mergers in years. Warner Bros. Discovery is the publicly traded parent of CNN (NASDAQ: WBD), and the merger’s fate directly determines whether Ellison’s Paramount consolidates control over both CBS News and the cable network.
Separately, the Wall Street Journal reported Wednesday that Paramount has discussed creating an editorial board for CNN and establishing other safeguards to protect the network’s editorial independence, with those internal talks beginning before the antitrust suit was even filed. The company offered a measured response: “We always remain open to internal improvements to journalistic integrity.”
The twin disclosures come as Paramount faces a hard deadline. David Ellison told senior executives he will begin relocating company operations out of California on October 1 if the lawsuit is not settled by September 30, Variety confirmed. That same date triggers $7 million per day in ticking fees owed to WBD shareholders, a clock that keeps running until the deal closes.
Are the Ellisons running out of money?
Major media merget and spending on AI is quite a tab to be running.
Barry Diller to the rescue?