"The news that Netflix struck a bid to take over movie powerhouse Warner Bros. earlier this month likely horrified entertainment workers: Two Goliaths of the industry combining is no good for pay, job security, nor creativity. Workers at CNN, one Warner-owned product, though, had reason to rejoice. The Netflix deal doesn't encompass CNN, unlike the proposition floated by Paramount to take over the entirety of the parent company's subsidiaries."
"Days after the Netflix deal, Paramount announced it was launching a hostile takeover bid, appealing directly to Warner Bros. shareholders to overturn the decision of the company's board. That bid, if it is successful, would put CNN in the hands of Paramount's new owner, failed actor and son of a centibillionaire David Ellison, who has spent the last several months remaking CBS News in Donald Trump's image."
Netflix made a bid to take over Warner Bros., prompting concern that industry consolidation harms pay, job security, and creativity. The Netflix offer excluded CNN, but Paramount launched a hostile bid to acquire Warner's parent and its subsidiaries. Paramount's potential new owner, David Ellison, has reshaped CBS News toward pro‑Trump positions, scrapped diversity, equity, and inclusion initiatives, and installed right‑wing editor Bari Weiss. CNN previously partnered with a gambling app enabling bets on ethnic cleansing in Gaza. A Paramount takeover could place CNN under Ellison's control and risk sweeping editorial and staffing changes aligned with right‑wing interests.
Read at Truthout
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