James Cameron Backs Paramount Skydance’s Bid for Warner Bros. Discovery

Oscar-winning director James Cameron has expressed support for Paramount Skydance’s attempt to acquire Warner Bros. Discovery, noting that he believes “Netflix would be a disaster” for the company’s future.

During an appearance on The Town podcast, Cameron argued that Netflix’s involvement would negatively impact the theater industry, which the streaming giant has been at odds with for years.

“I think Paramount is the best choice,” Cameron stated. “Netflix is going to be a disaster. Sorry, Ted, but hey. Sarandos has openly declared that theatrical movies are dead,” he added, quoting Sarandos’ own words.

According to recent reports, David Ellison’s Paramount Skydance is currently in a strong position to acquire Warner Bros. Discovery amid a competitive bidding situation that includes Comcast and Netflix. The increase in interest is reportedly fueled by CNN, which is seen as an asset in the acquisition.

As noted by the New York Post, Paramount Skydance’s strategy seems particularly strong because the Ellisons are considering a purchase of CNN, making the studio’s cable news sector more attractive.

“They see CNN, with all its flaws, as a potentially profitable business worth saving,” one source pointed out. Meanwhile, as per reports, former President Trump seems eager to “neutralize” CNN, given its critical coverage of him, by potentially shaping its direction under the Ellisons’ ownership.

A source mentioned, “In his view, billionaire Larry Ellison, a Trump supporter and Oracle co-founder, is the right fit to turn CNN around.” It’s thought that Trump wants the Ellisons to apply a similar approach to CNN as they have with CBS, focusing on reducing perceived bias in reporting.

Insider accounts suggest the Ellisons regard CNN as a viable business model due to its extensive network of reporters and correspondents worldwide. Despite current market issues, CNN reportedly still generates $500 million annually in profits.