Paramount deal for CNN and Warner Bros. draws concerns about news independence
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Should Paramount Skydance prevail in its $111-billion takeover of Warner Bros.Discovery, the Larry Ellison family would control two historic Hollywood film studios, dozens of cable channels, HBO and two legendary newsrooms, CBS News and CNN.
Concerns about the potential loss of more Hollywood jobs, and questions about newsroom independence, dominated a hearing Friday to address Los Angeles’ crisis of shrinking film and TV production jobs.Paramount wants to wrap up its Warner merger by September — a rapid timetable.The takeover deal, which was struck last month after Netflix bowed out, would put HBO and CNN under the control of Larry Ellison and his son David, the chairman of Paramount, which includes CBS.
Both Ellisons maintain friendly relations with President Trump.Those bonds, along with challenges to legacy media and changes at CBS News in recent months, sparked handwringing during the hearing called by Sen.
Adam Schiff (D-Burbank) and Rep.Laura Friedman (D-Glendale).
“The questions surrounding this merger go beyond jobs, contracts and consumers,” Schiff said.“They also go to editorial independence of two of America’s most significant news organizations, CNN and CBS News.” Hollywood Inc.
Warner’s HBO Max and Discovery+ streaming division notched growth — but not nearly enough to keep pace with the continued contraction of its traditional cable channels.Trump has long agitated for changes at CNN, and members of his cabinet, including War Secretary Pete Hegseth, have openly cheered for an Ellison takeover of CNN.To pave the way for the Ellisons’ purchase of Paramount, the company paid $16 million to Trump last summer to settle his lawsuit over edits to a “60 Minutes” interview with Kamala Harris in October 2024.
Most 1st Amendment experts had deemed Trump’s suit “frivolous.” Since the Ellisons took the helm, there has been a change in directio...