Paramount Skydance CEO David Ellison is now reportedly signaling major changes could be on the horizon for CNN, as he works to upend a newly accepted deal that would hand Warner Bros. Discovery over to Netflix. Ellison has reportedly told officials in the Trump administration that, should he succeed in acquiring Warner Bros. Discovery through a hostile takeover, he intends to implement sweeping reforms at the long-embattled cable news network.
The aggressive move comes after Warner Bros. Discovery agreed to sell to Netflix, prompting Paramount to counter with its own direct appeal to shareholders. Ellison argues that his company’s bid offers clearer value, faster completion, and none of the uncertainty he says is baked into the Netflix proposal.
“WBD shareholders deserve an opportunity to consider our superior all-cash offer for their shares in the entire company,” Ellison said in a statement outlining his opposition to the Netflix deal. Emphasizing the certainty of cash over what he called a “mix of cash and stock,” Ellison cast the competing offer as one that would expose shareholders to an unstable future, especially in the network’s linear cable business. For that reason, he said Paramount is “taking our offer directly to shareholders to give them the opportunity to act in their own best interests.”
The pushback from the Ellison camp has already captured Washington’s attention. According to the Wall Street Journal, David Ellison’s father—Oracle co-founder Larry Ellison, a well-known Trump ally—personally called President Donald Trump after news broke of the Netflix agreement. His argument: the transaction would weaken competition in the market. The outreach underscores the political and economic stakes surrounding the fate of Warner Bros. Discovery, a major player in American media.
But perhaps the most striking revelation from the Journal’s reporting involves CNN, a network frequently criticized by conservatives and singled out repeatedly by President Trump. During a recent visit to Washington, David Ellison reportedly assured Trump administration officials that a Paramount takeover would bring serious changes to CNN. For an administration that has long viewed the network as hostile ground, the possibility of new leadership—even hypothetically—has not gone unnoticed.
According to the Journal, Trump has privately expressed that he wants new ownership of CNN and changes to the network’s programming. His public criticisms have been even more direct. Earlier this year, in a blunt remark delivered from the White House lawn, he referred to the network as “scum,” highlighting the deep strain between the cable outlet and the president who has repeatedly accused it of biased coverage.
Ellison’s comments, paired with the president’s ongoing frustration with CNN, set the stage for a high-stakes media battle. At its core is not only the future of Warner Bros. Discovery but also the direction of one of America’s most influential newsrooms. If Paramount succeeds in its hostile bid, the leadership and editorial orientation of CNN—long a point of contention for conservatives—could be headed for a dramatic shake-up.
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