On May 7, 2026, Freedom of the Press Foundation and Reporters Without Borders, both shareholders in Paramount Skydance, sent the company a letter demanding internal records under Delaware law. The letter said media reports create a “credible concern that Paramount leadership has offered, solicited, or effectuated a corrupt exchange: more favorable coverage of the Trump administration and its allies in exchange for favorable treatment by Trump administration antitrust and media regulators.” Among the reported conduct the groups listed: “Promising to make 'sweeping' changes to CNN, and to potentially fire anchors and commentators whom Trump dislikes.” Paramount declined to comment on the letter.
The CNN allegation rests on a November 20, 2025 report by The Guardian, based on anonymous people familiar with the matter. It said Larry Ellison, Paramount's largest shareholder and the father of CEO David Ellison, “in at least one phone call engaged in a dialogue about possibly axing some of the CNN hosts whom Donald Trump is said to loathe, including Erin Burnett and Brianna Keilar” with a White House official. The call “was characterized as informal since Ellison does not have a formal role at Paramount.” The White House and CNN declined to comment, and Ellison, Oracle and Paramount did not respond. Citing that story, the groups' letter said: “Ellison reportedly raised the possibility that Paramount would include CNN in the purchase, then implement the CBS playbook: transforming CNN's programming and firing anchors and commentators Trump dislikes.” No document showing a promise has been made public; the groups' demand is meant to find out. “We need to know what the Ellisons may have promised the president to secure these deals,” said Clayton Weimers of Reporters Without Borders.
CNN belongs to Warner Bros. Discovery, which Paramount is acquiring in a $111 billion deal that still needs regulatory approval. “President Trump favors the deal; he has long agitated for changes at CNN,” the Los Angeles Times reported. The Guardian reported that the main review was likely to be a Justice Department antitrust one; FCC Chair Brendan Carr told it, “I'd be very surprised if there was an FCC role at all in that type of transaction.” The “CBS playbook” refers to changes at CBS News after the Ellisons took over Paramount, where Bari Weiss became editor in chief and departures followed, including Anderson Cooper and longtime 60 Minutes executive producer Bill Owens. Trump has repeatedly called CNN “fake news.”
Update (October 2, 2026): In July 2026, attorneys from Freedom of the Press Foundation and the Public Integrity Project brought a shareholder derivative lawsuit against Paramount officers and directors, including David Ellison, seeking to halt the Warner Bros. Discovery acquisition. The complaint cites “reported promises from Ellison and his centibillionaire father Larry to similarly overhaul CNN.”
Correction (October 2, 2026): This entry previously said Larry Ellison “promised Trump” he would implement a “CBS playbook” at CNN in exchange for approval of the deal, and dated the groups' letter to May 8. The underlying report (The Guardian, November 20, 2025, anonymous sources) says Ellison discussed possibly axing CNN hosts in an informal call with a White House official. The groups' letter, sent May 7, cites that report, and “CBS playbook” is the groups' phrase. The entry also named FCC station licenses as leverage, but Carr told the Guardian he expected no FCC role. The title, summary and date (now May 7) have been corrected. Claims about separate FCC actions against Disney, ABC and CBS and a Trump “seditious” remark were removed because this entry's sources do not document them.