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

00:00:00.000 In a world of customizations, nothing compares to the deep customization capabilities of the

00:00:04.680 TD Active Trader platform. Your dashboard, your domain. Build it in your name, because no one

00:00:10.180 trades like you. Live. Breathe. Trade. TD. Ready for you. Good morning, everyone. I'm Megan Kelly.

00:00:19.820 It's Tuesday, December 9th, 2025, and this is your AM Update. Our offer is $30 a share,

00:00:25.960 all cash, $41 billion in equity that's backstopped by the Ellison family. Paramount announcing a hostile

00:00:32.520 bid to purchase Warner Brothers Discovery just one day after Netflix announces a signed deal to do

00:00:39.020 the same. Turning Texas blue is what I want to talk to y'all about today. U.S. Congresswoman from Texas,

00:00:46.660 Jasmine Crockett, announces a run for U.S. Senate. Late night host Jimmy Kimmel's contract extended

00:00:52.500 for a year, months after the host was yanked off the air for a whopping six days. And New York City

00:01:00.520 Mayor-elect Zoran Mamdani announces he is prepping for his move to a New York City mansion. All that

00:01:07.160 and more coming up in just a moment on your AM Update. As President Trump is settling into his

00:01:16.140 new administration, one of the top Democrats in Congress aiming to undermine the Trump agenda

00:01:20.660 is Senator Dick Durbin. And according to our sponsor, the Electronic Payments Coalition,

00:01:26.240 Senator Durbin has a new scheme, a government takeover of your credit card. Today, Americans

00:01:31.820 have thousands of choices in credit cards, but they say Senator Durbin's plan will result in less

00:01:36.960 competition and less security. And that means more risk for your credit and identity. Learn more at

00:01:43.240 guardyourcard.com and consider telling your senators to stop Dick Durbin's government takeover of your

00:01:49.500 credit card before it's too late. Paramount Skydance on Monday launching a hostile takeover bid to

00:01:57.880 purchase Warner Brothers Discovery, taking its offer directly to shareholders just one day after

00:02:03.380 Netflix announced a signed deal to purchase the legacy studio. A hostile takeover is when a buyer

00:02:09.640 takes control of a target company without the approval or consent of the target company's board of

00:02:15.260 directors. Paramount offering shareholders an all-cash offer, valuing the company at about $108 billion as

00:02:23.540 opposed to Netflix-signed deal of $83 billion paid out in a mix of cash and stock. CEO of Paramount Skydance

00:02:32.080 David Ellison pitching his offer yesterday morning on CNBC. Our offer is $30 a share, all cash, $41 billion in

00:02:40.880 equity that's backstopped by the Ellison family and Redbird, $54 billion in debt with commitments from

00:02:46.640 Citi, Bank of America, and Apollo. We have faster regulatory certainty to close, and our deal is pro-consumer,

00:02:55.060 it's pro-creative talent, it's pro-competition, and we believe that when you actually, to further

00:03:01.140 contextualize, there are $30 in cash, or sorry, $30 a share is basically $17.6 billion in cash more

00:03:10.060 than the $23 in share that they signed up. And we believe when they see what is currently in our offer

00:03:15.860 that that's what they'll vote for. Paramount taking the position that Warner Brothers never quote

00:03:20.640 engaged meaningfully with its proposals throughout the high-stakes bidding war. Paramount's offer would

00:03:26.280 by all of Warner Brothers Discovery's assets, including its cable networks like CNN, TBS, and TNT.

00:03:33.780 Netflix's deal, by contrast, would acquire only the film and TV studios, including HBO and HBO Max,

00:03:41.680 with Warner Brothers spinning off its cable channels into a separate company. CNBC host David Faber with

00:03:48.240 more on how the upcoming process will play out. What this will have the effect of doing essentially

00:03:53.380 is making the shareholder vote on the Netflix transaction the key, where shareholders will

00:03:59.920 be making their voices heard conceivably, according to Paramount. And the fact that throughout in this

00:04:05.800 press release, they feel as though they were not given the attention they deserved and were not treated

00:04:11.980 on equal footing to Netflix. And hence, in bringing a tender offer of this type to shareholders,

00:04:20.060 they are going to share everything with those shareholders of Warner Brothers in the hopes,

00:04:25.800 of course, that they will put pressure on the company in some way and or at least indicate that

00:04:31.060 they're unwilling to vote in favor of the current transaction with Netflix. As these things go,

00:04:36.540 when you file a tender offer, you are then put the company you filed against in the position of having

00:04:42.180 to file a D9, which requires them to come out with all the reasons why they decided what they did.

00:04:50.860 And so we're going to get a lot more explication, let's say, around the process itself.

00:04:55.720 Any deal, regardless of whether it's Netflix or Paramount, will require regulatory approval from

00:05:01.700 the Trump administration. In a sign of Netflix's confidence its merger will be approved,

00:05:06.880 the streaming platform agreeing to pay Warner Brothers a $5.8 billion breakup fee if the deal

00:05:13.700 does not go through. Conversely, Warner Brothers must pay Netflix $2.8 billion if it pulls out of

00:05:20.180 the deal to go with someone else. Paramount arguing the Netflix deal faces steeper regulatory hurdles

00:05:26.100 since it would combine the number one streaming service, Netflix, with the number three service,

00:05:32.160 HBO Max. President Trump's Sunday at the Kennedy Center conceding,

00:05:36.500 Netflix may have a problem.

00:05:38.480 Should they be allowed to buy Warner Brothers? Should Netflix?

00:05:41.520 Well, that's the question. They have a very big market share. And when they have Warner Brothers,

00:05:46.120 you know, that share goes up a lot. So I don't know. That's going to be for some economists to

00:05:50.620 tell. And also, and I'll be involved in that decision too. But they have a very big market share.

00:05:56.320 There's no question about it. It could be a problem.

00:05:59.080 David Ellison's father, chief technology officer and co-founder of tech giant Oracle,

00:06:03.980 Larry Ellison, is also a strong Trump ally. Paramount expecting its offer could be approved

00:06:09.980 in one year, whereas the Netflix deal is anticipated to take 12 to 18 months. The junior Ellison appealing

00:06:17.060 to movie fans vowing to put 30 movies per year into theaters. The Netflix deal drawing industry

00:06:23.540 backlash from those worried about what a streaming giant's takeover of a legacy studio could mean

00:06:28.740 for traditional movie theaters. Netflix attempting to calm those fears, though not entirely successfully,

00:06:35.520 saying it, quote, expects to maintain Warner Brothers' current operations and build on its

00:06:41.660 strengths, including theatrical releases for films, but without any guaranteed number.

00:06:47.540 Netflix, with limited exceptions, does not release its movies theatrically.

00:06:51.580 Possibly complicating Paramount's bid to fund the deal, the company is backed by multiple

00:06:57.440 foreign sovereign wealth funds, including Saudi Arabia, Qatar, and Abu Dhabi, as well as President

00:07:03.180 Trump's son-in-law Jared Kushner's fund, Affinity Partners. Wait, so could Jared Kushner soon be

00:07:10.360 running CNN? Can you imagine? Ah, alas, each of those players agreeing that they will not take any

00:07:17.020 governance role in the company should their takeover bid be completed. U.S. Senator from

00:07:21.980 Maryland, Democrat Chris Van Hollen, attacking the deal in an ex-post, quote, more grift. The Warner

00:07:28.140 Brothers merger was already suspect, but now Trump's family is getting in on the act. This cannot stand.

00:07:34.980 President Trump asked yesterday at the White House about Paramount's bid.

00:07:38.380 Do you support the Paramount bid for Warner Brothers that came up this morning?

00:07:41.980 I don't know about it. You just talked about Netflix last night saying you have concerns about them.

00:07:46.940 I know the companies very well. I know what they're doing, but I have to see. I have to see what

00:07:50.780 percentage of market they have. We have to see the Netflix percentage of market, Paramount,

00:07:56.460 the percentage of market. I mean, none of them are particularly great friends of mine.

00:08:01.180 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.

00:08:06.140 Paramount is supported by Jared Kushner, Mr. President. Would that impact your decision?

00:08:10.860 If Paramount is, I don't know. I haven't, I've never spoken to him. He's really tried to

00:08:16.780 work on Gaza. His primary thing is Gaza.

00:08:20.940 The Warner Brothers board of directors responding to Paramount's bid,

00:08:24.300 telling shareholders it will evaluate the offer and release its decision

00:08:28.300 within 10 days. Paramount's offer expires on January 8th, 2026.

00:08:34.940 U.S. Congresswoman from Texas, Democrat Jasmine Crockett,

00:08:38.300 officially launching a run for Senate on Monday. Crockett now set to challenge Texas State

00:08:43.980 Representative James Tallarico in the primary. Her announcement coming after weeks of speculation

00:08:49.580 and just hours after former Congressman Colin Allred dropping out of the race. Allred confirming

00:08:54.860 yesterday on CNN his decision to exit the race was due to Crockett's decision to enter.

00:08:59.020 Jasmine Crockett is very openly considering running. Is that part of why you decided to

00:09:06.780 not run anymore?

00:09:07.580 Yeah, of course it is. And I think, you know, listen, Jasmine's a friend of mine and we've

00:09:12.140 served together. I've known her since before we were both, you know, in elected office.

00:09:16.620 But it was about the fact that with, you know, three strong candidates running that we would certainly

00:09:22.060 have a runoff. And to me, going through a bruising primary was not in the best interest of the state

00:09:28.380 or the party. Ms. Crockett, the 44-year-old congresswoman first elected to office in 2022, 0.99

00:09:33.980 quickly rising to national prominence thanks to her bombastic style and nonstop social media presence,

00:09:40.540 unloading a steady stream of insults and tirades at Republican foes from Congresswoman Marjorie Taylor 0.96

00:09:46.140 Greene to President Trump to Texas Governor Greg Abbott. Here, a sampling.

00:09:50.940 We are going to be in your face. We are going to be on your asses. We are going to make sure 1.00

00:09:56.940 you understand what democracy looks like. This ain't it.

00:10:01.100 Because we in these hot ass Texas streets, honey. Y'all know we got Governor Hot Wheels down there. 1.00

00:10:06.780 Come on now. Donald Trump is a piece of shit. Okay, we know that. He is. 1.00

00:10:12.060 If someone on this committee then starts talking about somebody's bleach-blonde,

00:10:17.500 bad-built butch body, that would not be engaging in personalities, correct?

00:10:21.580 A what now? 0.99

00:10:22.700 Not only are we going to punch back, but we about to beat you down.

00:10:26.300 Crockett, who went to the best private schools to be educated and came on the national scene

00:10:31.900 sounding closer to Eliza Doolittle than Cardi B, now, since becoming a congresswoman, is all about

00:10:38.540 the street. Crockett taking plenty of heat in return from those she's attacked in politics and 1.00

00:10:44.700 embracing it in her campaign launch video posted yesterday. And this is not a joke. It actually is

00:10:51.420 her launch ad. In it, the congresswoman stares off into the distance, blinking slowly behind long,

00:10:58.060 curly eyelashes, while the following audio plays.

00:11:01.580 How about this new one they have? Their new star, Crockett. How about her?

00:11:06.060 She's the new star of the Democrat Party, Jasmine Crockett. They're in big trouble.

00:11:11.180 But you have this woman, Crockett. She's a very low IQ person. 1.00

00:11:14.940 I watched her speak the other day. She's definitely a low IQ person. 0.94

00:11:18.700 Crockett. Oh, man. Oh, man. She's a very low IQ person. 1.00

00:11:24.860 Somebody said the other day, she's one of the leaders of the party. I said, you got to be kidding. 0.81

00:11:29.500 Now they're going to rely on Crockett. Crockett's going to bring them back.

00:11:33.100 Toward the end, Crockett turning dramatically to the camera, flashing a smile before the words

00:11:37.500 Crockett for U.S. Senate appear on screen. An October poll from the University of Houston

00:11:43.740 showing Crockett leading the pack in a four-way challenge, including Tallarico, former Congressman

00:11:49.020 Beto O'Rourke, and Colin Allred, the latter of whom keep running for office and losing every time

00:11:55.100 there's a race in Texas. Crockett with 31%, Tallarico at 25%, O'Rourke at 25%, and Allred then at 13%.

00:12:02.700 O'Rourke has said he is unlikely to run for office in 2026, or let's face it, ever again since he cannot

00:12:09.340 win a race. Dems have their eyes on the seat held by Republican Senator John Cornyn, who is running

00:12:15.980 again, but is facing his own set of primary challengers. Democrats have not won a statewide

00:12:21.420 race in Texas for more than 30 years, despite spending millions of outside dollars on challengers.

00:12:27.260 Again, Beto O'Rourke in 2018 and Colin Allred in 2024, each losing their bids by three and eight

00:12:34.920 points respectively to Senator Ted Cruz. Journalist Chris Saliza says if Crockett is the nominee,

00:12:41.480 she's not likely to draw quite as many outside donors.

00:12:45.320 If Jasmine Crockett winds up as a Democratic nominee, I will tell you that political wisdom

00:12:49.640 would suggest she's not going to win a general election. We may look back at this day and say,

00:12:54.180 this is the day where that opportunity in Texas got a little less appealing. And if Crockett is the

00:12:59.460 nominee, I don't know that national Democrats spend any money in Texas. Whereas I think if

00:13:04.940 Tal Rico is a nominee against say Paxton, then I think they would spend money. So this could be a

00:13:09.880 tough day for Senate Democrats chances of retaking that majority. I think she is probably a slightly

00:13:15.720 better than even odds chance at being the Democratic nominee. And I think she has a under 10% chance of 1.00

00:13:22.180 winning the general election. The primary is set for March 3rd. Coming up, Jimmy Kimmel's contract

00:13:29.920 getting a one-year extension. But is anyone watching? And New York City Mayor-elect Zoran Mamdani

00:13:37.220 preparing for a big move. I've been talking a lot about Riverbend Ranch because I love their steaks.

00:13:46.820 Well, this holiday season, express your love with a very special gift of premium steaks from Riverbend

00:13:52.940 Ranch. They have spectacular beef bundles that are wonderful gifts to friends and family.

00:13:57.940 Their prime rib roast and holiday bundles are only available while supplies last,

00:14:02.280 and they're going fast. For the last 35 years, Riverbend Ranch has been creating an elite Angus

00:14:07.800 herd by using ultrasound technology to identify genetically superior cattle with a focus on flavor

00:14:13.920 and tenderness. All Riverbend Ranch cattle are born and raised in the USA. They never use growth

00:14:20.000 hormones or antibiotics, and the beef is processed right at the ranch in their award-winning USDA-inspected

00:14:25.880 processing facility. Avoid the costly middlemen because the beef is sent directly from Riverbend

00:14:32.120 Ranch to your home. This is not your average black Angus beef. Order from riverbendranch.com,

00:14:38.220 use the promo code MEGAN for 20 bucks off your first order, and let me know what you think.

00:14:41.980 Riverbendranch.com, promo code MEGAN.

00:14:46.580 Jimmy Kimmel renewing his contract with ABC for one year, extending his contract through May of

00:14:53.020 2027, according to Bloomberg News. That is officially what we call in the news business

00:14:58.000 a fig leaf. The news coming just months after Kimmel was briefly yanked off the air following

00:15:03.460 vile remarks he made in the wake of Charlie Kirk's murder, trying to blame the killing on MAGA.

00:15:09.560 FCC Chair Brendan Carr at the time, reminding local station groups that they are empowered to

00:15:15.880 preempt programming not considered in the public good. Shortly thereafter, Nexstar, the largest owner

00:15:21.800 of local TV stations in America, with more than 200 stations, reaching 220 million people,

00:15:27.760 announcing it would preempt Kimmel. Sinclair, another large affiliate owner following suit.

00:15:33.320 ABC then deciding to temporarily pull the show.

00:15:36.360 Kimmel's allies from Hollywood to D.C. then launching a public outcry campaign,

00:15:42.040 calling the suspension an attack on free speech, despite the fact that while the feds were clearly

00:15:46.740 happy to see the preemptions, the decision came from private stakeholders and not the government.

00:15:52.600 Ultimately, Kimmel's suspension lasting six days, two of which were weekend days.

00:15:58.580 The host returning to the air in tearful remarks, saying, quote,

00:16:02.580 it was never my intention to make light of the murder of a young man.

00:16:06.460 Absent from his comments, which largely focused on himself and blamed Donald Trump and others for

00:16:12.540 taking his words out of context, which they didn't, was any apology whatsoever.

00:16:19.000 Bloomberg reporting the deal was inked months ago, but went unannounced out of respect for Stephen

00:16:24.260 Colbert, who in July announced his CBS late night show is getting canceled in May.

00:16:29.800 You see, we respect Stephen Colbert.

00:16:33.240 Charlie Kirk, we can dump on his grave before he's practically been laid to rest.

00:16:39.000 Kimmel's ratings dropping like a stone in recent years.

00:16:42.260 In 2015, Jimmy Kimmel Live averaging 2.4 million viewers.

00:16:46.200 Prior to Kimmel's suspension, the show down to about 1.6 million.

00:16:50.680 Kimmel scoring an extremely temporary one-night ratings bump on his first night back on TV

00:16:56.480 after the brief suspension, which has since tapered back down into familiar territory,

00:17:01.280 averaging 1.98 million viewers the week of November 23rd.

00:17:05.480 In the coveted 25 to 54 demo, which is the most important number for advertisers and thus for

00:17:12.020 executives, Kimmel pulling a paltry average of 261,000 in 2025, compared to nearly four times

00:17:20.840 that number, about a million viewers 10 years ago. The week of November 23rd, his demo was down to

00:17:27.020 245,000. For a broadcast network like ABC with reach into virtually every single American household

00:17:34.040 where it costs the consumer nothing, those numbers are dismal.

00:17:38.000 Turns out not that many Americans want to be lectured to by a preening, 0.89

00:17:42.500 smug, elitist millionaire who can't stand half the country.

00:17:47.700 New York City Mayor-elect Zoram Mamdani, the Democrat socialist who rails against wealth, 0.92

00:17:53.160 privilege, and the elite, announcing he and his wife are moving into a mansion,

00:17:57.880 the New York City Mayor's residence, Gracie Mansion, when he takes office in January.

00:18:02.740 Mamdani, in a lengthy Instagram post justifying the move to his comrades, quote,

00:18:07.040 We will miss much about our home in Astoria, cooking dinner side by side in our kitchen,

00:18:12.820 sharing a sleepy elevator ride with our neighbors in the evening,

00:18:16.320 hearing music and laughter vibrate through the what we get it.

00:18:19.660 The decision came down to our family's safety and the importance of dedicating all of my focus

00:18:24.960 on enacting the affordability agenda New Yorkers voted for. It is not a requirement for the mayor to

00:18:30.960 live at Gracie Mansion, Michael Bloomberg most recently opting instead to live in his home while in office,

00:18:36.620 Gracie Mansion is an Upper East Side property spanning roughly 11,000 square feet and boasting five

00:18:42.460 bedrooms and a ballroom. It sits in a park along the East River.

00:18:46.940 It's a certain upgrade from the one-bedroom apartment Mamdani currently occupies with his wife in Astoria,

00:18:52.200 Queens. As a candidate, Mamdani often pointing to his modest $2,300-a-month rent-stabilized

00:18:58.360 apartment as a symbol of his everyday New Yorker persona.

00:19:01.800 Former governor and mayoral candidate Andrew Cuomo using the apartment as an attack line,

00:19:07.280 referencing Mamdani's privilege as the son of a movie director mother and a Columbia professor

00:19:12.240 father, as well as his $142,000-a-year salary as a state assemblyman. One moment from an October

00:19:19.980 debate.

00:19:20.460 Mr. Mamdani, what is your monthly rent or mortgage?

00:19:23.120 $2,300.

00:19:24.320 Mr. Cuomo?

00:19:25.500 He has a rent-stabilized apartment that a poor person is supposed to have.

00:19:28.740 Mamdani set to be sworn in on January 1st. A source telling the New York Post Mamdani intends

00:19:34.500 to keep the apartment while living in the mansion. That'll do it for your AM update. I'm

00:19:41.000 Megyn Kelly. Join me back here for the MK Show live on SiriusXM's The Megyn Kelly Channel,

00:19:45.260 111 at noon east, on youtube.com slash Megyn Kelly, and on all podcast platforms.

00:19:50.380 Ford was built on the belief that the world doesn't get to decide what you're capable of.

00:20:00.920 You do. So, ask yourself, can you or can't you? Can you load up a Ford F-150 and build your dream

00:20:08.600 with sweat and steel? Can you chase thrills and conquer curbs in a Mustang? Can you take a Bronco to

00:20:15.320 where the map ends and adventure begins? Whether you think you can or think you can't,

00:20:21.360 you're right. Ready, set, Ford.

The Megyn Kelly Show - December 09, 2025

Jasmine Crockett Enters Senate Race, Paramount's Hostile Takeover, Mamdani's Mansion： AM Update 12⧸9

Episode Stats

Summary

Transcript