controversies, and the personal choices of New York City’s incoming mayor. The show dissects Paramount's hostile bid to acquire Warner Bros. Discovery, Jasmine Crockett's fiery Senate campaign announcement, Jimmy Kimmel’s turbulent contract renewal, and Zoram Mamdani's move from modest living to Gracie Mansion.

Paramount’s Hostile Takeover Bid for Warner Bros. Discovery

[00:39-08:50]

Key Points

• Paramount’s Direct Offer:

  • Paramount Skydance has launched a hostile all-cash offer—$30/share, valuing Warner Bros. Discovery at ~$108 billion—backed by the Ellison family and multiple financiers.
  • David Ellison (Paramount) on CNBC:

    “Our offer is $30 a share, all cash, $41 billion in equity...pro consumer, pro creative talent, pro competition…” [02:51]

• Competing Bids:

  • Netflix has already signed an $83 billion deal, paid out in cash and stock, but their deal includes only film and TV studios (HBO, HBO Max) and spins off cable assets.
  • Paramount’s bid includes all assets, such as CNN, TBS, and TNT.

• Shareholder Showdown:

  • Paramount accused Warner Bros. Discovery’s board of never “engag[ing] meaningfully” with its proposals.
  • CNBC’s David Faber explains:

    “...the shareholder vote on the Netflix transaction is going to be the key...Paramount feels they were not given attention they deserved...by bringing a tender offer...they are going to share everything with shareholders of Warner Brothers...” [04:06]

• Regulatory Hurdles:

  • Both deals require approval from the Trump administration.
  • Netflix anticipates 12–18 months for approval; Paramount claims theirs could clear in just a year.
  • Netflix’s breakup fee: $5.8B if deal fails, $2.8B if Warner backs out.

• Political & Financial Entanglements:

  • Paramount’s backers include Saudi Arabia, Qatar, Abu Dhabi, and Jared Kushner’s Affinity Partners, though none would have board seats.
  • Megyn Kelly’s take:

    “Wait, so could Jared Kushner soon be running CNN? Can you imagine?” [06:14]

  • Senator Chris Van Hollen (D-MD) criticizes the merger, citing potential “grift” and Trump family involvement.

• Presidential Commentary:

  • Donald Trump at the Kennedy Center:

    “They have a very big market share...that share goes up a lot. So I don’t know, that’s going to be for some economists to tell. And also, I’ll be involved in that decision too.” [05:56]

  • On Paramount’s bid and Kushner’s support:

    “[Jared Kushner’s] really tried to work on Gaza. I think Gaza’s his primary thing.” [08:27]

• Next Steps:

  • Warner Bros. board to review Paramount’s offer and respond within 10 days. Offer expires January 8, 2026.

Texas Senate Race: Jasmine Crockett’s Bombastic Entry

[08:50-13:43]

Key Points

• Crockett Jumps In:

  • Jasmine Crockett, a Democratic U.S. Congresswoman, launches Senate run, immediately reshaping the Texas race.
  • Rep. Colin Allred drops out, citing Crockett’s entry:

    “It was about the fact that with, you know, three strong candidates running...we would certainly have a runoff. And to me, going through a bruising primary was not in the best interest of the state or the party.” [09:23]

• Crockett’s Firebrand Style:

  • Known for social media presence and unapologetically direct rhetoric targeting Republicans:

    “We are going to be in your face. We are going to be on your asses...We in these hot ass Texas streets, honey. Y’all know we got Governor Hot Wheels down there. Come on now. Donald Trump is a piece of shit, okay?...Not only are we going to punch back, but we about to beat you down.” [10:06]

• Campaign Image:

  • Crockett's campaign launch video features Trump calling her "a very low IQ person” repeatedly in a mocking tone:

    “How about this new one? They have their new star, CROCKETT...She’s the new star of the Democrat Party, Jasmine Crockett. They’re in big trouble...She’s a very low IQ person. I watched her speak the other day.” [11:17]

• Electoral Landscape & Odds:

  • Oct. University of Houston poll: Crockett leads a 4-way field (31%), Talarico 25%, Beto O'Rourke 25%, Allred 13%
  • Dems are eyeing the seat held by Republican Senator John Cornyn, facing his own primary.
  • Analyst Chris Cillizza’s skepticism:

    "Political wisdom would suggest she's not going to win a general election...if Crockett is the nominee, I don’t know that national Democrats spend any money in Texas...she has an under 10% chance of winning the general election." [13:00]

  • Democratic statewide drought: 30+ years of no wins despite heavy investments.

• Key Dates:

  • Primary set for March 3rd.

Jimmy Kimmel’s Rocky Late-Night Future

[15:02-18:03]

Key Points

• Kimmel’s Contract Extended:

  • ABC renews Kimmel’s contract for a single year (through May 2027)—a move Megyn Kelly calls "a fig leaf."
  • Comes after Kimmel was suspended for six days following comments about Charlie Kirk’s murder, where he blamed MAGA, drawing FCC and affiliate backlash.

• Station Preemption & Suspension:

  • Nexstar (over 200 stations) and Sinclair preempted his show.
  • No formal apology from Kimmel on return; blame shifted to Trump and media for “taking his words out of context.”

• Ratings Woes:

  • Kimmel’s viewership has dropped from 2.4M (2015) to 1.6–1.98M today; key ad demo (25–54) is down 75% over a decade.
  • Megyn Kelly’s critique:

    “Turns out, not that many Americans want to be lectured to by a preening, smug elitist millionaire who can’t stand half the country.” [17:46]

• Contextual Notes:

  • Kimmel’s extension reportedly timed around respect for Stephen Colbert, whose CBS late show is canceled in May.

Mayor-elect Zoram Mamdani’s Mansion Move

[18:03-19:54]

Key Points

• From Modest Apartment to Mansion:

  • Democratic socialist Mamdani, elected NYC mayor, moves from rent-stabilized $2,300/month Astoria apartment to lavish Gracie Mansion (11,000 sq. ft., 5 bedrooms, ballroom) "for safety and focus on affordability agenda."

• Maintaining Everyman Image:

  • Mamdani’s narrative long emphasized his modest living situation as proof of solidarity with ordinary New Yorkers.
  • Critics, notably Andrew Cuomo, used Mamdani’s wealthy background and cushy salary as a counterpoint.
  • Debate moment replayed:

    “He has a rent stabilized apartment that a poor person's supposed to have.” —Donald Trump [19:38]

• Controversy:

  • Mamdani reportedly plans to keep his apartment even while living in Gracie Mansion.
  • His Instagram post attempts to justify the move as necessary for his role and public safety.

Notable Quotes & Memorable Moments

• David Ellison (on Paramount deal):

  “It’s pro-consumer, pro-creative talent, pro-competition...When shareholders see what is in our offer, that’s what they’ll vote for.” [02:51]

• Donald Trump (on media mergers):

  “They have a very big market share...That’s going to be for some economists to tell. And also, I’ll be involved in that decision too.” [05:56]

• Jasmine Crockett (on campaign style):

  “Not only are we going to punch back, but we about to beat you down.” [10:37]

• Chris Cillizza (on Texas Dem prospects):

  “If Crockett is the nominee, I don’t know that national Democrats spend any money in Texas.” [13:00]

• Megyn Kelly (on Kimmel):

  “Turns out, not that many Americans want to be lectured to by a preening, smug elitist millionaire who can’t stand half the country.” [17:46]

Timestamps for Major Segments

• Paramount vs. Netflix Media Wars: 00:39–08:50
• Texas Senate Race—Jasmine Crockett: 08:50–13:43
• Jimmy Kimmel’s Contract & Ratings: 15:02–18:03
• NYC Mayor-elect Mamdani's Mansion: 18:03–19:54

Overall Tone

• Direct, biting, and often sharply satirical—Megyn Kelly embraces her “no BS, no agenda” ethos, using sarcasm and candid critique, especially toward public figures and perceived hypocrisy.

This summary delivers a comprehensive, engaging breakdown of the episode’s key topics, insights, and standout lines in Megyn Kelly’s unmistakable voice.