Topline<\/p>\n
Paramount Skydance CEO David Ellison on Tuesday argued an antitrust lawsuit seeking to end his firm\u2019s takeover of Warner Bros. Discovery is because of his politics and pending ownership of CNN, after Paramount agreed to push back its deal to 2027 following a legal challenge by a dozen states.<\/p>\n
Paramount Skydance said it would push back its merger until 2027. <\/p>\n
Variety via Getty ImagesKey Facts<\/p>\n
\u201cI believe this fight is not really about market share,\u201d Ellison wrote in an op-ed<\/a> for The New York Times, adding, \u201cThe issue is whether I can be trusted as a steward of Warner\u2019s CNN.\u201d<\/p>\n Earlier this month, Paramount agreed<\/a> to push back its merger with Warner Bros. to next year or until a judge decides an antitrust lawsuit filed by 12 states, which argued the deal would result in \u201chigher prices, lower quality and less content for film and television.\u201d<\/p>\n Ellison said there has been \u201cspeculation about my politics, my loyalties, my intentions,\u201d and while \u201cI can\u2019t give anyone a view into my heart and mind,\u201d Ellison noted he has \u201cregularly\u201d voted for candidates of both parties and that he holds views \u201cthat would be called conservative and others that would be called liberal, just like most Americans.\u201d<\/p>\n \u201cOur journalists will continue to answer to the facts and to all the people they serve\u2014not to any party or cause,\u201d Ellison continued.<\/p>\n tangent<\/p>\n While the antitrust lawsuit does not directly cite concerns about Ellison\u2019s politics, a group of Democratic Senators called on<\/a> the Federal Communications Commission to scrutinize the deal over concerns about substantial investments from the Saudi Public Investment Fund, the Qatar Investment Authority and an Abu Dhabi sovereign wealth fund. The Senators questioned whether state-backed investors from countries \u201chostile to a free press\u201d should finance the owner of CNN and CBS News, arguing the ownership structure could create indirect pressure over newsroom independence.<\/p>\n surprising fact<\/p>\n David Ellison\u2019s father, Larry Ellison, backed President Donald Trump\u2019s 2024 reelection and has since established close ties to the Trump administration. Larry Ellison\u2014the Oracle chairman whose wealth is estimated at $181 billion, the seventh-largest fortune in the world\u2014appeared alongside Trump at the White House to announce a multibillion-dollar AI infrastructure project last year, in which Oracle is a key participant. David Ellison reportedly<\/a> hosted Trump and other Trump administration officials at a private dinner earlier this year as Paramount sought federal approval in its deal, with CBS News editor-in-chief Bari Weiss joining David Ellison at Trump\u2019s table.<\/p>\n big number<\/p>\n More than $1.9 billion. That\u2019s how much Paramount agreed to pay in ticking fees if its deal for Warner Bros. drags on until June 2027.<\/p>\n key background<\/p>\n Paramount\u2019s $110 billion deal for Warner Bros. suffered a major blow last month after a federal judge temporarily blocked the acquisition, writing that states raised \u201cserious questions\u201d about whether the transaction violated antitrust law. Judge Araceli Martinez-Olguin signaled she was skeptical about the deal, saying the antitrust lawsuit made a \u201cstrong showing that the transaction will substantially lessen competition.\u201d Paramount, in response to the ruling, said it was \u201cgrateful\u201d for how quickly a judge issued an order in the case, writing it was \u201cconfident the evidence will demonstrate\u201d the lawsuit\u2019s arguments are \u201cwithout merit.\u201d<\/p>\n