Paramount Skydance, led by David Ellison, appears to have a strong chance in the bidding war for Warner Bros. Discovery, thanks to a surprising edge, according to reports.
The competition for Warner Bros. Discovery heated up last week, with Paramount Skydance, Comcast, and Netflix stepping into the fray. As noted, Paramount Skydance is presenting a robust proposal, particularly as Larry Ellison and CEO David Ellison are contemplating acquiring CNN, aiming to save the studio’s cable news division.
“They see CNN, flaws and all, as a profitable enterprise worth preserving,” the report suggests. “In the meantime, President Trump is eager to ‘neutralize’ CNN, which has often clashed with him at the White House and Air Force One,” remarked a broadcasting executive.
“From his perspective, billionaire Larry Ellison, who has backed Trump and co-founded Oracle, represents an ideal candidate to revitalize CNN,” the executive continued. “Specifically, Trump hopes the Ellisons can replicate their work at CBS—which involved hiring center-right columnist Bari Weiss tasked with reducing leftist biases in news coverage.”
If Paramount Skydance emerges victorious in this bidding contest, it’s possible Bari Weiss could oversee CNN’s editorial adjustments.
“The Ellisons will receive a straightforward six-month grace period for approval,” stated a communications industry attorney.
“As for Brian Roberts at Comcast, it’s a lengthy process, potentially taking two years. Netflix faces similar challenges. The Warner board could ultimately decide it’s not worth the wait,” the lawyer elaborated.
Reports indicate that the Ellisons view CNN as a sustainable business model, thanks to its extensive network of global correspondents. Even amidst current market challenges, CNN continues to generate around $500 million in annual profits.
