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Staff members at CNN are expressing deep concern about their future as the CEO of Paramount, known for his favorable stance towards Trump, prepares to take control of Warner Bros. Discovery, CNN’s parent company. Anxiety surged through the newsroom on Thursday after Netflix announced it no longer found pursuing Warner financially appealing, as reported by Status. Paramount CEO David Ellison’s $111 billion offer, translating to $31 per share, went unchallenged. Ellison’s plans for the network remain uncertain. Both David and his father, Larry Ellison, who gained approval for acquiring Paramount last year, have connections with the Trump administration.
Trump Allies Celebrate as Netflix Drops Warner Bid
Trump’s advisors celebrated Netflix’s decision to pull back from its bid for Warner’s studio and streaming services, a source revealed to Status. Netflix had been interested only in Warner’s streaming and movie studio. Paramount, which owns CBS News, has reportedly caused panic among CBS employees at the prospect of merging under one company with CNN. “This is a mess,” exclaimed one CBS producer to Status, expressing frustration over the likely future. Another CBS employee echoed the sentiment, acknowledging that the consolidation would likely lead to staff reductions on both sides.
CNN ‘Panic Off the Charts’ Over Bari Weiss Appointment
The potential leadership of CBS News by Bari Weiss, known for her right-leaning views and chosen by Ellison, has particularly alarmed CNN employees, according to Status. “The panic at CNN is at an all-time high,” an insider shared on Thursday night. A CNN employee commented that recent changes at CBS News under Weiss have damaged the credibility of their news brand. Appointed by Ellison in October, Weiss, 41, was expected to bring disruption, being a strong critic of traditional news outlets. Meanwhile, David Ellison’s father, 81-year-old Larry Ellison, reportedly suggested in November that top CNN talent might face layoffs if his son succeeded in acquiring the company, as reported by the Guardian.
The Oracle founder singled out anchors like Erin Burnett and Brianna Keilar because they are not liked by Donald Trump, sources said back then. The elder Ellison – wel- known GOP donor – also reportedly pondered a programming change that would put longtime CBS News flagship program 60 Minutes on CNN. At the time, his son, a 43-year-old former Hollywood producer, had just entered an unknown bid for the entire WBD portfolio, CNN included. Netflix then entered its $27.75-a-share bid, which was abandoned on Thursday, following months of bids from Paramount. Larry and David were the only bidders who wanted to buy WBD in its entirety. CNN, as a channel, has shed nearly two-thirds of its primetime viewers since 2016.
A Netflix acquisition would have seen CNN spun off alongside Warner’s other waning cable assets into an entirely new company, much like MS NOW’s separation under Versant last year. The network was previously controlled by NBCUniversal. ‘A Paramount WBD merger is a disaster for the people who work at both companies, and if Bari Weiss takes control of CNN, it will be the end of the global network Ted Turner founded,’ one frightened CNN producer told the Guardian Thursday. Trump said back in December of Warner: ‘I don’t think the people that are running that company right now and running CNN – which is a very dishonest group of people – I don’t think that should be allowed to continue. ‘I think CNN should be sold along with everything.’