On Wednesday, President Donald Trump declared that CNN must be sold as Warner Bros. Discovery moves toward a $72 billion merger with Netflix and faces a hostile takeover bid from Paramount.
Trump’s Call for a CNN Sale
During a roundtable with business executives at the White House, Trump said, “I think CNN should be sold, because I think the people that are running CNN right now are either corrupt or incompetent,” adding that he did not trust them to run the network.
He followed up, “I don’t think they should be entrusted with running CNN any longer. So I think any deal should — it should be guaranteed and certain that CNN is part of it or sold separately,” and concluded that CNN should be sold along with everything else.
Trump also noted that he might be involved in the decision, saying, “I will be probably involved, maybe involved in the decision. It depends. You have some good companies bidding on it.”
Context: The Netflix Merger and Paramount Bid
Warner Bros. Discovery announced last week that it had agreed to sell its movie, television and streaming assets to Netflix in a $72 billion deal, which rises to more than $82 billion when debt is factored in. The deal follows bids from Paramount, Skydance and Comcast, which owns NBCUniversal.
The Netflix transaction does not include Warner Bros. Discovery’s cable channels, such as CNN and TNT. If the merger receives federal regulatory approval, those channels would become part of a separate public company.
On Sunday, Trump warned that the Netflix deal could be a problem because of the resulting market share. The next day, Paramount launched a hostile bid, offering shareholders $30 per share to acquire Warner Bros. Discovery. That bid is partially backed by funding from Saudi Arabia, Qatar, the United Arab Emirates and Affinity Partners, an investment firm founded by Trump’s son‑in‑law, Jared Kushner.
Trump’s Long‑Standing Rift with CNN
Trump has repeatedly criticized CNN’s coverage. During his first term, the White House revoked the press pass of former CNN correspondent Jim Acosta after Acosta pressed Trump on immigration and on the Mueller probe of the 2016 campaign. After a brief court battle, the White House restored Acosta’s access.
In 2022, Trump filed a defamation lawsuit accusing CNN of slandering him over false claims about the 2020 election. The lawsuit was dismissed less than a year later, and an attempt to revive the case this year was rejected by an appeals court.
At Wednesday’s event, Trump disparaged a CNN reporter who had asked about Pentagon video footage from a second strike on an alleged drug vessel in September. Trump said, “You must be CNN,” adding, “You know you work for the Democrats,” and that the reporter was “basically an arm of the Democrat Party.”
Reactions and Silence
Neither CNN, Paramount, Warner Bros. Discovery, nor Netflix immediately responded to requests for comment Wednesday on Trump’s remarks. The White House did not immediately respond to a request for comment Wednesday.
Key Takeaways
- Trump urges the sale of CNN amid Warner Bros. Discovery’s $72 billion Netflix merger and Paramount’s hostile bid.
- The Netflix deal excludes CNN and TNT, which would become part of a separate public company if approved.
- Trump’s criticism of CNN stems from a history of disputes, including a revoked press pass for Jim Acosta and a dismissed defamation lawsuit.
Trump’s comments highlight the intersection of corporate mergers, media ownership, and political influence, underscoring the contentious relationship between the president and the cable news network.
