CNN Insiders Concerned Over Paramount Skydance Acquisition
Employees at CNN are expressing worries that Paramount Skydance’s completion of its acquisition of Warner Bros. Discovery could spell trouble for the network, especially after Netflix decided to withdraw its bid for WBD.
CNN anchor Jake Tapper raised concerns about Paramount President David Ellison’s close ties to former President Donald Trump, suggesting this might influence CNN, which is under Warner Bros.’ ownership. Tapper emphasized on air that this situation “impacts everyone watching in the studio right now.”
Trump and other conservatives have long criticized CNN for perceived bias. Insiders are anxious that Ellison, known for appointing Bari Weiss to address bias at CBS News, may chase similar changes at CNN, prompting fears about the network’s direction.
Notably, Ellison’s father, Larry Ellison, a billionaire co-founder of Oracle, has publicly discussed the layoffs affecting some CNN staff. Previously, Trump had indicated he wanted Netflix to sell CNN if their acquisition succeeded.
The overall sentiment within CNN has become quite tense, as a staff member expressed to The Wrap that “this could be the end of CNN,” while another added, “What will we sign on to? What will happen to CNN?”
Despite the turmoil, CNN CEO Mark Thompson urged caution, advising that it’s too early to jump to any conclusions about the network’s fate, as circumstances remain uncertain.
Recently, Netflix CEO Ted Sarandos confirmed the streaming service’s decision to retract its previously strong bid for Warner Bros. Discovery. Netflix stated that while they believed their negotiated transaction could enhance shareholder value with clear regulatory approval, the financial attraction faded when weighed against Paramount’s bid.
This shift positions Paramount Skydance as the leading bidder for WBD. Ellison expressed gratitude to the WBD board for approving what he described as a “superior value” proposal, emphasizing benefits for shareholders and a quicker path to completion.
