“The Trumpification of CNN”: Paramount-Skydance Set to Acquire Warner Bros. Discovery

WASHINGTON — In a seismic shift for the American media landscape, a months-long bidding war for Warner Bros. Discovery (WBD) ended on Thursday, February 26, 2026, as Netflix officially withdrew its offer, clearing the way for a takeover by Paramount-Skydance. The deal, valued at $31 per share, places CNN, HBO, and the Warner Bros. film studio under the control of David Ellison and his father, Oracle founder and prominent MAGA donor Larry Ellison.

The acquisition has sparked immediate concern among media watchdogs and staff, as the deal was reportedly emboldened by the President’s public preference for the Ellisons over “liberal” tech giants.

The Bidding War: Why Netflix Walked Away

The battle for the “Tiffany Network” and its parent company reached a breaking point this week after Paramount submitted a revised, “hostile” bid that the WBD board deemed superior to the existing Netflix agreement.

• The Netflix Retreat: Following a high-stakes visit to the White House by co-CEO Ted Sarandos, Netflix confirmed on Thursday that it would not raise its offer to match Paramount’s $31-per-share price, citing a desire to avoid a “costly escalation.”
• The Breakup Fee: Paramount has agreed to pay a $2.8 billion breakup fee to Netflix to nullify the previous merger agreement.
• Regulatory Reassurance: To calm investor fears of a blocked merger, the Ellisons included a $7 billion regulatory termination fee, signaling confidence that the Trump-appointed FCC and DOJ will fast-track the deal.

“Trumpy” Transitions: The Ellison Vision

Larry Ellison, a centibillionaire who has donated millions to the President’s campaigns and hosted high-dollar fundraisers at his California estate, is expected to exert significant influence over CNN’s editorial direction.

1. A “Middle” Strategy: David Ellison has publicly stated his desire to turn CNN into a service that speaks to the “70% of Americans in the middle,” a phrase critics interpret as a pivot toward a more conservative-friendly, “both-sides” narrative.
2. The CBS Model: Observers point to recent changes at CBS News (also owned by Paramount) as a blueprint. Since the Ellison influence began, the network has faced criticism for “sanctioning” content, including the controversial pulling of a Stephen Colbert interview with Texas Democrat James Talarico earlier this month.
3. Staff Anxiety: Internal memos at CNN’s Hudson Yards headquarters describe a “mood of deep uncertainty.” There are widespread fears of a “purge” of anchors and producers who have been vocally critical of the current administration.

“Cleaning the Tiffany Network”

The President, who has long labeled CNN “the enemy of the people,” celebrated the looming change in ownership in a series of social media posts on Thursday afternoon.

“I think the people that have run CNN for the last long period of time are a disgrace. I think it’s imperative that CNN be sold… The Great Cleanup continues!” — The President, Feb 26, 2026

Critics, including Free Press Co-CEO Craig Aaron, called the deal a “disaster for free expression,” arguing that putting the nation’s primary cable news network in the hands of “political allies” is a hallmark of an authoritarian media strategy.

What’s Next for Discovery Global?

While the Paramount deal includes the entire WBD portfolio, the future of the “Discovery Global” cable spinoff remains in flux.

• Integration: David Ellison has hinted at combining the newsgathering operations of CNN and CBS News to create a “scaled global news service.”
• Subscription Push: CNN’s newly launched “All Access” streaming service will likely be integrated into Paramount+, creating a massive new competitor to Disney+ and Netflix.
• Regulatory Clock: The deal is expected to close within 12 to 18 months, though the FCC’s Brendan Carr has indicated he may seek to expedite the timeline to “ensure stability” in the media markets.