CNN acquired by MAGA-aligned ally
A prominent ally of the MAGA political movement has acquired CNN, a move expected to cause a significant shift in the American media landscape. The deal reportedly also involves major changes, described as a "gutting," at CBS. The acquisition has sparked a backlash among press freedom advocates concerned about future editorial independence at the news network.
The winning bid for CNN's parent company, Warner Bros. Discovery, came from Paramount Skydance, led by David Ellison. His father is Oracle co-founder Larry Ellison, a prominent billionaire and ally of the MAGA movement. The deal followed a competitive bidding war with Netflix, which ultimately withdrew its offer. Paramount's successful offer was valued at over $110 billion. The acquisition is for all of Warner Bros. Discovery's assets, including the film studio, HBO, and linear networks like TNT and TBS, in addition to CNN. This contrasts with Netflix's bid, which was only for the studio and streaming services. Concerns about the network's future editorial direction are linked to David Ellison's recent actions at CBS News, which is also owned by Paramount. Since Ellison's takeover, CBS News has seen significant layoffs, with some characterizing the cuts to units like the Race and Culture unit as a "gutting." Additionally, conservative-leaning editor Bari Weiss was appointed as editor-in-chief at CBS News. Press freedom organizations have been vocal in their opposition to the deal. The Freedom of the Press Foundation's chief of advocacy, Seth Stern, warned that Ellison has a history of capitulating to political pressure. Craig Aaron, co-CEO of Free Press, called the potential for Paramount to control both CBS and CNN "unthinkable," stating the Ellisons have already promised "sweeping changes" at CNN.
