Are 'MAGA billionaires' buying CNN? | Snopes.com

• With Netflix announcing an end to its efforts to buy Warner Bros. Discovery in February 2026, Paramount Skydance was in the driver's seat to take over CNN's parent company. However, the deal has to be approved by Warner shareholders and regulators both in the U.S. and abroad and could be a lengthy process.
• Many people consider Paramount head David Ellison to be an ally of U.S. President Donald Trump. Paramount's takeover of CBS News resulted in editorial shifts under Ellison-appointed editor-in-chief Bari Weiss leading to accusations that the network was becoming Trump-friendly. Ellison's father, former Oracle CEO Larry Ellison, also has ties to the U.S. president.
• Trump has criticized CBS News, saying "60 Minutes has actually gotten WORSE!" since Ellison took over.

On Feb. 26, 2026, Netflix announced it was walking away from its bid to buy Warner Bros. Discovery, the parent company of news network CNN — paving the way for Paramount Skydance, led by David Ellison, to take over Warner Bros. Many people online claimed this acquisition would mean greater political influence over CNN by U.S. President Donald Trump, who reportedly has close ties to Ellison.

Several posts claimed Trump-supporting "MAGA billionaires" would be taking over CNN and thus have control over multiple major networks (Ellison's Skydance merged with Paramount, the parent company of CBS, in 2025). Snopes readers also wrote in to ask us whether this was true. One post stated:

With the Ellisons acquiring CNN and CBS they are making the case to be the official state regime propaganda network. Soon the news will be read by state sanctioned and approved right wing nut jobs. Like North Korea and Russia no opposing views will be allowed on the all MAGA all the time CNN.

Netflix walking away from bidding on Warner Bros. did greatly increase the likelihood that Paramount would take it over. But that move would need to be green-lit by Warner regulators and shareholders and was not finalized as of this writing. The Warner Bros. board appeared inclined to support it, stating in a news release that Paramount's bid was a "superior proposal," and CEO David Zaslav said the company was "excited about the potential of a combined Paramount Skydance and Warner Bros. Discovery."

The Ellison family — including David Ellison's father, former Oracle CEO Larry Ellison — is also closely allied with Trump. However, we cannot predict how the acquisition would affect CNN.

The U.S. Department of Justice has also begun reviews of the potential merger. According to CNN's analysis, the deal could take more than a year to finalize with potential resistance from various states, as well as overseas regulators.

If the deal is finalized, Paramount would be in charge of both CBS and CNN, a prospect that reportedly has some employees concerned. One producer anonymously told The Guardian that if CBS News' editor-in-chief Bari Weiss took over CNN it would be "the end of the global network." (Snopes does not rely on anonymous sources and could not independently verify that quote.)

David Ellison appointed Weiss to lead CBS News he bought her outlet The Free Press for $150 million. Some reports alleged she was given that position to appease Trump. Under Paramount's ownership and Weiss' leadership, CBS News made several editorial shifts that were criticized for bowing to Trump's agenda.

CNN CEO Mark Thompson urged employees not to panic about the potential takeover. In an internal note that was subsequently reported on by the media, he said:

Despite all the speculation you've read during this process, I'd suggest that you don't jump to conclusions about the future until we know more. And secondly let's not forget our duty to our audience. We're still near the start of what is already an incredibly newsy year at home and abroad, one that will culminate with critical U.S. midterm elections and who knows what else. Let's continue to focus on delivering the best possible journalism to the millions of people who rely on us all around the world.

Trump did criticize CBS News' show "60 Minutes" over negative coverage of him in December 2025, writing on Truth Social that since David Ellison took over, "60 Minutes has actually gotten WORSE!" In February 2026, Ellison attended the State of the Union address as a guest of Republican Sen. Lindsay Graham of South Carolina.

Snopes has previously covered the claim that CBS would have an FCC-appointed "bias monitor" as part of the Paramount-Skydance merger.