Larry Ellison, the chairman of Paramount, is accused of promising former President Donald Trump that he would terminate CNN anchors unfavorable to Trump if regulators approved Paramount’s $111 billion acquisition of Warner Bros. Discovery. This claim has emerged from a newly revealed legal document.
The charge comes from two press freedom organizations, Freedom of the Press Foundation and Reporters Without Borders, which hold shares in Paramount Skydance.
In a detailed 19-page letter addressed to Paramount’s top legal officer, Makan Delrahim, the organizations expressed their ‘credible concern’ that company executives might have proposed political favors to Trump in return for leniency from federal regulators.
The document references reports that Ellison had discussions with White House officials about incorporating CNN into the Warner deal, intending to ‘apply the CBS strategy’ by making significant staffing and editorial changes at the network.
This purported strategy included the dismissal of anchors and commentators unfavored by Trump, who has consistently criticized CNN, labeling it as ‘fake news,’ and has suggested that the network should be either sold or shut down.
The press groups claim that Paramount may have proposed ‘more favorable coverage of the Trump administration and its associates in return for favorable decisions by Trump-era antitrust and media regulators.’
If true, they say the arrangement could constitute a breach of fiduciary duty and expose Paramount to civil and criminal penalties under bribery and anti-corruption laws.
Warner Bros. Discovery shareholders approved the takeover last month, leaving antitrust and Federal Communications Commission approval as the principal remaining hurdles to the deal getting the green light.
Larry Ellison allegedly promised President Donald Trump he would fire CNN anchors the president disliked if regulators approved Paramount’s takeover of Warner Bros. Discovery
Trump has repeatedly attacked CNN as ‘fake news’ and said the network should be sold or ‘turned off’
The letter also revisits Paramount’s controversial July 2025 settlement of Trump’s lawsuit over a 60 Minutes interview with former Vice President Kamala Harris.
Paramount agreed to pay $16 million to a foundation intended for Trump’s future presidential library, even as some executives reportedly worried the payment could be construed as a bribe.
The groups also cited Trump’s claim that he struck a separate ‘side deal’ directly with David Ellison under which Paramount would provide an additional $15 million to $20 million worth of advertising supporting causes important to him.
According to the filing, Paramount has already made sweeping changes at CBS News that appear designed to appease Trump and his allies.
Those moves include appointing a conservative ombudsman to monitor alleged bias, acquiring The Free Press for $150 million and naming founder Bari Weiss as editor-in-chief of CBS News.
The groups say those decisions damaged CBS’s brand and shareholder value, noting that Paramount’s stock price fell from $19.13 in October 2025 to $10.80 in May 2026.
The letter also questions Paramount’s $7.7 billion deal for domestic broadcasting rights to Ultimate Fighting Championship, whose CEO Dana White is one of Trump’s closest allies.
In addition, the groups raised concerns about foreign investment in the Warner deal after Paramount disclosed that post-merger indirect foreign ownership could reach approximately 49.5 percent.
The proposed $111 billion deal would put CNN under Paramount’s control if regulators approve the merger
Warner Bros. Discovery shareholders approved the takeover in April, leaving regulatory approval as one of the final hurdles
Press freedom groups are demanding access to Paramount’s internal records over concerns the company offered favors to win Trump administration approval
The two organizations are demanding board minutes, emails, text messages and communications with government officials related to the Trump settlement, the Warner acquisition and any internal plans for CNN.
Under Delaware law, Paramount has five business days to respond to the records request. If it refuses, the groups say they are prepared to sue in Delaware court and seek attorneys’ fees.
Clayton Weimers, executive director of Reporters Without Borders North America, told the Daily Mail that the group is concerned that the Trump administration has ‘clearly and publicly put its thumb on the scales in favor of Paramount,’ suggesting it expects the company’s new leadership to be politically favorable to the White House.
Weimers said one of the organization’s ‘biggest concerns’ is CNN, which he described as a frequent target of Trump’s attacks.
‘We’ve already seen how David Ellison compromised the editorial independence at CBS News since taking it over,’ Weimers said.
He added that large media mergers can harm press freedom by leading to layoffs and reducing the diversity of viewpoints in the marketplace.
Paramount did not immediately respond to a request for comment.
Daily Mail has also contacted Larry Ellison and The White House along with Freedom of the Press Foundation for further comment.
