MAGA-supporting billionaires Larry Ellison and his son David are making headlines. They’ve won a fierce bidding war for CNN’s parent company, and it looks like they plan to steer it in a more conservative direction.
Their company, Paramount Skydance, recently outbid Netflix for Warner Bros. Discovery. They upped their offer from $30 to $31 per share, catching many by surprise. David Ellison made headlines after attending Donald Trump’s State of the Union address as a guest of Republican Senator Lindsey Graham.
Once the deal is finalized, CNN might be led by Bari Weiss. She currently runs CBS News and is known for her controversial leadership style. Anderson Cooper has already stepped away from 60 Minutes to focus entirely on his role at CNN, where he’ll be working alongside Weiss soon.
The board at Warner Bros. Discovery found Paramount Skydance’s offer more appealing than Netflix’s plan to acquire only its streaming service and film studio. Netflix recently chose not to match the Ellison bid, stating that the deal wasn’t financially worthwhile for them anymore.
In December, Netflix had reached a deal to acquire HBO Max and its studios for $72 billion. The Ellison’s bid, however, was more aggressive, seeking full ownership of the conglomerate and including all its subsidiaries. Their strategy was aimed directly at shareholders, starting at $30 per share.
The Ellisons are well-connected to Trump. The former president has often criticized CNN, suggesting it should be sold. David Ellison has hinted at potential changes at CNN if their takeover goes through. He expressed this intention during discussions with White House officials.
Larry Ellison, a tech mogul and billionaire, supported his son’s audacious takeover attempt after his previous $108 billion offer was turned down last year. Analysts say this shift could change the landscape of news media significantly, with conservative influences on the rise.
Public reactions have been mixed. While some are curious about the possibilities, others express concern over the potential bias in news coverage. Social media is buzzing with debates on how this change might affect viewer trust in major news outlets.
As media ownership shifts more toward individuals with political biases, experts warn that it could lead to more polarized news coverage. A recent survey from the Pew Research Center highlighted that nearly 70% of Americans feel that news organizations are deeply affected by their owners’ political views.
This deal is not just about entertainment; it’s about shaping public discourse. With significant power in the hands of the Ellisons, the future of CNN may reflect a broader trend in media where financial interests align closely with political ideology.
For more on media ownership and its implications, visit the Pew Research Center.
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