Billionaires tied to Trump outbid Netflix to take over CNN’s parent company, and their vision for the network is making anchors sweat

Larry and David Ellison, who are known to be close allies of President Trump, have officially won the bidding war for Warner Bros. Discovery, the parent company of CNN. Their company, Paramount Skydance, outbid Netflix with an offer of $31 per share for the entire media conglomerate, which includes CNN, HBO, and a major Hollywood film studio.

Netflix had initially agreed to a deal for just the streaming service and film studio at $27.75 per share, but later pulled out. Warner Bros. Discovery’s board ultimately decided that Paramount Skydance’s offer provided “superior value, certainty and speed to closing” for shareholders. Larry Ellison, co-founder of Oracle and a major Republican donor, had previously attempted a $108 billion offer last year that did not go through.

President Trump has frequently criticized CNN and has even called for its sale in the past. According to The Daily Beast, David Ellison was recently a guest of Senator Lindsey Graham at Trump’s State of the Union address, and there are reports that he has already told administration officials about his plans to make significant changes at CNN once the takeover is complete.

Bari Weiss is expected to lead CNN into a new editorial direction under the Ellisons

Once the deal is finalized, Bari Weiss is widely expected to take charge of CNN. She is currently heading CBS News, which is also owned by Paramount, and her time there has been marked by controversy over her editorial decisions. This kind of political pressure on media is part of a broader pattern, much like how Republican leadership has flagged threats to Trump’s presidency that are outside the party’s control.

Anderson Cooper recently left his role on 60 Minutes to focus fully on his CNN duties, which means he will soon be working under Weiss if she does take over the network. With Paramount Skydance set to own CBS, CNN, and HBO, among other properties, this represents a major shift in the American media landscape. 

The Ellisons’ close ties to Trump and their reported plans for CNN suggest the network could move toward a more conservative editorial direction. There are already signs of fractures within the MAGA movement itself, with Marjorie Taylor Greene calling out Trump over what she sees as repeated broken promises.

Weiss is known for her outspoken views and her work at The Free Press, the independent media outlet she founded after leaving The New York Times. Her appointment at CBS News was already seen as a signal of a rightward shift, and her potential move to CNN would likely mark an even bigger change for the network.

The full impact of this acquisition will become clearer once the deal officially closes and leadership decisions are confirmed, but the direction already appears to be taking shape based on the Ellisons’ known positions and reported conversations with Trump administration officials.