Former President Donald Trump has expressed a desire for changes at CNN, which he has publicly criticized. Reports indicate that Trump prefers new ownership and programming adjustments at the network, coinciding with Paramount's $108 billion hostile takeover bid for Warner Bros. Discovery, which includes CNN among its assets. This bid reportedly has the backing of Jared Kushner, Trump's son-in-law.

David Ellison, CEO of Paramount and son of Oracle co-founder Larry Ellison, has communicated to administration officials that significant changes would be implemented at CNN if the acquisition is successful. Following a competitive bidding process where Paramount lost to Netflix for Warner Bros., Larry Ellison warned Trump that the Netflix merger could negatively impact market competition.

Trump has echoed these concerns, suggesting that the merger would create excessive market share, although he did not disclose Kushner's financial interest in the competing bid. David Ellison has stated that Paramount aims to create a new service that prioritizes trust and truth, appealing to a broad segment of the American public.

Despite Trump's longstanding criticism of CNN, Ellison noted that he has had positive discussions with the former president regarding the potential ownership of the network. Trump has consistently targeted CNN and its journalists, labeling them as purveyors of 'fake news' and expressing disdain for their coverage of his administration.

Media analysts suggest that while Trump may influence the acquisition process, he does not hold ultimate decision-making power over the deal. The ongoing dynamics of corporate media ownership and political relationships raise questions about the implications for journalistic integrity and public discourse.

In a related development, Paramount Skydance has launched a hostile takeover bid for Warner Bros. Discovery, offering $30 per share in an all-cash deal. This bid follows Netflix's agreement to acquire Warner Bros. Discovery and its game studios for approximately $83 billion, which has faced scrutiny regarding its potential market dominance. Trump has expressed concerns about the deal, suggesting it may encounter regulatory challenges, raising questions about the separation of powers in corporate governance.

The Paramount bid aims to appeal directly to Warner's shareholders, emphasizing the potential benefits of increased competition and content production in the entertainment industry. Significant financial backing for Paramount's bid includes support from Jared Kushner's investment firm and Saudi Arabia's Public Investment Fund, led by Crown Prince Mohammed bin Salman. This collaboration continues previous high-profile financial partnerships between Kushner and bin Salman, including a recent $55 billion acquisition of Electronic Arts.

Concerns have been raised regarding the implications of foreign investment in U.S. media companies, particularly in light of national security risks associated with such transactions. The involvement of entities like the Saudi Public Investment Fund, which has faced scrutiny for its financial practices, underscores the complexities of corporate acquisitions in the current geopolitical climate. Meanwhile, Netflix remains optimistic about its acquisition, asserting that it will create jobs and benefit consumers, despite competitive pressures from Paramount's bid.