Norm Eisen: Merger is a “major risk to Poland’s democratic resilience"

WASHINGTON, D.C.—On Friday, June 19, Democracy Defenders Fund sent a letter to the prime minister of Poland and four Polish regulatory authorities, urging coordinated scrutiny of the pending Paramount Skydance–Warner Bros. Discovery merger. If allowed to proceed, the deal would transfer ultimate control of Poland's largest independent private broadcaster, TVN S.A., to a U.S. conglomerate that will operate with over one-third of its equity owned by the sovereign wealth funds of Saudi Arabia, Qatar, and Abu Dhabi. None of those funds belong to the OECD or the European Economic Area. This proposed ownership structure poses a threat to Poland’s democracy, and DDF encourages Polish regulators to take this threat into account as they analyze the transaction.

DDF’s letter identifies four separate Polish and EU legal frameworks that the merger triggers, including a time-sensitive referral under Article 9 of the EU Merger Regulation, indirect acquisition of control over TVN, a protected strategic entity, financing under Poland’s foreign-investment regime, and indirect control of a licensed Polish broadcaster to non-EEA owners.

Currently, TVN represents one of Poland’s largest and most trusted news operations, reaching a wider audience than any rival broadcaster, radio station or newspaper. With next year’s parliamentary election, ensuring that TVN maintains its independence and credibility is a crucial democratic concern.

"A free and independent press is the load-bearing wall of any democracy,” said Amb. Norm Eisen (ret.), co-founder and executive chair of Democracy Defenders Fund. “This merger would transfer ultimate control of Poland's most trusted broadcaster to a U.S. conglomerate financed by foreign sovereign wealth funds with no stake in Poland's democratic future. This transaction is a major risk to Poland’s democratic resilience, and DDF encourages Poland's regulators to investigate this transaction closely while there is still time."

Poland must act within days. The European Commission formally received notice of the transaction in early June 2026, and the 15-working-day window for Poland to request a referral under Article 9 of the EU Merger Regulation expires in the second half of June. A referral would let Poland's own competition authority examine the deal's effects on distinct and crucial Polish markets—television advertising, Polish-language content, and channel distribution—that a Brussels-level review may overlook.

The submission follows DDF's comment to the United Kingdom's Competition and Markets Authority and reflects growing opposition to the merger across the United States and Europe.

Read the letter here.

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Democracy Defenders Fund brings together a nonpartisan team to work with national, state and local allies across the country to defend in real-time the foundations of our democracy.