Wall Street Breakfast Paramount presses Warner board
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Jan 12, 2026 Paramount Skydance takes a bold step by nominating its own directors on Warner's board while also seeking shareholder information. Meanwhile, former Federal Reserve officials defend Jerome Powell amidst DOJ subpoenas, bolstering his position as Governor. Credit card issuers feel the heat from a proposed 10% rate cap mentioned by Trump. In tech news, Eli Lilly and NVIDIA announce a major partnership to create an AI drug lab, hinting at exciting innovations in pharma.
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Paramount Escalates Bid For Warner
- Paramount and Skydance are actively challenging Warner Bros. Discovery's board by nominating directors and suing for shareholder information.
- They also proposed a bylaw forcing shareholder approval for any global networks separation to influence the deal with Netflix.
Ex-Fed Chiefs Defend Powell
- Former Fed chiefs called the probe into Jerome Powell an unprecedented attempt to undermine central bank independence.
- They warned such prosecutions resemble tactics from emerging markets and could harm inflation control and economic functioning.
Subpoenas Lower Odds Powell Will Exit
- The subpoenas appear to have reduced the likelihood Powell leaves the Fed after his chairmanship ends.
- Prediction markets dropped Powell's odds of leaving as investigators' actions may spur him to stay to defend Fed independence.