Paramount chairman Larry Ellison allegedly promised President Donald Trump he would fire CNN anchors the president disliked if regulators approved Paramount’s $111 billion takeover of Warner Bros. Discovery, according to a newly surfaced legal letter.
Allegations by Press Freedom Groups
The explosive allegation was made by the Freedom of the Press Foundation and Reporters Without Borders, two press freedom groups that own shares in Paramount Skydance. In a 19-page demand sent to Paramount’s chief legal officer Makan Delrahim, the groups said they had a 'credible concern' that company leaders may have offered political favors to Trump in exchange for favorable treatment from federal regulators.
Details of the Alleged Deal
The letter cites reports that Ellison discussed plans with White House officials to include CNN in the Warner deal and then 'implement the CBS playbook' by making sweeping staffing and editorial changes at the network. That allegedly included removing anchors and commentators Trump does not like. Trump has long attacked CNN as 'fake news' and has repeatedly said the network should be sold or 'turned off.'
Potential Legal Consequences
The groups allege Paramount may have offered 'more favorable coverage of the Trump administration and its allies in exchange for favorable treatment by Trump administration antitrust and media regulators.' If true, they say the arrangement could constitute a breach of fiduciary duty and expose Paramount to civil and criminal penalties under bribery and anti-corruption laws.
Regulatory Hurdles
Warner Bros. Discovery shareholders approved the takeover last month, leaving antitrust and Federal Communications Commission approval as the principal remaining hurdles to the deal getting the green light.
Previous Controversies
The letter also revisits Paramount’s controversial July 2025 settlement of Trump’s lawsuit over a 60 Minutes interview with former Vice President Kamala Harris. Paramount agreed to pay $16 million to a foundation intended for Trump’s future presidential library, even as some executives reportedly worried the payment could be construed as a bribe.
The groups also cited Trump’s claim that he struck a separate 'side deal' directly with David Ellison under which Paramount would provide an additional $15 million to $20 million worth of advertising supporting causes important to him.
Changes at CBS News
According to the filing, Paramount has already made sweeping changes at CBS News that appear designed to appease Trump and his allies. Those moves include appointing a conservative ombudsman to monitor alleged bias, acquiring The Free Press for $150 million, and naming founder Bari Weiss as editor-in-chief of CBS News. The groups say those decisions damaged CBS’s brand and shareholder value, noting that Paramount’s stock price fell from $19.13 in October 2025 to $10.80 in May 2026.
Other Concerns
The letter also questions Paramount’s $7.7 billion deal for domestic broadcasting rights to Ultimate Fighting Championship, whose CEO Dana White is one of Trump’s closest allies. In addition, the groups raised concerns about foreign investment in the Warner deal after Paramount disclosed that post-merger indirect foreign ownership could reach approximately 49.5 percent.
Demand for Records
The two organizations are demanding board minutes, emails, text messages, and communications with government officials related to the Trump settlement, the Warner acquisition, and any internal plans for CNN. Under Delaware law, Paramount has five business days to respond to the records request. If it refuses, the groups say they are prepared to sue in Delaware court and seek attorneys’ fees.
Clayton Weimers, executive director of Reporters Without Borders North America, told the Daily Mail that the group is concerned that the Trump administration has 'clearly and publicly put its thumb on the scales in favor of Paramount,' suggesting it expects the company's new leadership to be politically favorable to the White House. Weimers said one of the organization's 'biggest concerns' is CNN, which he described as a frequent target of Trump's attacks. 'We've already seen how David Ellison compromised the editorial independence at CBS News since taking it over,' Weimers said. He added that large media mergers can harm press freedom by leading to layoffs and reducing the diversity of viewpoints in the marketplace.
Paramount did not immediately respond to a request for comment. Daily Mail has also contacted Larry Ellison, The White House, and the Freedom of the Press Foundation for further comment.
