Ellison willing to sell CNN to save $111B deal, but lawsuit unaffected

Published Aug 13, 03:00 PM UTC

Paramount Skydance CEO David Ellison, facing a Sept. 30 deadline and a $7 million daily ticking fee, is now willing to sell CNN as a concession to save his $111 billion acquisition of Warner Bros. Discovery. However, the sale would not resolve the antitrust lawsuit filed by 12 Democratic state attorneys general, which focuses on the combined company's control of roughly a third of theatrical film distribution and basic cable channels, not CNN. Paramount Chief Legal Officer Makan Delrahim confirmed the CNN sale is 'on the table' to blunt political pressure, but the lawsuit, scheduled for trial on March 2, 2027, remains unaffected. The merger agreement includes a ticking fee of 25 cents per share per quarter after Sept. 30, and a $7 billion breakup fee if the deal fails by June 4, 2027.