"Our public offer, which is on the same terms we provided to the Warner Bros. Discovery Board of Directors in private, provides superior value, and a more certain and quicker path to completion. We believe the WBD Board of Directors is pursuing an inferior proposal which exposes shareholders to a mix of cash and stock, an uncertain future trading value of the Global Networks linear cable business and a challenging regulatory approval process, continued Ellison."
"During a visit to Washington in recent days, David Ellison offered assurances to Trump administration officials that if he bought Warner, he'd make sweeping changes to CNN, a common target of President Trump's ire, people familiar with the matter said. Trump has told people close to him that he wants new ownership of CNN as well as changes to CNN programming, added the Journal story."
David Ellison, CEO of Paramount Skydance, told Trump administration officials he would implement sweeping changes at CNN if he acquires Warner Bros. Discovery. Paramount announced a hostile takeover bid after Warner Bros. accepted an offer from Netflix. Ellison said the company's public all-cash offer provides superior value and a quicker, more certain path to completion, and urged shareholders to consider it. Larry Ellison called President Trump to argue the Netflix transaction would hurt competition. Trump has expressed desire for new CNN ownership and programming changes and has long regarded CNN as an enemy.
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