Getting the venerable cable news channel under new ownership was the driving issue for President Trump, leaving staff to wonder what comes next.
have been grappling with these past few months was that the venerable cable news channel, Ted Turner’s greatest invention, was about to undergo radical change, whoever won the battle for parent company If Netflix won, CNN would be spun out into a debt-laden public company, which was widely expected to slash costs and consider a fire sale of its assets .
with a mandate for change. Weiss and Ellison are both said to be obsessed with the fact that consumers, regardless of political affiliation, are losing trust in the mainstream media.CBS News staff last month. “We can blame demographics or technology or fractured attention spans or ‘news avoidance,’ but these are all copes.” While the execution of that plan remains in flux, Weiss has sought journalists that put themselves at the center of the story, taking a cue from creators and influencers on TikTok and YouTube, while also bringing more right-leaning voices into segments. Or as David Ellison told Paramount shareholders earlier this week: “As part of this revitalization, we are focused on expanding the range of stories covered and the voices amplified.” Assuming the Paramount deal goes through, that change is coming for CNN. Weiss is widely expected to expand her remit, though she may not be alone: It has not been lost on some at CNN that their former colleague Chris Wallace has quietly joined RedBird Capital Partners, which is Ellison’s financial and operating partner at Paramount, as a senior advisor. Wallace , who most recently hosted a CNN interview show, previously served as a longtime anchor and analyst for Fox News, and also moderated NBC’seditor Graydon Carter) to help advise its investments. And of course Jeff Zucker, CNN’s former president, is also working with RedBird as an operating partner and the CEO of its RedBird IMI joint venture. For CNN staff, the angst is driven by a seemingly never-ending barrage of owners, from AT&T to Discovery to Paramount, with each change followed by new cost cutting. And it is also driven by comments from the President of the United States, who has made it crystal clear that his primary interest in the sale of WBD is who will control CNN. “I think the people that have run CNN for the last long period of time are a disgrace. I think it’s imperative that CNN be sold,” President Donald Trump told reporters in December.to make significant changes at the channel, though the specifics of those promises are not known. That being said, CNN is a substantially stronger business than CBS News, despite neither outlet dominating the ratings charts. WBD disclosed as part of the sale process that CNN isto have $1.8 billion in revenue in 2026, rising to $1.9 billion in 2027, $2 billion in 2028 and $2.2 billion by 2030. CNN’s adjusted EBITDA in 2026 is estimated to be about $600 million, before falling to $500 million in 2027 and remaining flat at $600 million through 2030. CBS News has substantially lower revenue than that, though it isn’t exactly an apples-to-apples comparison, with CNN scoring dedicated pay-TV carriage fees, with CBS News sharing those fees with the rest of CBS. Sources have pegged CBS News at around break even or with a slight low to mid eight figure loss . CBS News and CNN had actually discussed a potential merger years ago, multiple sources say, when CNN was owned by Time Warner. Those talks were driven by a desire to save costs. A source says that the negotiations fell apart when the complexities of merging the unionized CBS and the non-union CNN became clear. It will be Paramount’s problem now. But Weiss has had a hard time assuaging CBS staff that her desire is driven by a sincere desire to pull the network news division into the 21st century, rather than being a political project for the company’s owner. Anderson Cooper chose to leave CBS’while staying with CNN, and what he does if and when this deal closes is sure to be closely watched. And while WBD CEO David Zaslav genuinely enjoys news coverage , Ellison appears to be more squarely focused on the entertainment business. Or as one TV news veteran said, most media executives “don’t see as an opportunity, they see it as a problem.” It’s a setup that has CNN staff understandably on edge, as CNN CEO Mark Thompson seemed to recognize in a note to staff Thursday evening. “I want to end this note with two thoughts: “Despite all the speculation you’ve read during this process, I’d suggest that you don’t jump to conclusions about the future until we know more,” he wrote. “And secondly let’s not forget our duty to our audience. We’re still near the start of what is already an incredibly newsy year at home and abroad, one that will culminate with critical U.S. midterm elections and who knows what else. Let’s continue to focus on delivering the best possible journalism to the millions of people who rely on us all around the world.” As Thompson notes, CNN needs to focus on the midterm elections as its employee base grapples with what the next steps will be. Pending deals are always a drag on morale, and in the media business that can sometimes be seen onscreen. Or as Jake Tapper told CNN viewers in a “Breaking News” alert Thursday evening: “We have some breaking news in our national lead that affects everybody I’m looking at right now in the studio.” CNN is about to be changed, but exactly how remain obscured for the time being. In the meantime, tension appears poised to rule the day.Abid RahmanThe Hollywood Reporter is a part of Penske Media Corporation. © 2026 The Hollywood Reporter, LLC. All Rights Reserved.
United States Latest News, United States Headlines
Similar News:You can also read news stories similar to this one that we have collected from other news sources.
Warner Bros. Discovery Declares Paramount's Offer for Paramount Superior to Netflix'sWarner Bros. Discovery has shifted its position in the battle for Paramount, deeming Paramount's latest takeover bid superior to the agreement it had with Netflix. The move sets the stage for a potential bidding war, with Netflix having four business days to respond.
Read more »
Warner Bros. Discovery considera superior la oferta de compra de Paramount que acuerdo con NetflixWarner Bros. Discovery ha determinado que la más reciente oferta de adquisición por parte de Paramount es superior al acuerdo de streaming y de estudio que había alcanzado con Netflix,
Read more »
Netflix Drops Out of Warner Bros. Discovery Bid, Clearing Way for Paramount Skydance MergerNetflix has withdrawn from the bidding war for Warner Bros. Discovery, allowing Paramount Skydance's offer to proceed and potentially creating a massive media merger. The move highlights the changing landscape of the entertainment industry and the strategic financial choices companies are making.
Read more »
Netflix declines to raise offer to buy Warner Bros., says deal is ‘no longer financially attractive’Unlike Netflix’s bid, Paramount wants all of Warner’s operations, including networks like CNN and Discovery. That would put CNN under the same roof as Paramount’s CBS and combine two of Hollywood’s last five remaining studios.
Read more »
Netflix Steps Back from Warner Bros. Deal, Putting CNN in Paramount’s SightsNetflix says a higher bid for Warner Bros. Discovery is no longer attractive, opening the door for a Paramount takeover.
Read more »
What does the Paramount-WBD merger mean for CNN?Viewers and readers of CNN might be wondering the same thing that CNN employees are asking right now: What will Paramount’s ownership mean?
Read more »