Paramount CEO David Ellison has reportedly pledged to implement major changes at CNN should his company succeed in acquiring Warner Bros Discovery, outbidding Netflix’s $72 billion proposal with a $77.9 billion cash bid. The counteroffer, backed by billionaire Larry Ellison, was announced on December 8, 2025. Ellison told Trump administration officials he would push for a “significant overhaul” of CNN—a network the President frequently labels “fake news”—with potential consequences including the firing of hosts such as Erin Burnett and Brianna Keilar.
President Trump himself responded to the deal with the remark: “None of them are particularly great friends of mine.” Trump has previously criticized CNN and The New York Times for misreporting U.S. strikes in Iran earlier this year, branding the coverage “fake news.” Meanwhile, CNN has admitted to underreporting certain aspects of former President Joe Biden’s health.
Netflix co-CEO Ted Sarandos has been engaging with White House officials but did not meet Trump during his recent visit. Lawmakers on both sides of the aisle have raised concerns about the merger, with Senator Elizabeth Warren (D-MA) and Representative Pramila Jayapal (D-WA) warning that consolidation could limit consumer choice and competition, while Republicans highlighted antitrust risks.
Analysts note the proposed deal could reshape television news, streaming, and entertainment content, profoundly affecting how Americans access information. Paramount’s all-cash bid represents one of the largest in recent media history, signaling high stakes for both companies and the broader landscape. The Trump administration has not publicly aligned with either bidder but is monitoring potential antitrust implications.
