Loading summary
Transcript10 lines
- [00:00]
A
Minutes ago a federal judge has blocked Donald Trump's media takeover. Donald Trump had launched this effort alongside the Ellison's to take over Warner Brothers, take over cnn. And while this massive merger between Paramount and Warner Brothers was just blocked by a federal court which said that it likely violated antitrust laws, this is a major victory for states attorneys general across the country who sued the Trump administration arguing that antitrust laws prevent this massive media merger which would have put CNN under the hands of Larry and David Ellison who have direct ties to this White House. And now this merger, at least for now, is put on hold. A significant victory for the states that sued. A significant loss for the President whose approval ratings have fallen to their lowest point in American history for a sitting president who is desperately trying to change the media narrative around him, is seeking to try to consolidate media companies under the umbrella of Paramount and is not able to do so. As always, like comment share get the word out and make sure to hit that subscribe button. Get us to a million subscribers today. I want to go through the court order with you. It was the State of California vs Paramount Skydance Corporation and the order granted their motion for a temporary restraining order saying quote, this is an antitrust case. Plaintiffs the State of California, State of Arizona, State of Colorado, State of Connecticut, Commonwealth of Massachusetts, State of Minnesota, State of Nevada, New Jersey, New Mexico, New York, Oregon and Washington bring this lawsuit under the Clayton act to halt a merger between Paramount, Skydance and Warner Brothers. The plaintiff states advance that this merger, the transaction will eliminate competition between two of the remaining five major Hollywood studios in addition to combining two of the nation's largest cable television programs. Before the court is the plaintiff state's motion on a temporary restraining order prohibiting Paramount and Warner Brothers from consummating the transaction or otherwise acting to consolidate their operations. Defendants oppose this motion. Court held oral arguments. Having read the papers by the parties and carefully consider the arguments therein and those made at the hearing as well as the relevant legal authority and good cause appearing. The court grants the motion for TRO for the following reasons. When issuing a temporary restraining order, a court looks at a number of factors. Number one, mainly whether or not irreparable harm will be caused if the temporary restraining order is not granted. Essentially whether there's harm that would you could never change it because of what would happen if we didn't block this merger. So in this case there was irreparable harm, right? If you don't block the merger, it goes through and you can't undo a massive multi billion dollar merger that easily, it takes a long time and it would probably be logistically impossible. And that's what the court says. The court said because the plaintiff makes a strong showing that the transaction will substantially lessen competition in the wide release theatrical distribution market, they demonstrate irreparable harm would result if a TRO does not issue. The transaction would also be difficult, if not impossible, to unwind if permitted to proceed. Given the anticipated consolidation of operations, sharing of business sensitive information and potential termination or reassignment of employees. The plaintiff states have sufficiently established that irreparable harm would result in the absence of a tro. And so the court says this. The defendants are temporarily enjoined and restrained from closing or consummating the transaction or taking any steps directly or indirectly to integrate or consolidate their operations pursuant to this transaction. This order extends to defendants, agents, officers, servants, employees, attorneys and other persons who are in active concert or participation with defendants. The court waives a security requirement under Federal rule of Civil Procedure 65c and Local Rule Civil Rule 651 because plaintiffs have demonstrated that plaintiff states bring suit to enforce important public interests. The order shall remain in effect for 14 days. A TRO can turn into a permanent injunction or preliminary injunction if the court finds certain factors. And that's essentially what's going to happen next. And it comes as the Trump administration has desperately been seeking to remake the media landscape. They want to change essentially what you see on television, especially on cnn. And it all comes as Americans are just saying, I want cheaper healthcare. And while it's why I partner with a company called Chapter, Chapter is the only national advisor that compares every Medicare plan for you. See, Medicare was designed, was signed into law in 1965, the same year as the Voting Rights Act. It would create so many Americans would be denied, would never be denied health care again, just as we can't be turned away from the ballot box. But now Medicare has become so complicated, with thousands of plans, so much fine print, that many people aren't able to get the care they're entitled to. That's why I work with Chapter. Chapter looks at your doctors, your medications, your whole situation. After a free 20 minute call with Chapter, you will know you have a plan that fits your needs. It's super simple, super easy. It only takes 20 minutes. Call Chapter today 864-538-0664 and make sure you're on the right Medicare plan. And in response to today's massive court order, a Rob Bonta, the Attorney General of California, issued the following statement. Take a listen.
- [05:23]
B
We just secured an emergency court order blocking the merger of Paramount and Warner Brothers. This is a critical first step in our efforts to ensure this mega merger is never sees the light of day. Consolidation in the film and television industry not only leads to higher prices, it also leads to fewer opportunities for important stories to come to life and fewer ways for audiences to encounter stories, ideas and perspectives beyond their own experiences. With our lawsuit, we're fighting for a free and fair market and a thriving film and television industry that serves creatives and audiences alike. I'm thrilled to see today's ruling and we look forward to continuing to make our case.
- [06:04]
A
Well, this is a big blow for the president. He wanted to reform CNN really badly, even said it as such on television.
- [06:11]
C
Well, I know you don't want to talk about any other issues out of respect for Lindsey Graham, but we would love to have you back sometime because I do have a lot of other questions for you.
- [06:20]
A
Sure, we'll do that.
- [06:21]
C
We'll do that. Thank you for calling to have CNN go in a normal path and we'll do that. Well, I'm on a normal path right here, sir, and I appreciate your time and thank you for calling in. Okay, thanks a lot, so much. We'll be right back after this quick break.
- [06:35]
A
Well, his bid to get CNN on a, quote, normal path isn't going too well. And even today, as this order was being handed down, CNN was showing how Trump's approval ratings are down in the dumps. Take a look.
- [06:48]
C
New polling on the president's popularity, but not as far as the president is concerned. Fresh like a daisy. With us now, chief data analyst Harry and this doesn't smell good. No, the cake is getting baked. And what's being baked and daisies, I'll tell you that much. I mean, just take a look here. Okay. Trump's not approving. You know, a lot of stuff has happened over the last few months. Has any of that really lifted Trump from record lows for these given pollsters or, or second record? Not really. I mean, just take a look here. The Washington Post is all time lowest was minus 25 points back in April in terms of his net approval ratings. Approval minus disapproval. Now it's the second worst, tied for the second worst of all time at minus 24 points. CNBC was at his second lowest level at minus 18 points. And now he's at the record low for him in CNBC, minus 19 points. When you put it together, what essentially is going on is there are a lot of events in the world, but this cake as we get closer and closer to the midterm elections is starting to look at least a little bit baked here. All right. I mean, I suppose you could say if you're Republican, the good news is not getting worse, but you actually need to be getting better. Correct? These are, these are, these are horrible numbers. Johnny B. So put it in historical perspective. Yeah. Just how horrible are these numbers? I mean, it's the worst this century for a president at this point in his second term. When you look at an average of the CNBC and Washington Post polls, I mean, we're talking about right here, the average of CNBC and Washington Post minus 22 points. Barack Obama was underwater, but not anywhere near this level. He was at minus 8. And George W. Bush, in the middle of the Iraq war, when that was going south, he was at minus 20 points. So at this point, Donald John Trump is in fact holding the record for the lowest net approval rating for a president in a second term at this point in the second term of any president in the 21st first century. And if you think that's bad, and if you think this is bad, what is driving this number? It's independence, baby. It's independence. Look. All time worst at this point in a second term. Net Approval Rating among Independents Donald John Trump this segment has been about baking. He takes the cake at minus 45 points among independents. Even worse than Richard Milhouse Nixon, who was about to leave office because of Watergate, who had previously held the record at minus 37 points, and the aforementioned George W. Bush at minus 31 points. Donald John Trump the worst ever rating Net approval rating with independence at this point in a second term.
- [09:16]
A
Pretty bad as always. Like Comment Share get the word out. Subscribe below and I'll see you soon. Hey folks, thanks so much for watching. Feel free to add this podcast on Apple Podcasts, Spotify or anywhere you watch for the latest breaking news and and daily hits throughout the day. Make sure to follow subscribe. See you soon for more when maintaining
- [09:36]
D
your daily wellness rituals is important to you, the change in routine during the summer can feel daunting. Cachava's new travel packs help you stick to your daily ritual even when you're on the go. Just one packet of Cachava's all in One Nutrition Shake provides complete nutrition with 25 grams of protein, 6 grams of fiber, greens, adaptogens and much more. So you'll be fueled and ready for wherever life or your summer adventures take you. No fillers, no nonsense, just the good stuff your body craves. Plus, it actually tastes delicious, but you can try it for yourself because the Variety pack includes all six delicious fan favorites chocolate, vanilla, chai, matcha, coconut, acai, and strawberry. So instead of worrying about sticking to your daily ritual, simplify it. While with Kachava, go to kachava.com and use code fitness for 15 off. That's K-A-C-H-A-V-A com code fitness.