CNN’s Ownership Future in Question Amid Bidding War
CNN is facing yet another potential change in ownership, but the ultimate outcome remains uncertain. In October, the parent company, Warner Bros. Discovery, announced plans to sell CNN while also splitting into two separate entities: one for its studio and HBO operations and another for its cable networks.
Initially, it seemed that David Ellison, who owns Paramount, was leading the bidding process. However, last week, Netflix participated in a bidding competition but later withdrew with an offer estimated around $83 billion. Meanwhile, Paramount has launched a $108 billion hostile takeover bid to acquire all of Warner Bros. Discovery, including CNN.
One staff member from CNN expressed skepticism about Ellison, saying, “I think there’s a very small number of troops who want Paramount… but most don’t.” This sentiment reflects a broader concern among CNN employees about what Ellison’s ownership might mean for the future of the network.
The atmosphere inside CNN has noticeably shifted recently. One staffer pointed out that many fear Ellison’s potential meddling, remarking, “I think most people don’t like him because they’re afraid of his interference.” Another described the newsroom climate as “tough,” underscoring the unease regarding prospective changes under Ellison.
In August, Ellison completed an $8 billion merger with Skydance Media, which had its share of political controversy, particularly concerning President Donald Trump’s claims against the company related to CBS News. Accusations of political influence linger, especially among liberal critics who argue that Paramount facilitated the merger to gain favor with Trump.
Staff members have been vocal about their anxiety. They worry that the editorial changes at CBS News under Ellison and his new editor-in-chief, Bari Weiss, could create similar upheaval at CNN, particularly if the two networks were to merge operations. “They like editorial independence,” one employee remarked, adding that the upheaval at CBS suggests that such independence might be jeopardized.
Ellison has largely avoided direct questions about uniting the reporting operations of CNN and CBS in recent interviews, choosing instead to emphasize a desire to focus on a new “business of trust” and “truth” aimed at middle-class Americans. This, however, has done little to ease fears among CNN staff, some of whom believe that a shift toward centrist reporting is more about appeasing political powers than serving journalistic integrity.
Trump has maintained a hands-off approach in the bidding war, even while expressing appreciation for Netflix. He refrained from endorsing Paramount’s bid, despite connections through his son-in-law, Jared Kushner, who’s involved in financing the proposal.
In light of the uncertainty, differing views exist among CNN employees. While some are genuinely alarmed at the prospect of Ellison’s leadership, others remain cautiously optimistic. “I hope we’ll be pleasantly surprised,” said one staff member, acknowledging Weiss’s thoughtful approach.
One staffer suggested it might be better for Paramount to acquire the network than for Netflix to gain control and potentially dismantle it in a private equity manner. Regardless, the ongoing uncertainty has deepened anxiety within the CNN newsroom. As one staff member put it, “Most people have no idea what’s going to happen… uncertainty is the worst of all.”
Representatives for both CNN and Warner Bros. Discovery have not yet commented on the situation, and Paramount has also chosen not to make a statement.
