Tom Steyer, a hedge fund billionaire and 2020 presidential candidate, is considered a serious contender to replace Gavin Newsom in California's next governor. Speaking at a roundtable with labor leaders and industry advocates, Steyer criticised the "corrupt" Trump & WBD-Paramount merger and suggested policies protecting jobs, fostering independent media and creators. He also proposed tax incentives, AI guardrails, and more. Steyer's plan includes stopping "megamergers like Warner Bros.-Paramount" like this, which benefits executives and shareholders at the expense of working people. He argued that antitrust review could be done in California to block these deals based on state law.