"There was some relief at CNN with last Friday's announcement that Netflix was buying Warner's studio and streaming businesses, since the cable network would not be a part of that deal. But that quickly changed on Monday with Paramount's announced bid, which includes the cable assets that Netflix doesn't want and, if successful, opens the possibility of a combined CNN and CBS News."
""That era might as well be the roaring '20s for how long ago it feels," said Ross Benes, senior analyst at emarketer.com. The dueling bids between Paramount and Netflix now "lead to more uncertainty and greater anxiety among the current CNN staff and among those of us who served for many years as leaders of CNN under Ted," said Tom Johnson, former CNN president in the 1990s."
Paramount Skydance launched a hostile takeover bid for Warner Bros. Discovery that includes cable assets such as CNN, creating immediate management limbo. Netflix agreed to buy Warner's studio and streaming businesses but excluded cable networks. Paramount's bid raises the prospect of merging CNN with CBS News and amplifies uncertainty for current leaders and long-serving staff. Warner had planned to spin off cable networks because streaming growth weakened cable economics. The takeover possibility intersects with political ties between Paramount leadership and the Ellison family and follows recent tensions over news coverage. CNN's ratings have fallen to third place behind Fox News Channel and MSNBC.
Read at Fast Company
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