Trump Calls for CNN Sale Amid Warner Bros. Discovery Merger Talks
President Donald Trump recently described certain left-leaning news outlets, including CNN, as “essential.” This statement comes as Warner Bros. Discovery is exploring a potential merger with Netflix, which would involve selling off its current assets, including CNN.
Trump stated, “It’s imperative that we sell CNN… I think we should sell CNN because the people running it are either corrupt or incompetent.” He went on to assert that CNN‘s current leadership should not continue in their roles.
Addressing possible outcomes, Trump mentioned ongoing changes at CNN following a visit from Paramount CEO David Ellison to Washington, where he indicated significant shifts might occur.
Trump added, “I’ll probably be involved in the decision. It depends. There are good companies bidding.”
In a competitive bidding scenario, Paramount previously lost to Netflix in acquiring Warner Bros. Discovery for around $83 billion. However, Paramount has since made a counteroffer that could change the dynamics, leveraging funds from Jared Kushner’s investment firm, Affinity Partners, and financial backing from Middle Eastern sovereign wealth funds.
A representative from Netflix clarified that their interest lies mainly in Warner Bros. Discovery’s studio and streaming assets, emphasizing they are not looking to acquire CNN.
Concerns arose for Trump regarding potential antitrust issues with the Netflix acquisition, fearing it might boost their already dominant position in the streaming market. In response, Paramount offered $30 per share in cash to WBD shareholders, positioning their proposal as a more favorable option.
“None of them are particularly great friends. I just want to do the right thing,” Trump remarked.
As federal regulators mull over the Netflix deal, it appears that the company could spin off its assets, resulting in the formation of a distinct public entity.
This week, Trump faced questions concerning a video released by the Department of the Army, detailing a second attack on a suspected drug-trafficking boat from September.
“I’m sure you are. You know you work for the Democratic Party,” Trump responded to a CNN reporter, claiming, “You’re basically a wing of the Democratic Party.”
Previously, Trump filed a defamation lawsuit against CNN in 2022 over the network’s characterization of his election fraud claims, referring to them as the “big lie.” The case was dismissed by U.S. District Judge Raag Singhal in July 2023, ruling that CNN‘s statement fell under the protection of the First Amendment and was considered an opinion rather than a statement of fact.
