Paramount Unwilling to Sell CNN as Industry Pushes for Settlement Concessions
There is "zero truth” to reports that CEO David Ellison is prepared to sell the cable news network The post Paramount Unwilling to Sell CNN as Industry Pushes for Settlement Concessions appeared first on TheWrap .
Paramount has firmly denied reports suggesting CEO David Ellison could sell CNN to expedite the company's $110 billion acquisition of Warner Bros. Discovery. According to a source with knowledge of the situation, CNN is "not for sale." This statement counters earlier claims that Paramount chief legal officer Makan Delrahim, during a conference call, hinted at the possibility of selling the cable news network to facilitate the WBD transaction.
Delrahim's comments were interpreted as a willingness to negotiate with California Attorney General Rob Bonta over antitrust concerns, not as a signal that Ellison intends to offload CNN. CNN's chief media analyst, Brian Stelter, clarified that Delrahim's remarks were meant to convey Paramount's openness to discussions, not a readiness to sell the network.
The legal dispute involving California and 11 other states, who are contesting the deal on antitrust grounds, has complicated the acquisition process and placed CNN at the center of the controversy. Ellison has argued that some opposition to the deal stems from concerns about his leadership of CNN, while Paramount has sought ways to protect the network's editorial independence.
Delrahim also noted that Ellison aims to "bring CNN back to news" following the completion of the merger.
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