Trust in the Spotlight

David Ellison, the chairman of Paramount, is facing a tough battle over his proposed $111-billion purchase of Warner Bros. Discovery. The main concern is whether he can be trusted to control CNN, a major news outlet. Ellison believes this is the real issue, not market share. He points out that regulators worldwide have approved the deal, but it's been temporarily blocked by an antitrust lawsuit brought by California Atty. Gen. Rob Bonta and his coalition of Democrat state attorneys general.

Ellison acknowledges that his family's close association with President Trump has damaged his reputation in Hollywood and beyond. This has led to shakeups at CBS News, including the departure of late-night host Stephen Colbert. Many in the entertainment industry are worried that the merger will result in thousands of layoffs and a bleaker employment picture. Ellison's previous takeover of Paramount resulted in the loss of 2,000 jobs.

Some have expressed concerns that one family shouldn't control two significant news operations: CBS News and CNN. Ellison responds by saying he has voted for candidates from both parties and holds views that are both conservative and liberal. He emphasizes that news should be based on facts and truth, and that great news organizations like CNN and CBS News should remain independent.

Ellison references the founding principles of CNN and CBS News, which prioritize independence and a commitment to telling the truth. He argues that this is exactly what has fueled the greatness of '60 Minutes.' However, some journalists have complained that since Bari Weiss became editor-in-chief of CBS News, there's been pressure to tilt the presentation of controversial news events. Paramount has pushed back against these claims, saying the plaintiff states have defined markets that fail to account for the rise of technology companies like Netflix and Amazon Studios.