A significant bidding war has ended with MAGA-aligned billionaires Larry and David Ellison winning the rights to acquire Warner Bros. Discovery, the parent company of CNN. They have outbid Netflix, intending to influence CNN's direction.
• David Ellison attended Donald Trump's State of the Union address, emphasizing the Ellisons' connection to Trump and the MAGA movement.
• Paramount Skydance, the Ellisons' company, increased its offer for Warner Bros. Discovery from $30 to $31 per share, deemed superior to Netflix's bid.
• Netflix announced it would not match the Ellisons’ offer, stating that the deal was no longer financially appealing.
• Once the acquisition is finalized, Bari Weiss is expected to lead CNN, raising concerns given the challenges she faced at CBS News.
• The Ellison family, known for their political ties, plans to implement changes at CNN, which Trump has criticized in the past.
• The acquisition could significantly affect the media landscape, as the Ellisons will also control CBS and HBO among other subsidiaries.
The Ellisons’ victory in acquiring Warner Bros. Discovery marks a major shift in CNN's future, with potential implications for its editorial direction and alignment with MAGA principles.
https://www.thedailybeast.com/maga-billionaires-win-battle-to-buy-cnn-and-turn-it-trumpy/
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