Paramount Skydance CEO David Ellison broke his silence on the antitrust litigation facing his company’s proposed $111 billion merger with Warner Bros. Discovery.
In a New York Times guest essay published Tuesday, Ellison argued that legal pushback against the deal has been motivated by concerns over his ownership of CNN, not market share as argued by a dozen Democratic state attorneys general.
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“I believe this fight is not really about market share. If it were, it wouldn’t have been reviewed and approved by regulators reflecting 65 countries, including the United States, the European Union and China,” he wrote. “I believe a plainer worry sits beneath the briefs and the news releases: the news. The issue is whether I can be trusted as a steward of Warner’s CNN. There has been speculation about my politics, my loyalties, my intentions.”
The chief executive has faced scrutiny stemming from his friendly relationship with President Donald Trump, who famously despises the news outlet. Since late last year, reports have alleged that Ellison and his father, tech billionaire Larry Ellison, promised Trump they would overhaul CNN if Paramount Skydance ultimately buys Warner Bros., which owns CNN. Paramount has denied such reports.
Critics of the merger have pointed to Paramount Skydance’s takeover of CBS News last August as proof that CNN would be worse off in Ellison’s hands. CBS News saw a major leadership change with the appointment of Bari Weiss as editor-in-chief after Skydance Media acquired and merged with Paramount Global. Before joining Paramount, Ellison founded and led Skydance for nearly 20 years.
The film producer offered readers a peek into his political beliefs in an effort to counter claims that he will steer news outlets toward his personal views.
“I have regularly voted for candidates of both parties,” Ellison said. “I hold some views that would be called conservative and others that would be called liberal, just like most Americans; and when it comes to our news operations, I do not aspire to lead these companies to bend their newsrooms to my views. I believe that news should be based on facts and truth.”
“Great news organizations like CNN and CBS News are here to tell it straight down the middle,” he added. “That requires newsrooms that reflect the whole world, not one side of it. And it requires independence. Our journalists will continue to answer to the facts and to all the people they serve — not to any party or cause. These were founding principles for both CNN and CBS News, for legends like Ted Turner and Edward R. Murrow, and it is exactly that kind of independence that has always fueled the greatness of ’60 Minutes.'”
The long-running Sunday evening news program faced massive upheaval this year when CBS News fired prominent journalists Scott Pelley and Sharyn Alfonsi, among others, from the show.
To fill those shoes, CBS recently announced a new slate of hires for 60 Minutes, including former New York Times conservative columnist Ross Douthat.
Meanwhile, the merger agreement between Paramount Skydance and Warner Bros. is at risk of falling apart after California and 11 other states sued to block the companies from combining under federal antitrust law. The Writers Guild of America has a similar lawsuit playing out in court.
Ellison decided to speak out against the legal opposition facing his company because, he wrote, “while I was silent, others were happy to write my story for me.”
Toward the end of his op-ed, Ellison said it’s up to the audience “whether a news organization thrives or withers,” not any decisions made by Paramount Skydance if it ends up controlling CNN. Right now, the merger’s fate is dependent on the outcome of an upcoming trial.
Paramount Skydance proposed Nov. 4 as the trial date, while California Attorney General Rob Bonta and the other plaintiffs want the trial proceedings to start April 5, 2027. A federal judge presiding over the case has yet to decide on trial scheduling.
PARAMOUNT DELAYS WARNER BROS. MERGER AMID LEGAL ROADBLOCKS
Last month, Paramount Skydance agreed to postpone the date to close the merger until the antitrust trial concludes or June 1, 2027, whichever comes first. The company previously wanted to finalize the deal by Sept. 30. For every quarter after that date, Paramount Skydance must pay Warner Bros. shareholders a “ticking fee” amounting to about $650 million. By next June, Paramount will be on the hook for roughly $2 billion.
Ellison’s op-ed was published on the same day that Paramount is supposed to report its second-quarter earnings. Warner Bros. is doing the same on Thursday.
