CNN fears the end as Netflix clears the way for Paramount

The decision by Netflix to drop its bid for Warner Bros – which clears the way for a takeover by Paramount Skydance and its billionaire owners, the Ellisons – has terrified CNN staff, who believe it sounds the death knell for the world’s first 24-hour news channel.

“After the Washington Post, they’re going to come for CNN,” said one staffer who asked to remain anonymous. “Paramount has put Bari Weiss in charge of CBS News to keep Trump happy and if she takes control at CNN, it’s the end of the network.”

“We are all doomed,” said another. “It’s like a graveyard except everyone is panicking. Trump despises CNN more than any other news organisation and he wanted the Ellisons to buy us to kill us off.”

Weiss, a conservative commentator turned media entrepreneur with no previous television experience, was hired by the Ellisons to appease Trump after their bid to buy Paramount succeeded. Since then, Weiss has shifted coverage to be more supportive of the White House, but has seen ratings dip and has found it hard to entice staff.

Anderson Cooper, presenter of 60 Minutes, refused a lucrative new contract; Wall Street Journal tech columnist Joanna Stern turned down a reported seven-figure offer and Weiss has struggled to find an anchor for CBS Evening News.

Analysts point to the regulatory hurdles ahead for Paramount Skydance, which will take months and may mean that the Ellisons get the keys to the Warner studios long after November’s midterm elections.

“CBS is directly in the firing line because it’s overseen by the Federal Communications Commission,” said Mathew Horsman, founder of Mediatique. “CNN has found its niche as being quite Democrat-leaning and why would you give that up if you’re interested in making money? Fox News is very profitable for the Murdochs.”

The Ellisons have promised $6bn in cost reductions – a figure that Netflix estimates will be closer to $16bn – although much of this will be in the studio business. Staff are also wary of the $24bn of Paramount’s takeover financing that comes from the Middle East, including Saudi Arabia, where journalistic freedom may not be regarded as a priority.

CNN’s audience, like all cable news, is older and loyal, however, and the network has seen double-digit viewing figures increase in 2026 – with the exception of an interview with Timothée Chalamet and Matthew McConaughey last Saturday that drew a mere 453,000 viewers.

Photograph by John Minchillo/AP