Overview
- During a recent Washington visit, David Ellison told White House officials he would make sweeping changes at CNN if his Paramount-led offer succeeds, the Wall Street Journal reported.
- Paramount has launched a $108 billion hostile bid for Warner Bros. Discovery following the Netflix–Warner agreement that would separate CNN into a standalone company.
- Ellison has publicly outlined a plan to combine CNN with CBS News to build what he calls a scaled, trust-focused news service, saying he has had positive conversations with President Trump about the concept.
- Larry Ellison is financing much of the offer, and reporting says he previously discussed with White House contacts removing certain CNN hosts, while the bid’s backers include Jared Kushner and Middle Eastern sovereign wealth funds.
- Trump criticized 60 Minutes this week and told reporters he would look at companies’ market share before deciding how involved he would be in any approval of a Warner Bros. transaction.