Two of America's most-watched television newsrooms woke up this week under the same corporate roof — and not everyone thinks that is a good thing. With Paramount Skydance's roughly $110bn takeover of Warner Bros. Discovery now complete, CNN and CBS News sit inside a single empire alongside HBO, Showtime, Nickelodeon, DC Studios and the streaming services Paramount+ and HBO Max. The new company trades as Skydance Corporation, and its control of two major US news organisations has triggered some of the sharpest press-freedom warnings in years.
At the centre of the anxiety is not just concentration, but timing and patronage. The deal closed less than a month before the November 3 US midterm elections. David Ellison, Skydance's chairman and chief executive, is a major donor to President Donald Trump — roughly $45m to a political nonprofit backing Trump's 2024 campaign, alongside $16.6m to Friends of the Israel Defense Forces. His father, Oracle cofounder Larry Ellison, is a major financial backer of the deal and has previously donated to Trump. And Trump himself, asked about the takeover on Tuesday, gave it his blessing: "They're terrific people, and it's going to be a great company."
A deal that fought its way through the courts
The takeover did not arrive quietly. Netflix first struck an agreement to buy part of Warner Bros. Discovery, then Paramount launched a competing bid, sparking a bidding war before Netflix walked away. A California-led coalition of 12 state attorneys general sued to block the deal, arguing it would reduce competition and raise prices; the Writers Guild of America brought a separate challenge.
Both cases were settled in September. Paramount agreed to commitments on film production, support for displaced workers and — crucially — protections for the news networks, including the creation of a "News Editorial Independence Board". But critics say the settlement answers the wrong questions. "This merger will stifle creativity, weaken free speech and cost people their jobs," actor and activist Mark Ruffalo has said. Democratic Senator Elizabeth Warren drew a direct line to the administration's media battles: as Trump tries to bar CNN from the White House, she said, "it would be a massive mistake to cave on the Paramount merger."
Can a board appointed by the boss guard the newsroom?
The centrepiece of the settlement is a five-member editorial independence body, to be established within 180 days, composed of active or retired journalists with at least ten years of experience. It is supposed to set editorial principles and arbitrate disputes between the news networks and corporate management.
Critics have torn the design apart. The members will be appointed by — and report to — Skydance's board, which Ellison chairs. There is no requirement to publish its findings. Two members may belong to the same political party. Seth Stern, advocacy chief at the Freedom of the Press Foundation, called it bluntly: "A Paramount-appointed editorial independence board for CNN and CBS is worthless. The fish rots from the head."
Stern went further, arguing the fix could become part of the problem: government enforcement of the settlement itself risks the state meddling in newsroom decisions — "the same First Amendment problems it's supposed to solve". For now, Skydance has moved to calm nerves, announcing that Mark Thompson stays on as CNN's chairman and editor-in-chief while Bari Weiss continues at CBS News, easing fears that Weiss would immediately take charge of both networks.
Why the fear runs deeper than one board
The anxiety is fuelled by what has already happened inside CBS News. After Skydance acquired Paramount in 2025, the network closed CBS News Radio, overhauled flagship investigative programme 60 Minutes, and fired correspondents Sharyn Alfonsi and Cecilia Vega along with 60 Minutes executive producer Tanya Simon. The programme's September season premiere drew about 21 percent fewer viewers than a year earlier. In 2025, Paramount also paid Trump $16m to settle a lawsuit over the editing of a 60 Minutes interview with then-candidate Kamala Harris.
Advocacy groups see a pattern. In a June letter, nine organisations — including Reporters Without Borders and the Freedom of the Press Foundation — warned that CNN could face similar upheaval, describing the takeover as an "existential threat to the free press, independent media, and free speech in this country and beyond." They alleged that CBS changes "fulfil the Ellisons' commitment to President Trump to remake CBS to his liking" — and predicted CNN would be next.
Ellison insists otherwise. "We're going to make sure that CNN and CBS News are completely editorially independent," he said on Tuesday. Sovereign wealth funds from Saudi Arabia, Qatar and the UAE also hold indirect, non-voting financial interests in the combined company, adding another layer of scrutiny over who ultimately underwrites America's news.
The test of Ellison's promise will come fast: a midterm election in under a month, a president openly hostile to CNN, and a news cycle that does not pause for corporate transitions. Independence boards and appointment letters will matter less than what viewers see on screen.
Related reading: Paramount and Warner Bros. Discovery to become 'Skydance' in $110bn mega-merger.
Sources: Al Jazeera · TechCrunch
Frequently Asked Questions
What did the Skydance takeover bring together?
Paramount Skydance's roughly $110bn acquisition of Warner Bros. Discovery united two Hollywood studios, HBO, CBS, Nickelodeon, Showtime, Comedy Central, DC Studios, the Food Network, and streaming services Paramount+ and HBO Max — plus news brands CNN and CBS News.
What is the News Editorial Independence Board?
A five-member body Skydance must establish within 180 days of completing the takeover, made up of experienced journalists to set editorial principles and handle newsroom disputes. Critics note its members are appointed by Skydance's board and its findings need not be published.
Why do critics link the deal to Donald Trump?
David Ellison donated about $45m to a pro-Trump political nonprofit, Larry Ellison backed the deal financially, Trump publicly welcomed the takeover, and the White House has repeatedly attacked CNN — including efforts to bar it from parts of the White House. Senator Elizabeth Warren warned against caving to the merger while Trump tries to restrict CNN's access.
What happened at CBS News after Skydance bought Paramount in 2025?
CBS News Radio was closed, 60 Minutes was overhauled with firings including correspondents Sharyn Alfonsi and Cecilia Vega and executive producer Tanya Simon, and Paramount paid Trump $16m to settle a lawsuit over a 60 Minutes interview — events critics cite as a preview of what could happen at CNN.
