The recent decision by Netflix to abandon its $83bn bid for Warner Bros Discovery (WBD) has left many staffers at CBS News and CNN anxious about their future, as Paramount Skydance emerges as the winning bidder. This potential merger of the two top-tier news operations has sparked fears of significant job cuts and ideologically driven programming changes.
According to a concerned CNN producer, who was not authorized to comment, a Paramount-WBD merger would be a disaster for employees at both companies, and if Bari Weiss, the current editor-in-chief of CBS News, were to take control of CNN, it would mark the end of the global network founded by Ted Turner. Weiss, a conservative commentator turned media entrepreneur, has had an uneven tenure at CBS News since her appointment last October.
Another CNN staffer had a more measured reaction, stating that CNN's size and profitability made it an attractive target for the Ellisons. Meanwhile, multiple CBS News staffers expressed their concerns, with one producer saying, "Fuck, fuck, fuck," and another expecting their department to be axed if the network is merged with CNN.
Implications of the Merger
Paramount's victory would add not only CNN but also Warner's prestigious HBO network to its portfolio, raising concerns about the potential for censorship and ideologically driven programming changes. Seth Stern, chief of advocacy at the Freedom of the Press Foundation, warned that David Ellison, Paramount Skydance's chief executive, would readily compromise the First Amendment and CNN's reporters if it served his corporate interests.
WBD's chief executive, David Zaslav, took a more positive tone, stating that the merger would create tremendous value for shareholders. However, the deal still requires approval from WBD shareholders and government regulators, and could face legal challenges from state attorneys general.
Reaction from CNN and CBS News Staff
CNN chief executive Mark Thompson urged employees not to jump to conclusions about the future, emphasizing the importance of continuing to deliver high-quality journalism. Meanwhile, Donald Trump, a longtime critic of CNN, expressed his support for the merger, stating that the network's leadership should be ousted.
CNN staffers have expressed concern about the potential for changes at the network, particularly given Larry Ellison's discussions with a White House official about axing certain CNN hosts. David Ellison acknowledged having conversations with Trump about CNN, but downplayed the significance of these discussions.
Regulatory Challenges Ahead
The merger will still have to navigate 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.
As the situation unfolds, CBS News and CNN staffers will be watching closely, anxious about the potential implications of the merger for their jobs and the future of their networks. The Guardian reported on this story, highlighting the concerns and uncertainties surrounding the Paramount-WBD merger.
