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Politics

Billionaires Bold CNN Strategy Truth Behind the Rumors

6 min read
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Kai Vector

Did a billionaire promise a CNN shake‑up to win Trump’s favor? Short answer: Reportedly yes—but key parts of the viral story are wrong

Reports say the Ellisons told Trump’s team they’d make sweeping changes at CNN if they win Warner Bros. Discovery. But Netflix’s bid isn’t all‑cash, Larry Ellison isn’t the sole “majority shareholder,” and a buzzy Kennedy Center “presidential box” sighting isn’t verified. The real story is a high‑stakes bidding war where CNN became a lobbying chip—and the facts are more complicated than the headlines.

The revelation up front: CNN as a bargaining chip

In private outreach highlighted by the Wall Street Journal and the Guardian, David Ellison (Paramount Skydance chief) and his father, Larry Ellison, sought to assure Trump insiders that CNN would change under an Ellison‑led takeover of Warner Bros. Discovery (WBD). The Guardian reported Larry Ellison discussed axing anchors disliked by Trump—naming Erin Burnett and Brianna Keilar—with a senior Trump aide. The WSJ said David Ellison signaled “sweeping changes” at CNN if Paramount bought WBD.

Here’s the twist that changes everything: under Netflix’s proposed deal, CNN wouldn’t be under Netflix at all—it would be spun off into a separate company. So only a Paramount Skydance win would give the Ellisons power over CNN’s programming.

The two deals—what’s actually on the table

Inside the lobbying blitz: “It’s going through the Oval Office”

Both sides are lobbying the White House as the Justice Department’s Antitrust Division prepares to review the deals. Trump himself said Netflix’s market share “could be a problem,” that he’ll be “involved in that decision,” and that none of the bidders are “particularly great friends” of his. He also said he met Netflix co‑CEO Ted Sarandos last week.

Important guardrail: It is the DOJ Antitrust Division—not the President personally—that conducts merger review. Trump’s comments underscore the political heat, but the legal process sits with DOJ. FCC review is considered unlikely since no broadcast licenses would change hands.

Money and muscle: Who’s backing whom

Coverage of Paramount Skydance’s financing mentions the Ellison family plus capital from Jared Kushner’s Affinity Partners and sovereign wealth funds including Saudi Arabia’s PIF and Qatar’s QIA.

And about that “majority shareholder” line: Calling Larry Ellison Paramount’s sole majority shareholder is imprecise. Control of the post‑merger Paramount Skydance rests with the Ellison family’s voting structure alongside RedBird, with defined splits among David and Larry Ellison.

What’s true, what’s off, what we don’t know yet

Why CNN sits at the center—and why that matters

That’s why the Ellisons’ reported pitch to Trump is so striking. It aligns with only one of the two paths: a Paramount victory.

The stakes: market power, prices, and jobs

A consumer class action is already challenging the Netflix deal. Regulators will weigh whether either path harms consumers or workers—and the politics around CNN will only raise the temperature.

How we verified this

We reviewed deal announcements, SEC filings, and reporting from the Washington Post, Wall Street Journal, Guardian, Politico, Reuters, and trade outlets. Where claims lacked solid sourcing—like the “presidential box” sighting—we label them unverified. Where language overstated control or misstated deal terms, we correct it with primary sources.

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