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Takeover bid of parent company means limbo for CNN, some fellow cable networks
Paramount Skydance’s hostile bid creates uncertainty for CNN and sister networks amid streaming growth and planned spinoffs; ratings have fallen, CNN is now third behind Fox News and MSNBC.
- On Monday, Paramount Skydance launched a hostile takeover bid for Warner Bros. Discovery, placing CNN and its sister cable networks into an extended period of management limbo.
- Last Friday, Netflix announced it would buy Warner Bros. Discovery's studio and streaming businesses but excluded CNN, which Warner had planned to spin off with Discovery, HGTV, Food Network, and TLC as streaming growth made cable less attractive.
- Paramount's proposal would combine CNN and CBS News if successful, David Ellison said 'yeah' on Monday; the takeover needs shareholder and regulator approval and could be favored by President Donald Trump due to ties with David Ellison and Larry Ellison.
- The uncertainty has compounded challenges at CNN, where ratings have fallen to third behind Fox News Channel and MS NOW, while CEO Mark Thompson advances a digital subscription with a 2026 budget.
- CNN is not likely to find out soon who its new owners would be, experts warn the Netflix deal faces over a year of regulatory hurdles, and emarketer.com senior analyst Ross Benes predicts Discovery Global may be shopped to other buyers.
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Associated Press News+33 Reposted by 33 other sources
Takeover bid of parent company means limbo for CNN and some fellow cable networks
It's a tough time for CNN, which looks like it will be in management limbo for some time with Paramount Skydance's hostile takeover bid of its parent company, Warner Bros.
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Total News Sources37
Leaning Left13Leaning Right2Center21Last UpdatedBias Distribution58% Center
Bias Distribution
- 58% of the sources are Center
58% Center
L 36%
C 58%
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