The Megyn Kelly Show - Jasmine Crockett Enters Senate Race, Paramount's Hostile Takeover, Mamdani's Mansion: AM Update 12/9

Episode Date: December 9, 2025

Paramount launches a hostile takeover bid for Warner Bros Discovery, escalating the high-stakes battle that began when Netflix announced its own signed deal just 24 hours earlier. Texas Congresswoman Jasmine Crockett officially jumps into the Senate race, setting up a fiery primary fight against State Representative James Talarico. Jimmy Kimmel inks a one-year contract extension with ABC, months after affiliates pulled his show off the air over controversial remarks. New York City Mayor-elect Zohran Mamdani says he’s preparing to relocate from his $2,300 rent-stabilized apartment to the 11,000-square-foot Gracie Mansion.  Herald Group: Learn more at https://GuardYourCard.com Riverbend Ranch: Visit https://riverbendranch.com/ | Use promo code MEGYN for $20 off your first order. Hosted by Simplecast, an AdsWizz company. See pcm.adswizz.com for information about our collection and use of personal data for advertising.

Good morning, everyone. I'm Megan Kelly. It's Tuesday, December 9th, 2025, and this is your AM update. Our offer is $30 a share, all cash, $41 billion in equity that's backstop by the Ellison family. Paramount announcing a hostile bid to purchase Warner Brothers Discovery just one day after Netflix announces a signed deal to do the same. Turning Texas Blue is what I want to talk to y'all about today. U.S. Congresswoman from Texas, Jasmine Crockett announces a run for U.S. Senate. Late-night host Jimmy Kimmel's contract extended for a year, months after the host was yanked off the air for a whopping six days. And New York City mayor-elect Zoram Mamdani announces he is prepping for his move to a New York City mansion. All that and more coming up in just a moment

on your AM update. As President Trump is settling into his new administration, one of the top Democrats in Congress aiming to undermine the Trump agenda is Senator Dick Durbin. And according to our sponsor, the Electronic Payments Coalition, Senator Durbin has a new scheme, a government takeover of your credit card. Today, Americans have thousands of choices in credit cards, but they say Senator Durbin's plan will result in less competition and less security. and that means more risk for your credit and identity.

Learn more at guardyourcard.com and consider telling your senators to stop Dick Durbin's government takeover of your credit card before it's too late. Paramount Skydance on Monday launching a hostile takeover bid to purchase Warner Brothers Discovery, taking its offer directly to shareholders just one day after Netflix announced a signed deal

to purchase the Legacy Studio. A hostile takeover, is when a buyer takes control of a target company without the approval or consent of the target company's Board of Directors. Paramount offering shareholders an all-cash offer, valuing the company at about 108 billion, as opposed to Netflix-signed deal of $83 billion, paid out in a mix of cash and stock, CEO of Paramount Skydance, David Ellison, pitching his offer yesterday morning on CNBC. Our offer is $30 a share, all cash, $41 billion in equity that's backstopped by the Ellison family and Redbird, $54 billion in debt with commitments from City, Bank of America, and Apollo. We have faster regulatory certainty to close, and our deal is pro-consumer, it's pro-creative talent, it's pro-competition, and we believe that when you actually, to further contextualize, there are $30 in cash, or sorry, $30 a share,

is basically $17.6 billion in cash more than the $23 in share that they signed up. And we believe when they see what is currently in our offer, that that's what they'll vote for. Paramount taking the position that Warner Brothers never, quote, engaged meaningfully with its proposals throughout the high-stakes bidding war. Paramount's offer would buy all of Warner Brothers' discoveries assets, including its cable networks like CNN, TBS, and TNT. Netflix's deal, by contrast, would acquire only the film and TV studios, including HBO and HBO Max, with Warner Brothers spinning off its cable channels into a separate company.

CNBC host David Faber with more on how the upcoming process will play out. What this will have the effect of doing, essentially, is making the shareholder vote on the Netflix transaction, the key, where shareholders will be making their voices heard conceivably, according to, paramount. And the fact that throughout in this press release, they feel as though they were not given the attention they deserved and were not treated on equal footing to Netflix. And hence, in bringing a tender offer of this type to shareholders, they are going to share everything with those shareholders of Warner Brothers in the hopes, of course, that they will put pressure on the company in some way and or at least indicate that they're unwilling to vote in favor of

the current transaction with Netflix. As these things go, when you file a tender offer, you are then put the company you filed against in the position of having to file a D9, which requires them to come out with all the reasons why they decided what they did. And so we're going to get a lot more explication, let's say, around the process itself. Any deal, regardless of whether it's Netflix or Paramount, will require regulatory approval from the Trump administration. In a sign of Netflix's confidence, its merger will be approved, the streaming platform agreeing to pay Warner Brothers a $5.8 billion breakup fee if the deal does not go through.

Conversely, Warner Brothers must pay Netflix $2.8 billion if it pulls out of the deal to go with someone else. Aramount arguing the Netflix deal faces steeper regulatory hurdles since it would combine the number one streaming service, Netflix, with the number three service, HBO Mac. President Trump's Sunday at the Kennedy Center, conceding Netflix may have a problem. Should they be allowed to buy Warner Brothers? Well, that's the question.

They have a very big market share. And when they have Warner Brothers, you know, that chair goes up a lot. So I don't know. That's going to be for some economists to tell. And also, and I'll be involved in that decision too. But they have a very big market share. There's no question, though. It could be a problem.

David Ellison's father, Chief Technology Officer and co-founder of tech giant Oracle, Larry Ellison, is also a strong Trump ally. Paramount expecting its offer could be approved in one year, whereas the Netflix deal is anticipated to take 12 to 18 months. The junior Ellison, appealing to movie fans, vowing to put 30 movies per year into theaters. The Netflix deal drawing industry backlash from those worried about what a streaming giant's takeover of a legacy studio could mean for traditional movie theaters. Netflix attempting to calm those fears, though not entirely successfully, saying it, quote, expects to maintain Warner Brothers' current operations and build on its strengths, including theatrical releases for

films, but without any guaranteed number. Netflix, with limited exceptions, does not release its movies theatrically. Possibly complicating Paramount's bid to fund the deal, the company is backed by multiple foreign sovereign wealth funds, including Saudi Arabia, Qatar, and Abu Dhabi, as well as President Trump's son-in-law Jared Kushner's fund, affinity partners. Wait, so could Jared Kushner soon be running CNN? Can you imagine? Ah, alas, each of those players agreeing that they will not take any governance role in the company should their takeover bid be completed. U.S. Senator from Maryland, Democrat Chris Van Hollen, attacking the deal in an ex post, quote, more grift. The Warner Brothers merger was already suspect,

But now Trump's family is getting in on the act. This cannot stand. President Trump asked yesterday at the White House about Paramount's bid. Do you support the Paramount bid for Warner Brothers that came up this morning? You spoke about Netflix last night, saying you have concerns about them. I know the company's very well. I know what they're doing, but I have to see. I have to see what percentage of market they have.

We have to see the Netflix percentage of market, Paramount, the percentage of market. I mean, none of them are particularly great friends. mind. You know, I just, I want to, I want to do what's right. So, it's so very important to do what's right. Paramount is supported by Jared Kushner, Mr. President. Would that impact your decision? If Paramount is, I don't know, I haven't, I've never spoken over, but he's really tried to work on Gaza. His primary thing is Gaza. The Warner Brothers Board of Directors responding to Paramount's bid, telling shareholders it will evaluate the offer and release its decision within 10 days.

Paramount's offer expires on January 8, 26. U.S. Congresswoman from Texas, Democrat Jasmine Crockett, officially launching a run for Senate on Monday. Crockett now set to challenge Texas State Representative James Tala Rico in the primary. Her announcement coming after weeks of speculation and just hours after former Congressman Colin Alred dropping out of the race. Alred confirming yesterday on CNN, his decision to exit the race was due to Crockett's decision to enter. Jasmine Crockett is very openly considering running. Is that part of why you decided to not run anymore? You know, of course it is.

And I think, you know, listen, Jasmine's a friend of mine, and we've served together and I've known her since before we were both in elected office. But it was about the fact that with, you know, three strong candidates running, that 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. Ms. Crockett, the 44-year-old Congresswoman first elected to office in 2022, quickly rising to national prominence, thanks to her bombastic style and nonstop social media presence, unloading a steady stream of insults and tirades at Republican foes from Congresswoman Marjorie Taylor Green to President Trump to Texas Governor Greg Abbott.

Here, a sampling. We are going to be in your face. We are going to be on your asses. We are going to make sure you understand what democracy looks. Like, this ain't it. Because 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, we know that. He is. If someone on this committee then starts talking about somebody's bleached blind, bad-built, butch body, that would not be engaging in personalities, correct? A what now? You not only are we going to punch back, but we're about to beat you down. Crockett, who went to the best private schools to be educated and came on the national scene sounding closer to Eliza Doolittle than Cardi B. Now, since becoming a congresswoman, is all about the street.

Crockett taking plenty of heat in return from those she's attacked in politics and embracing it in her campaign launch video posted yesterday. And this is not a joke. It actually is her launch ad. In it, the congresswoman stares off into the distance, blinking, slowly behind long, curly eyelashes while the following audio plays. How about this new one they have? Their new star, Crockett. How about her?

She's the new star of the Democrat Party, Jasmine Carkett. They're in big trouble. But you have this woman Crockett. She's a very low IQ person. I watched her speak the other day. She's definitely a low IQ person. Crockett.

Oh, man, oh man. She's a very low IQ person. Somebody said the other day, one of the leaders of the party. I said, you've got to be getting. Now they're going to rely on Crockett. Crocket's going to bring them back. Toward the end, Crockett turning dramatically to the camera, flashing a smile before the words, Crockett for U.S. Senate, appear on screen. An October poll from the University of Houston showing Crockett leading the pack in a four-way challenge, including Tala Rico, former Congressman Beto O'Rourke, and Colin Allred, the latter of whom

keep running for office and losing every time there's a race in Texas. Crockett with 31 percent, Tala Rico at 25, O'Rourke at 25, and Allred then at 13. O'Rourke has said he is unlikely to run for office in 2026, or let's face it ever again since he cannot win a race. Dems have their eyes on the seat held by Republican Senator John Cornyn, who is running again, but is facing his own set of primary challengers. Democrats have not won a statewide race in Texas for more than 30 years, despite spending millions of outside dollars on. challengers. Again, Beto O'Rourke in 2018 and Colin Allred in 2024, each losing their bids by three and eight points respectively to Senator Ted Cruz. Journalist Chris Saliza says if Crockett is the nominee, she's not likely to draw quite as many outside donors. If Jasmine Crockett winds

up as a Democratic nominee, I will tell you that political wisdom would suggest she's not going to win a general election. We may look back at this day and say, this is the day where that opportunity in Texas got a little less appealing. And if Crockett is the nominee, I don't know that National Democrats spend any money in Texas. Whereas I think if Talrico is a nominee against, say, Paxton, then I think they would spend money. So this could be a tough day for Senate Democrats' chances of retaking that majority. I think she is probably a slightly better than even odds chance at being the Democratic nominee. And I think she has a under 10% chance of winning the general election. The primary is set for March 3rd.

Coming up, Jimmy Kimmel's contract getting a one-year extension, but is anyone watching? And New York City mayor-elect Zora and Mamdani preparing for a big move. I've been talking a lot about River Bend Ranch because I love their steaks. Well, this holiday season express your love with a very special gift of premium steaks from River Bend Ranch. They have spectacular beef bundles that are wonderful gifts to friends and family. Their prime rib roast and holiday bundles are only available while supplies last, and they're going fast. For the last 35 years, River Bend Ranch has been creating an elite Angus herd by using ultrasound technology to identify genetically superior cattle with a focus on flavor

and tenderness. All River Bend Ranch cattle are born and raised in the USA. They never use growth hormones or antibiotics, and the beef is processed right at the ranch in their award-winning USDA-inspected processing facility. Avoid the costly middlemen because the beef is sent directly from Riverben Ranch to your home. This is not your average black Angus beef. Order from Riverben Ranch.com. Use the promo code Megan for 20 bucks off your first order, and let me know what you think. Riverben Ranch.com promo code Megan. Jimmy Kimmel, renewing his contract with ABC for one year, extending his contract through May of 27, according to Bloomberg News. That is officially what we call in the news business a fig leaf.

The news coming just months after Kimmel was briefly yanked off the air following vile remarks he made in the wake of Charlie Kirk's murder, trying to blame the killing on MAGA. FCC chair Brendan Carr at the time, reminding local station groups that they, are empowered to preempt programming not considered in the public good. Shortly thereafter, Nexstar, the largest owner of local TV stations in America, with more than 200 stations, reaching 220 million people announcing it would preempt Kimmel. Sinclair, another large affiliate owner following suit, ABC then deciding to temporarily pull the show. Kimmel's allies from Hollywood to D.C., then launching a public outcry campaign, calling the suspension and attack on free

speech, despite the fact that while the feds were clearly happy to see the preemptions, the decision came from private stakeholders and not the government. Ultimately, Kimmel's suspension lasting six days, two of which were weekend days, the host returning to the air in tearful remarks saying, quote, it was never my intention to make light of the murder of a young man. Absent from his comments, which largely focused on himself and blamed Donald Trump and others for taking his words out of context, which they didn't, was any apology whatsoever. Bloomberg reporting the deal was inked months ago, but went unannounced out of respect for Stephen Colbert, who in July announced his CBS late-night show is getting canceled in May.

You see, we respect Stephen Colbert. Charlie Kirk, we can dump on his grave before he's practically been laid to rest. Kimmel's ratings dropping like a stone in recent years. In 2015, Jimmy Kimmel Live averaging 2.4 million viewers. Prior to Kimmel's suspension, the show down to about 1.6 million. Kimmel scoring an extremely temporary one-night ratings bump on his first night back on TV after the brief suspension, which has since tapered back down into familiar territory, averaging 1.98 million viewers the week of November 23rd. In the coveted 25 to 54 demo, which is the most important number for advertisers and thus, or executives, Kimmel pulling a paltry average of 261,000 in 2025 compared to nearly four times that number, about a million viewers 10 years ago. The week of November 23rd, his demo was down to 245,000. For a broadcast network like ABC, with reach into virtually every single American household where it costs the consumer nothing, those numbers are dismal. Turns out not that many Americans want to be lectured to by a preening, smug, elitist millionaire

who can't stand half the country. New York City mayor-elect Zora and Mamdani, the Democrat Socialist who rails against wealth, privilege and the elite, announcing he and his wife are moving into a mansion, the New York City mayor's residence, Gracie Mansion, when he takes office in January. Mamdani, in a lengthy Instagram post,

justifying the move to his comrades, quote, We will miss much about our home in Astoria, cooking dinner side by side in our kitchen, sharing a sleepy elevator ride with our neighbors in the evening, hearing music and laughter vibrate through the what we get it. The decision came down to our family's safety and the importance of dedicating all of my focus on enacting the affordability agenda New Yorkers voted for. It is not a requirement for the mayor to live at Gracie Mansion, Michael Bloomberg most recently, opting instead to live in his home while in office.

Gracie Mansion is an Upper Eastside property spanning roughly 11,000 square feet and boasting five bedrooms and a ballroom. It sits in a park along the East River. It's a certain upgrade from the one-bedroom apartment Mamdani currently occupies with his wife in Astoria Queens. As a candidate, Mamdani often pointing to his modest $2,300 a month rent-stabilized apartment as a symbol of his everyday New Yorker persona. Former governor and mayoral candidate Andrew Cuomo using the apartment has an attack line, referencing Mamdani's privilege as the son of a movie director mother and a Columbia professor father, as well as his $142,000 a year salary as a state assemblyman.

One moment from an October debate. Mr. Mamdani, what is your monthly rent or mortgage? $2,300. Mr. Cuomo. He has a rent-stabilized apartment that a poor person is supposed to have. Mamdani said to be sworn in on January 1st, a source telling the New York Post, Momdani intends to keep the apartment while living in the main. Mansion. That'll do it for your AM update. I'm Megan Kelly. Join me back here for the

MK Show live on SiriusXMs, the Megan Kelly channel, 111 at New East, on YouTube.com slash Megan Kelly, and on all podcast platforms.