Paramount's Warner Bros Takeover Raises Press Freedom Fears at CNN and CBS

Paramount Skydance has completed its takeover of Warner Bros Discovery, bringing CNN and CBS News under a single corporate owner in a deal that has raised concerns about editorial independence and free speech.

The deal, valued at about $110bn including debt, combines two of Hollywood's biggest studios after months of legal challenges brought by state attorneys general and unions.

The new company, Skydance Corporation, unites HBO, CBS, Nickelodeon, Showtime, Comedy Central, DC Studios and Food Network, along with the streaming services Paramount+ and HBO Max.

Its control of two major US news organisations, however, has drawn particular scrutiny. David Ellison, Skydance's chairman and chief executive, has pledged to uphold their editorial independence, but his father, Oracle co-founder Larry Ellison, is a major financial backer of the deal and has previously donated money to US President Donald Trump and to Israel.

Asked about the deal on Tuesday, Trump was welcoming. "They're great people, and it's going to be a strong company," he said.

Why was the deal opposed?

The deal initially ran into opposition from Hollywood labour, politicians and state prosecutors worried about growing concentration of power in an industry already dominated by a handful of companies.

Netflix initially struck a deal to buy part of Warner Bros Discovery. Paramount then made a competing offer, setting off a bidding war before Netflix walked away.

A coalition of 12 state attorneys general led by California sued to block the deal, arguing it would reduce competition and raise prices. The Writers Guild of America filed a separate challenge.

Both cases were settled in September when Paramount agreed to commitments on film production, support for laid-off workers and protections for the news networks, including the creation of a new editorial independence board.

The settlement did not end opposition to the deal, however. "This merger will stifle creativity, undermine free speech and cost people their jobs," said actor and activist Mark Ruffalo.

Democratic Senator Elizabeth Warren linked the deal to Trump's efforts to limit media access. "When Trump tries to ban CNN from the White House, it would be a huge mistake to give in on the Paramount deal," she said, referring to the US president's so-far blocked effort last month to bar reporters from a number of news organisations, including CNN, from the White House.

Can an editorial independence board protect CNN and CBS?

One condition of the settlement requires Skydance to establish a "News Editorial Independence Board" within 180 days of completing the deal.

The five-member body must include working or retired journalists with at least 10 years of experience. Its purpose is to set editorial principles and resolve disputes between the news networks and corporate management.

Its members, however, will be appointed by and report to Skydance's board of directors, chaired by Ellison. Two members may belong to the same political party, and there is no requirement to publish the board's findings.

That condition leaves critics with a host of questions, including: How can a member of an editorial independence board also be a member of a political party? How can it be monitored if its findings are not made public? How can it be independent if it is appointed by a board of directors, who are in turn appointed by the company's chief executive?

Seth Stern, advocacy director at the Freedom of the Press Foundation, said: "An editorial independence board appointed by Paramount for CNN and CBS is worthless. The fish rots from the head, and this particular fish is led by a billionaire who has compromised with a history of throwing journalists under the bus to advance his business interests."

Stern also questioned whether government enforcement of the settlement could itself threaten press freedom. "The board creates the very First Amendment problems it is supposed to solve – government interference in the news."

The First Amendment provides constitutional protection for freedom of speech and the press.

Ellison has argued that the two networks will continue to operate independently. "We will make sure that CNN and CBS News are fully editorially independent," he said on Tuesday.

On Monday, Skydance announced that Mark Thompson would remain president and editor-in-chief of CNN, while Bari Weiss stays on as editor-in-chief of CBS News, easing earlier fears that Weiss would immediately take charge of both networks.

Why is there concern about editorial independence?

The deal hands the Ellison family control of CNN less than a month before the US midterm elections on 3 November, and follows repeated attacks by Trump on the network as it has sought to hold the US president to account.

Shortly after Paramount made its offer in December, Trump accused CNN of spreading "poison and lies" and said selling it was "imperative", while his administration moved to bar the network from reporting in parts of the White House.

Ellison donated about $45m to a political non-profit supporting Trump's 2024 election effort, and gave $16.6m to Friends of the Israel Defense Forces, a charity supporting Israeli soldiers – the organisation's largest single donation at the time.

Earlier this year, the White House criticised CNN's coverage of the US-Israel war in Iran, while Defence Secretary Pete Hegseth told reporters that "the sooner David Ellison takes over that network, the better".

Sovereign wealth funds from Saudi Arabia, Qatar and the United Arab Emirates also hold indirect financial interests in the merged company. They have no voting shares, although their involvement adds another layer of scrutiny over the funding.

Concerns over the future of editorial integrity mounted, however, after Skydance's 2025 acquisition of Paramount, and the rounds of layoffs that followed, along with the closure of CBS News Radio and changes to CBS News' flagship investigative programme 60 Minutes.

Senior departures under CBS News editor-in-chief Bari Weiss and Skydance Media chief executive David Ellison included correspondents Sharyn Alfonsi and Cecilia Vega, as well as 60 Minutes executive producer Tanya Simon.

The programme's September season launch drew roughly 21 percent fewer viewers than a year earlier.

In 2025, Paramount also agreed to pay Trump $16m to settle a lawsuit over the editing of a 60 Minutes interview with then presidential candidate Kamala Harris.

In a letter dated 2 June, nine advocacy groups, including Reporters Without Borders, the Freedom of the Press Foundation and the First Amendment Committee, warned that CNN could face similar upheaval and layoffs.

"Bari Weiss's brazen actions fulfil the Ellison family's commitment to President Trump to remake CBS in his image," they alleged, referring to the layoffs and changes at 60 Minutes.

"Larry Ellison reportedly promised to do the same at CNN if allowed to take control through the pending Paramount-Warner Bros. Discovery merger. Not because it makes business sense, but because they seek to control public discourse."

The groups described the proposed deal as "an existential threat to a free press, independent media and free speech in this country and beyond".