The recent decision by Netflix to abandon its $83bn bid for Warner Bros Discovery (WBD) has sent shockwaves through the media industry, leaving staffers at CBS News and CNN anxious about their future. As reported by The Guardian, the winning bid by Paramount Skydance has sparked concerns about potential job cuts and programming changes, particularly with the specter of Bari Weiss, CBS News editor-in-chief, possibly taking on a significant role at CNN.
Weiss, a conservative commentator turned media entrepreneur, has had a tumultuous tenure at CBS News since her appointment last October. Her path to the job was paved by concessions made by David Ellison and his Skydance Media to gain the support of Trump-picked regulators to acquire Paramount. The potential merger of CBS News and CNN under Paramount's ownership has raised fears among employees about the future of their networks.
A concerned CNN producer, who was not authorized to comment, told The Guardian that a Paramount-WBD merger would be a "disaster" for employees, and if Bari Weiss takes control of CNN, it would mark the end of the global network founded by Ted Turner. Turner, a billionaire media entrepreneur, revolutionized TV news when he founded the 24-hour, all-news channel in 1980.
Staff Reactions and Concerns
CNN staffers have expressed concern about the potential merger, with one producer saying that the network's size and revenue made it an attractive target for the Ellisons. Multiple CBS News staffers resorted to strong language when reacting to the news, with one producer expecting their department to be axed if the network is merged with CNN and duplicative services are cut.
Seth Stern, chief of advocacy at the Freedom of the Press Foundation, predicted that David Ellison would prioritize expanding his corporate empire over protecting the First Amendment rights of CNN's reporters and HBO's filmmakers. "Censorship is bad for business," Stern said. "WBD executives and shareholders should recognize that selling companies that depend on the First Amendment to a censorial White House puppet is not only morally wrong but harmful to their bottom line."
WBD's chief executive, David Zaslav, took a more positive tone, saying that the merger would create "tremendous value" for shareholders. In a memo to CNN employees, chief executive Mark Thompson urged them not to jump to conclusions about the future and to focus on delivering high-quality journalism to their audience.
Regulatory Process and Potential Challenges
The merger will still need to go through a regulatory process led by the antitrust division of the Department of Justice, and could face legal challenges from state attorneys general. Alvaro Bedoya, a former commissioner of the Federal Trade Commission, expressed concern about the vast portfolio of assets that will be controlled by the Ellison family, calling for the deal to be blocked.
Donald Trump, a longtime critic of CNN, had previously stated that the network should be part of any sale of WBD and that the winning bidder should oust the network's leadership. The potential merger has raised concerns among CNN staffers, particularly after reports that Larry Ellison, the largest shareholder of Paramount Skydance, had discussed potential changes at the network with a White House official.
Implications and Uncertainty
The potential merger of CBS News and CNN under Paramount's ownership has significant implications for the media industry and the future of journalism. As the regulatory process unfolds, employees and observers will be watching closely to see how the deal will impact the networks and their programming. For now, the future of these two iconic news organizations remains uncertain, leaving staffers and audiences alike to wonder what the future holds.
