Employees at CNN are expressing serious concerns about the network’s future after Paramount secured a deal to acquire Warner Bros. Discovery, as reported by CNN’s senior media analyst Brian Stelter on Friday.
Netflix withdrew its bid for the conglomerate that includes CNN after Paramount raised its offer to $31 per share, which Warner Bros. deemed superior to Netflix’s offer of $27.75 per share. Stelter has raised questions about whether David Ellison, CEO of Paramount and son of Oracle’s founder, will honor CNN’s editorial independence, especially given the network’s history with former President Donald Trump.
“Right now, nothing is changing immediately. The deal won’t finalize for several months, and there could be legal hurdles to navigate,” Stelter told Wolf Blitzer on “The Situation Room.” He also mentioned that Paramount executives have expressed admiration for CNN’s coverage and global impact.
Stelter further noted that discussions are underway about potentially merging CNN’s news division with CBS News. Though such mergers have been considered before, practical challenges have always prevented them from coming to fruition.
In another context, Larry Ellison, who has been involved with Trump politically, is expected to continue his engagement with the former president into 2025. He is slated to join other tech CEOs at the White House for a significant announcement regarding investments in artificial intelligence infrastructure.
More broadly, concerns about editorial independence linger among CNN staff and viewers alike. Stelter highlighted that Trump’s long-standing criticisms and calls to sell CNN have intensified skepticism about the network’s future under Paramount’s ownership.
Recently, controversy surrounded CBS News, particularly with left-wing activists reacting negatively to a postponed segment about a Salvadoran prison, which they believed was an attempt to placate Trump. Though the segment eventually aired, the network also updated its style guide to include certain phrases related to gender discussions, drawing more scrutiny.
Ellison has made comments in the past about wanting to bolster the news business in the U.S., citing a need for balanced reporting. This aligns somewhat with CNN’s objectives, which raises questions about whether the network could navigate its way through the impending changes successfully.
CNN currently ranks third in viewership ratings, with reports indicating an average of 807,000 viewers during prime time, significantly trailing behind Fox News and MSNOW. Historically, CNN’s revenue has hovered between $1.8 billion and $1.9 billion but is projected to drop to around $600 million before accounting for expenses, according to reports.
