A deal between Paramount and Warner Bros could hold serious ramifications for the future of one of the US’s biggest news brands – CNN.
Trump has frequently attacked the news network over its reporting of his policies. He said in December that he believed CNN should be sold as part of any Warner Bros deal. He called the people running CNN “corrupt or incompetent” and said they should not be entrusted to run the network.
CNN head Mark Thompson sent an email to employees as news spread of the all-but-assured deal, telling workers to not “jump to conclusions about the future until we know more”, US media reported.
The BBC has contacted CNN for comment.
Last December, Warner Bros agreed to a takeover offer from Netflix for some of its assets. But Paramount, which is backed by tech billionaire Larry Ellison and led by his son David, made a rival offer as it looks to transform itself into a Hollywood heavyweight. But it had been rebuffed by Warner Bros.
The funding of Paramount’s offer has drawn scrutiny, in part over the close ties between Trump and Larry Ellison, a major Republican donor.
Paramount’s initial hostile bid was also supported by Trump’s son-in-law and adviser Jared Kushner through his investment firm, raising concerns about the president’s influence over the deal.
Kushner’s firm, Affinity Partners, backed away in December amid scrutiny over the deal.
Paramount’s 2025 merger with Skydance also led to scrutiny amid negotiations with the Trump administration’s Federal Communications Commission, which had to sign off on the deal.
Among the concessions made was Paramount’s $16m settlement on behalf of CBS News. Trump had sued the network over a “60 Minutes” interview with former vice president Kamala Harris, claiming that the network had engaged in election interference in the way the program was edited.
The two studio’s merger later resulted in leadership shakeups and layoffs at CBS News.
On Thursday, chief executive David Ellison welcomed the Warner Bros board’s decision in favour of Paramount’s sweetened offer. The proposal, he said in a statement, offers Warner Bros shareholders “superior value, certainty and speed to closing”.
If Paramount’s deal is approved by regulators, the company would fold Warner Bros’ HBO Max streaming customers into its portfolio. It would also take ownership of CNN, the Food Network and a range of sports offerings.
Paramount’s traditional networks already include brands such as Nickelodeon, CBS and Comedy Central.