Paramount’s Not Buying CNN – It’s Buying Everything!

However, Paramount Skydance has entered into a definitive merger agreement to acquire the entire Warner Bros. Discovery (WBD) — CNN’s parent company — in an all-cash deal valued at approximately $111 billion ($31 per share).

By SyndicatedNews Media Guru | SNN.BZ

Paramount is not purchasing CNN as a standalone company — Paramount Skydance has entered into a definitive merger agreement to acquire the entire Warner Bros. Discovery (WBD) — CNN’s parent company — in an all-cash deal valued at approximately $111 billion ($31 per share).

Announcement date: February 27, 2026
How it happened: After a months-long bidding war, Netflix withdrew its offer on February 26–27, 2026, stating Paramount’s revised bid was superior. Warner Bros. Discovery’s board then formally accepted Paramount’s proposal and signed the merger agreement on February 27–28.
What is being acquired: 100% of Warner Bros. Discovery, including CNN, HBO, Max, Warner Bros. film and television studios, DC Comics, TNT Sports, HGTV, Food Network, and other cable networks.
Timeline: The transaction is expected to close in the third quarter of 2026, subject to customary conditions including U.S. Department of Justice antitrust review, FCC approval, shareholder votes, and other regulatory clearances.
Ownership note: Paramount Global (now controlled by Skydance under David Ellison, with major backing from his father Larry Ellison) will become the new owner of CNN if the deal is approved and completes.

Official sources confirming the deal

Paramount press release (February 27–28, 2026)
Warner Bros. Discovery board statement
Reporting from The New York Times, CNN Business, Variety, Los Angeles Times, NPR, AP, Deadline, and TechCrunch (all published within the last 24 hours)

The deal is widely described in the business press as Paramount acquiring Warner Bros. Discovery, not as a direct purchase of CNN alone. No separate transaction for CNN has been announced or is occurring.

The acquisition remains pending final approvals and is not yet finalized.

The Ellison family—Larry Ellison (Oracle co-founder and a prominent Trump donor) and his son David (CEO of Skydance Media)—has indeed been building a significant media empire. Skydance’s merger with Paramount Global was completed in August 2025, giving them control over assets like CBS News, Paramount Pictures, and Paramount+. As of February 2026, Paramount Skydance has just announced a definitive agreement to acquire Warner Bros.

Discovery (WBD) in a $110-111 billion deal, which would add CNN, HBO, Warner Bros. studios, and more to their portfolio if it closes (expected in Q3 2026, pending regulatory and shareholder approvals). This would consolidate a massive portion of TV news (CBS and CNN under one roof) and entertainment, though it’s not yet a done deal and faces scrutiny from Democrats over potential antitrust issues and influence from Trump allies.

Rachel Maddow, a vocal critic of Trump and his orbit, has already expressed strong opposition to the Ellisons’ expanding control. In late 2025, she publicly called the post-merger changes at CBS News a “huge embarrassment” and urged Paramount to reverse the cancellation of Stephen Colbert’s The Late Show, framing it as part of broader capitulation to pro-Trump pressures.

Other MSNBC figures like Ari Melber have described the potential CNN acquisition as “what Donald Trump wanted,” highlighting fears of threats to press freedom and a shift toward right-leaning bias under Ellison’s leadership. Democratic lawmakers, including Reps. Jamie Raskin and Frank Pallone, have accused Paramount Skydance of stonewalling investigations into the original merger, citing concerns over alleged bribery and editorial interference tied to Trump.

Whether these reactions qualify as “rational” is subjective and depends on one’s political lens. From a liberal perspective (shared by Maddow and many “Trump haters”), the concerns are grounded in documented ties between the Ellisons and Trump—such as Larry’s fundraising support and the timing of mergers during Trump’s administration—which could plausibly influence news coverage. Critics argue this consolidation risks turning outlets like CNN into pro-Trump mouthpieces, similar to claims about Fox News. On the flip side, supporters of the deals point to business merits, like saving jobs and improving operations, without evidence of overt political meddling yet.

If the WBD deal closes, expect amplified pushback from figures like Maddow—potentially including on-air segments, op-eds, or calls for regulatory blocks—consistent with their past responses to perceived threats to media independence. But “rationality” here boils down to whether you view the Ellisons as neutral business operators or as ideological actors; the evidence suggests the former to some and the latter to others.