Deal or No Deal? Trump, CNN, and the High-Stakes Battle for Warner Bros
Over the first year of his second presidency, Trump has made little effort to hide his frustration with major news organizations. Journalists he dislikes have been publicly criticized, regulators have been pressured, and broadcast licenses have repeatedly been brought into question. So when Netflix announced its massive $82.7 billion plan to acquire Warner Bros Discovery, many expected the president to stay out of it. Instead, Trump openly said he would be “involved” in reviewing the deal, a comment that immediately raised eyebrows across Washington.
Just days later, the situation escalated. Paramount Skydance, a media giant with close ties to Trump allies, launched a hostile $108 billion all-cash bid for Warner Bros Discovery. Suddenly, what had looked like a straightforward business deal turned into a political chess match. Trump then appeared to contradict himself, first claiming he wasn’t involved, then suggesting he “probably” would be, depending on which companies were bidding.
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The clearest signal came when Trump laid out a condition for his support. Any buyer, he said, should take not just the studios and streaming assets, but also the television networks, and should make “big changes” at CNN. The network, long targeted by Trump, was described by him as being run by people who were “corrupt or incompetent.” That statement alone sent shockwaves through media and regulatory circles.
Experts were quick to point out that this is not how the system is supposed to work. Traditionally, presidents have stayed far away from merger decisions, leaving them to independent regulators and antitrust officials. Former advisers and legal scholars described Trump’s approach as highly unusual, with some saying he clearly relishes the role of deal-maker-in-chief.
Paramount’s bid only deepened the controversy. The company is backed by Larry Ellison, a longtime Trump ally, and financed in part by Jared Kushner’s investment firm. That connection has fueled concerns that political favoritism could influence regulatory outcomes. Democratic lawmakers, including Senator Elizabeth Warren, have openly warned that the process risks becoming a pay-to-play system, where media independence is traded for political approval.
Despite Trump’s confidence, the deal is far from settled. Any merger would still need approval from the Justice Department and could face challenges from state attorneys general, especially in California. Antitrust experts say both the Netflix and Paramount options raise serious competition concerns.
In the end, this fight is about far more than movies or streaming libraries. It is about power, influence, and who gets to shape the news Americans see. Whether Netflix or Paramount wins, one thing is clear: the future of CNN, and perhaps global media itself, is hanging in the balance.
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