CNN Reportedly Acquired by MAGA Ally
A high-profile supporter of the "Make America Great Again" movement has reportedly acquired CNN, sparking intense debate over media independence and consolidation. The new ownership is also said to be "gutting CBS," suggesting potential layoffs or restructuring at that network. The move has raised concerns across the journalism industry about the potential for compromised editorial independence at major news outlets.
The acquisition was finalized after Paramount Skydance, led by CEO David Ellison, won a bidding war against Netflix, securing Warner Bros. Discovery for approximately $108 billion. Paramount's winning offer was $31 per share and included covering the $2.8 billion breakup fee Warner Bros. owed to Netflix. David Ellison is the son of Oracle co-founder and billionaire Larry Ellison, a prominent ally and fundraiser for Donald Trump. The elder Ellison has had multiple private meetings with Trump and participated in a call to discuss strategies for challenging the 2020 election results. The deal follows significant changes at CBS News, also owned by Paramount Skydance. These include the appointment of former conservative opinion writer Bari Weiss as editor-in-chief. Weiss has stated her goal is to move away from "commodity" news and focus on unique, personality-driven journalism. Under the new leadership, CBS News has seen substantial layoffs, with roughly 100 staffers cut. The network's Race and Culture unit was disbanded, its Johannesburg bureau was closed, and all eight on-air personalities laid off in one round of cuts were women. Further layoffs impacting up to 15% of the news division's workforce are reportedly being considered. The leadership change has sparked internal dissent. Veteran correspondent Anderson Cooper left "60 Minutes" after nearly two decades, and other long-time correspondents are also reportedly expected to depart. Weiss controversially ordered a "60 Minutes" report to be held because it lacked comment from the Trump administration, a move that correspondent Sharyn Alfonsi called "a political one." Prior to its merger with Skydance, Paramount settled a lawsuit from Donald Trump for $16 million. The lawsuit alleged an interview with then-Vice President Kamala Harris on "60 Minutes" was deceptively edited. Critics viewed the settlement as an effort to ensure the Trump administration would approve the merger.
