Fox News veteran Chris Wallace has written an opinion piece arguing that a lawsuit filed by twelve US state attorneys general to block Paramount's acquisition of Warner Bros. Discovery is being used as a political tool rather than a genuine antitrust measure. Wallace, who is a paid senior adviser to RedBird Capital (a major stakeholder in Paramount and the deal), contends the case improperly invokes concerns about news media diversity to challenge a merger that would combine CBS News and CNN, even though the lawsuit itself contains no formal antitrust claims relating to news operations.

The suit relies on California's Cartwright Act, the state's antitrust law, and formally alleges harm only in three markets: wide-release theatrical films, top-grossing films and cable affiliate fees, with no mention of news competition. Wallace highlights comments from California Attorney General Rob Bonta and New York Attorney General Letitia James suggesting the case is also motivated by fears over reduced viewpoint diversity in news, a rationale he dismisses as outdated given CNN and the CBS Evening News together reach only about 4.6 million viewers, roughly 1.7% of US adults, in a fragmented modern media landscape spanning streaming, podcasts and social platforms.