Paramount rejects reports it may sell CNN as pressure builds for concessions in WBD merger dispute
Europe/London By Robert Briel

Paramount is pushing back firmly against reports that CEO David Ellison is willing to sell CNN as part of efforts to resolve the legal battle surrounding the company’s proposed acquisition of Warner Bros. Discovery.

A source with direct knowledge of the situation told TheWrap that there is “zero truth” to the idea that Ellison is prepared to divest the cable news network in connection with the $110 billion transaction.

“CNN is not for sale,” the source said, stressing that the network is not being considered as a bargaining chip in negotiations with regulators or state attorneys general.

The denial follows comments made earlier this week by Paramount chief legal officer Makan Delrahim at Politico’s California Agenda conference. When asked whether Paramount would consider selling CNN if doing so allowed the merger to move forward, Delrahim responded that “everything is on the table.” His remarks prompted headlines suggesting that a sale could be an option, and Reuters reported that divesting CNN was among the scenarios the company might explore.

CNN’s chief media analyst Brian Stelter, who first reported the pushback on Thursday, clarified that Delrahim’s comments were intended to signal Paramount’s willingness to negotiate with California Attorney General Rob Bonta — not to indicate that Ellison is preparing to offload CNN. “He was saying, basically, ‘we’re willing to talk,’” Stelter wrote.

California and eleven other states have sued to block Paramount’s acquisition of Warner Bros. Discovery on antitrust grounds, creating the most significant remaining obstacle to completing the deal. The lawsuit has also intensified scrutiny of CNN’s future role within the combined company, which would unite Warner Bros. Discovery’s cable networks, studios and streaming assets with Paramount’s entertainment businesses.

CNN has become a focal point in the debate. Ellison has argued that some opposition to the merger stems from concerns about his stewardship of the network, while Paramount has explored measures to safeguard CNN’s editorial independence under the new ownership structure. Delrahim also said this week that Ellison wants to “bring CNN back to news” once the acquisition closes.

Paramount’s latest statement makes clear that, despite industry speculation and political pressure, the company is not considering selling CNN as part of its strategy to secure approval for the Warner Bros. Discovery merger.