Ellison considers selling CNN to save $111 bln WBD acquisition

Published Aug 13, 03:00 PM UTC

Paramount Skydance CEO David Ellison is considering selling CNN as a concession to save his $111 billion acquisition of Warner Bros. Discovery (WBD), facing a September 30 deadline after which a $7 million daily ticking fee begins. However, the sale would not resolve the antitrust lawsuit filed by 12 Democratic state attorneys general, which targets 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 analysts and experts note the suit is unrelated to the news network. The merger agreement includes a ticking fee of 25 cents per share per quarter to WBD shareholders after Sept. 30, and a $7 billion breakup fee if the deal fails by June 4, 2027. Trial is set for March 2, 2027.