Billionaire Eyes CNN Overhaul in Bid to Win Trump’s Favor Amid Mega Merger Battle.

WHAT HAPPENED: Paramount launched a counterbid for Warner Bros Discovery, promising changes at CNN.

WHO WAS INVOLVED: David Ellison, Larry Ellison, President Donald J. Trump, Netflix, and Warner Bros Discovery.

WHEN & WHERE: December 2025, Washington, D.C., and Los Angeles, California.

KEY QUOTE: “None of them are particularly great friends of mine.” – Donald Trump

IMPACT: Potential changes at CNN and a significant shift in the media landscape.

Paramount CEO David Ellison has reportedly promised Trump officials that he would push for major changes at CNN if Paramount succeeds in acquiring Warner Bros. Discovery (WBD). Paramount, backed by billionaire Larry Ellison, is offering $77.9 billion in cash, outbidding Netflix’s $72 billion proposal.

David Ellison told Trump’s team he would implement a “significant overhaul” at CNN, a network the President frequently calls “fake news.” The potential changes could include firing hosts such as Erin Burnett and Brianna Keilar. The younger Ellison has been publicly seen with Trump at the Kennedy Center Honors in recent days.

President Trump responded to the proposed media deal on December 8, saying, “None of them are particularly great friends of mine.”

President Trump slammed CNN and The New York Times for misreporting on U.S. strikes in Iran earlier this year, calling the coverage “fake news.” Meanwhile, CNN has admitted to underreporting aspects of former President Joe Biden’s health.

Netflix co-CEO Ted Sarandos has also been engaging with the White House, though he reportedly did not meet Trump during his recent visit. Lawmakers on both sides of the aisle have expressed concern over the proposed merger. Senator Elizabeth Warren (D-MA) and Representative Pramila Jayapal (D-WA) have warned that consolidation could limit competition and consumer choice, while Republicans have raised concerns about antitrust issues.

The battle for WBD has drawn significant attention because of its potential impact on the U.S. media landscape. Analysts say the deal could reshape television news, streaming, and entertainment content, influencing how Americans receive information. Paramount’s offer represents one of the largest all-cash bids in recent media history, signaling high stakes for both companies.

The Trump administration has not publicly taken sides in the bidding war, instead monitoring potential antitrust implications.

Image by Gregor Smith.

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