Press freedom groups challenge Larry Ellison's reported promise to fire CNN anchors
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Two press freedom groups that own shares in Paramount Skydance are demanding to see the company’s books and internal documents, citing allegations that the company’s leaders may have promised favors to the White House to win approval for Paramount’s deal to acquire Warner Bros.Discovery.The letter, sent Thursday to Paramount Chief Legal Officer Makan Delrahim, says that media reports alleging that Paramount owner David Ellison and others promised favors to the Trump administration “create credible concern that Paramount leadership has offered, solicited, or effectuated a corrupt exchange,” which the groups argue would “constitute a breach of fiduciary duties” and open the company up to a “range of potential civil and criminal penalties.” Hollywood Inc.
Job cuts and pressure to placate Trump loom over major changes in store for two TV news organizations that will be combined under Paramount’s acquisition of Warner Bros.Discovery.The letter cites Delaware law that allows stockholders to inspect the company’s books and records “for any proper purpose.”Paramount declined to comment on the letter.Among the issues raised in the letter are promises reportedly made by David Ellison and his father, Oracle billionaire Larry Ellison, that they would make “sweeping” changes at the news network CNN, which is owned by Warner Bros.
Discovery.The Ellison family acquired Paramount, which includes CBS and the storied Melrose Avenue film studio, last summer.The letter cites changes implemented in CBS since their acquisition, including a decision to end late-night television host Stephen Colbert’s show days after he characterized a settlement Paramount reached with Trump as a “big fat bribe.” Colbert was notified of his cancellation just before Ellison’s Skydance Media took over the company.
Under Ellison’s ownership, the letter says, numerous high-profile...