President Donald Trump has publicly criticized CNN and expressed a desire for changes at the network, coinciding with Paramount's $108 billion hostile takeover bid for Warner Bros. Discovery, which includes CNN among its assets. This bid is reportedly backed by Jared Kushner, Trump's son-in-law. David Ellison, CEO of Paramount and son of Oracle co-founder Larry Ellison, has indicated that significant changes would be made to CNN if the acquisition is successful.

The competitive landscape intensified when Paramount's bid followed Netflix's agreement to acquire Warner Bros. Discovery for approximately $83 billion, raising concerns about market dominance. Trump has voiced apprehensions regarding the regulatory challenges that the Netflix deal may face, suggesting that it could lead to excessive market share. Notably, he did not disclose Kushner's financial interest in the competing bid.

Ellison has stated that Paramount aims to establish 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 reported having positive discussions with him about the potential ownership of the network. Media analysts have noted that while Trump may influence the acquisition process, he does not possess ultimate decision-making power over the deal.

The financial backing for Paramount's bid includes support from Kushner's investment firm and Saudi Arabia's Public Investment Fund, led by Crown Prince Mohammed bin Salman. This collaboration highlights ongoing high-profile financial partnerships and raises concerns about foreign investment in U.S. media companies, particularly regarding national security risks associated with such transactions.

As the dynamics of corporate media ownership evolve, questions about the implications for journalistic integrity and public discourse remain at the forefront of discussions surrounding these acquisitions.