President Donald Trump expressed unhappiness with the owners of Paramount Skydance Corp. over CBS News coverage of his presidency, in the latest signal of how he may be leaning in the battle to purchase Warner Bros. Discovery Inc.
Paramount has been seeking to one-up a friendly offer from Netflix Inc. to purchase the studio and touted its ties to the president.
Paramount chief David Ellison, whose father, Larry Ellison, is a longtime donor and supporter, has pointed to his relationship with Trump to suggest an easier regulatory review. He also recently installed Bari Weiss, an avowedly “anti-woke” political commentator, as the head of CBS News.
But Trump on Tuesday suggested he remained frustrated by his coverage from the Tiffany Network.
“For those people that think I am close with the new owners of CBS, please understand that 60 Minutes has treated me far worse since the so-called “takeover,” than they have ever treated me before,” Trump said in a social media post. “If they are friends, I’d hate to see my enemies!”
Shortly after the president’s post, Affinity Partners, the private equity firm run by presidential son-in-law Jared Kushner, announced it was exiting the takeover battle and its financing support for Paramount’s bid.
Reports also emerged that Warner Bros. was planning to reject the Paramount bid.
The president so far has declined to say which of the bids he favors. But the president did signal earlier this month that he wanted a sale to include new ownership of CNN, the cable news network and longtime foil in the Warner Bros. portfolio.
Securing the president’s approval could prove a critical — albeit historically abnormal — hurdle for a deal. The White House has said that while the president has a respect for both companies, he anticipates being involved in finalizing a purchase and is concerned about market diversification.
US law bars acquisitions or mergers that may “substantially lessen competition or tend to create a monopoly.”
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