CNN has come under new ownership after Paramount Skydance completed its $110 billion acquisition of Warner Bros. Discovery, placing the network under David Ellison-led Skydance amid scrutiny over the Ellison family’s relationship with Donald Trump.
WASHINGTON — CNN has come under new ownership following the completion of Paramount Skydance’s $110 billion acquisition of Warner Bros. Discovery, placing the global news network under the leadership of billionaire David Ellison.
The transaction, completed on Tuesday, creates a new media and entertainment giant known as Skydance, bringing CNN and CBS alongside major entertainment properties including Warner Bros., HBO Max, Paramount+ and the studios behind franchises such as Harry Potter and Mission: Impossible.
Ellison, the son of Oracle co-founder Larry Ellison, will lead the combined company alongside former Mattel chief executive Ynon Kreiz. David Ellison will focus on overall strategy and creative direction, while Kreiz will oversee day-to-day operations.
The change has attracted particular political attention because of the Ellison family’s relationship with U.S. President Donald Trump, who has repeatedly criticised CNN and previously called for new ownership of the network.
Trump’s administration also openly welcomed the prospect of Ellison taking control of CNN during the acquisition process, intensifying scrutiny over whether the change in ownership could affect the network’s editorial independence.
However, CNN’s editorial leadership is not being immediately replaced. Mark Thompson will remain CNN’s chairman and editor-in-chief under the new ownership, with the company saying the network’s commitment to independent journalism will continue.
As part of a settlement that cleared major legal obstacles to the acquisition, Skydance has also agreed to establish a five-member News Editorial Independence Board covering CNN and CBS News.
Critics, however, have questioned how effective the board will be, noting that its members will be appointed by the company’s board and that questions remain over the extent of its enforcement powers.
The acquisition is one of the largest media transactions in history and significantly expands Ellison’s influence across Hollywood, television, streaming and news.
For CNN, the immediate challenge will be to navigate its new corporate ownership while maintaining credibility and editorial independence at a time when media ownership and political influence remain highly contested issues in the United States.
Visit GMTNewsng for more news stories.
