Paramount Skydance Is Considering Selling CNN Amid a Lawsuit Over Its Merger with WBD
Paramount Skydance is considering selling CNN amid an antitrust lawsuit aimed at blocking the company’s proposed $110 billion merger with Warner Bros. Discovery, according to Al Jazeera.
Paramount Skydance Chief Legal Officer Makan Delrahim stated during the Politico Agenda California conference on Tuesday that the potential sale of CNN is one of the options the company is considering. The lawsuit against the deal was filed by 12 U.S. states, led by California. Delrahim also said that Paramount Skydance has been “transparent” and is ready to work with both Republicans and Democrats to move the merger forward.
The possible sale of CNN is also being discussed amid questions about whether the network’s editorial independence will be preserved if the deal goes through. Allison, whose father Larry Ellison is a co-founder of Oracle and an ally of U.S. President Donald Trump, has assured that he will not interfere with CNN’s journalism. According to CNN media analyst Brian Stelter, these assurances echo the promises Allison made before CBS News came under the control of Paramount Skydance.
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Seth Stern, director of advocacy at the Freedom of the Press Foundation, told Al Jazeera that the sale of CNN would not address the plaintiffs’ core claims. According to him, the lawsuit filed by state attorneys general is an antitrust case and does not concern CNN, and the sale of the network will also not alleviate specific concerns about censorship raised by free speech advocates.
The lawsuit alleges that the merger of the studios will reduce consumer choice and professional opportunities for film and television workers. California Attorney General Rob Bonta warned that the merged company would control 27% of the market for films released in U.S. theaters, as well as the distribution of basic cable television. Delrahim also confirmed reports that Paramount is considering moving its operations out of California.
