President Donald Trump has publicly praised the completed merger between Skydance and Warner Bros. Discovery, while CEO David Ellison pledges editorial independence for CNN.
Key facts
- •The $110 billion merger between Skydance and Warner Bros. Discovery officially closed on Tuesday.
- •A court-approved settlement requires Skydance to form an independent review board for CNN and CBS News.
- •CEO David Ellison has appointed CNN CEO Mark Thompson to remain in his current role for the time being.
- •David Ellison previously wrote an op-ed stating that the antitrust litigation against the merger was politically motivated.
- •Larry Ellison serves on the President’s Council of Advisors on Science and Technology alongside executives like Mark Zuckerberg and Jensen Huang.
President Donald Trump expressed approval of the $110 billion merger between Skydance and Warner Bros. Discovery on Tuesday, the day the deal officially closed. Speaking to reporters at the White House, Trump described the new entity, Skydance Corp., as a “great company” and characterized the leadership as “terrific people.” The acquisition follows a lengthy regulatory process that concluded after the company reached a settlement with 12 state attorneys general to resolve an antitrust lawsuit.
By the numbers
Regulatory Approval and Legal Challenges
The merger was approved by the Department of Justice in June without conditions. The deal faced a final hurdle through litigation from 12 Democratic state attorneys general, who sought to block the takeover. A judge approved a settlement on September 30, which requires the new company to establish an independent review board to oversee standards and principles at CNN and CBS News.
Leadership Pledges on Editorial Independence
Following the closure of the deal, Skydance CEO David Ellison addressed employee concerns regarding the future of CNN and CBS News. In a town hall interview with CNN anchor Anderson Cooper, Ellison stated that he believes in journalism and considers the networks a vital part of democracy. He pledged that CNN would maintain “complete editorial independence” and stated he would shield the network from political interference. Ellison also noted his support for a lawsuit filed by CNN and other outlets challenging a White House ban on their reporters.
Connections Between Trump and the Ellisons
The relationship between the Trump administration and the Ellison family has been a subject of public interest throughout the merger process. Larry Ellison, David’s father, was appointed by Trump to the President’s Council of Advisors on Science and Technology in March. David Ellison has also maintained high-profile ties to the administration, having attended a State of the Union address as a guest of Senator Lindsey Graham and participating in a White House State Dinner for President Xi Jinping.
Timeline
- MarchLarry Ellison was appointed to the President’s Council of Advisors on Science and Technology.
- JuneThe Department of Justice approved the merger without conditions.
- August 4David Ellison published an op-ed in The New York Times addressing concerns over his stewardship of CNN.
- September 30A judge approved the settlement between Skydance and state attorneys general.
- TuesdayThe merger officially closed and Skydance Corp. held a companywide town hall.
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