Billionaire tech magnate Larry Ellison and his son, David Ellison, are at the center of a political and corporate drama that could redefine American media—and the fate of CNN.
The competing bid comes just days after Netflix reached a $72 billion agreement to acquire Warner’s film and HBO assets. Crucially, the Netflix proposal does not include CNN, which would be spun off into a separate company under its deal structure.
By contrast, Paramount’s offer explicitly includes CNN—and the Ellisons have made clear they intend to remake it from the ground up.
The Wall Street Journal reported that during private meetings in Washington, David Ellison told senior Trump officials that under Paramount ownership, CNN would undergo a “fundamental cultural and editorial overhaul.” His father, Oracle founder Larry Ellison, discussed firing prominent CNN anchors such as Erin Burnett and Brianna Keilar, two figures Trump has publicly criticized.
“The president wants new ownership of CNN and changes to CNN programming,” one White House official said. “He thinks the current leadership is openly hostile and believes a sale is long overdue.”
Both Ellisons have worked to cultivate Trump’s confidence as the Justice Department’s Antitrust Division—which reports to the president—will ultimately decide whether either deal is approved. The father-son duo were seen with Trump in the presidential box at the Kennedy Center Honors on Sunday, just 48 hours before Paramount’s counteroffer was announced.
According to The Guardian, Larry Ellison personally phoned the president after the Netflix-Warner announcement to argue that a Netflix acquisition “would hand Silicon Valley near-total control over streaming media” and stifle competition.
David Ellison has publicly described his vision for CNN and CBS News under a single, merged news division. In a CNBC interview, he said Paramount’s goal is to “build a scaled news service that is in the trust business, in the truth business, that speaks to the 70 percent of Americans in the middle.”
The Ellison plan would place the combined CNN–CBS News operation under the direction of Bari Weiss, the former New York Times columnist who recently took over as CBS News editor-in-chief and has rebranded the network as “anti-woke.” Her first major move was hiring Matt Gutman, formerly of ABC News, as CBS’s chief correspondent across CBS Mornings, CBS Evening News, and 48 Hours.
Recently, Gutman drew sharp criticism for remarks made while covering the fatal shooting of Charlie Kirk. During a live broadcast, he described text messages released between the alleged killer and his romantic partner as “very touching” and “intimate,” casting them in a sympathetic light despite the gravity of the crime.
Within 24 hours, Gutman issued an apology on social media, stating he “deeply regretted” that his words could be construed as insensitive, and asserting that he unequivocally condemns the assassination and the pain caused to Kirk’s family and supporters.
The Ellisons’ proposed acquisition would realign CNN with this alleged “post-woke” CBS ethos—one aimed squarely at restoring what David Ellison calls “viewer trust.”
Despite the outburst, aides say Trump remains open to the Paramount bid—particularly given that it includes CNN, unlike the Netflix plan. The president has privately told advisers he wants “real reform” at CNN and believes a Paramount acquisition could finally bring accountability to what he views as a hostile outlet.
At a White House roundtable Monday, Trump said, “I know the companies very well. I know what they’re doing. But I have to see what percentage of market they have. None of them are particularly great friends of mine. I want to do what’s right.”
The proposed megadeals have already triggered rare bipartisan alarm. Sen. Elizabeth Warren (D-MA) called both mergers “anti-monopoly nightmares,” while Rep. Darrell Issa (R-CA) warned that such consolidation “would shrink consumer choice and silence independent voices.”
A Wall Street Journal political newsletter summed up the moment succinctly: “Both Netflix and Paramount are acting like the fate of any multibillion-dollar deal runs through the Oval Office—because it does.”
