The acquisition was finalized on Tuesday, October 6, 2026, when Skydance-owned Paramount closed its massive $110 billion buyout of CNN’s former parent company, Warner Bros. Discovery. This mega-merger significantly reshapes the American media landscape by bringing two fierce news rivals—CNN and CBS News—under the same corporate roof.
Skydance CEO David Ellison confirmed that Mark Thompson will remain at the helm as CNN's editor-in-chief. CNN's news operations will remain separate from CBS News, where Bari Weiss continues to serve as editor-in-chief. To settle antitrust concerns and lawsuits brought by 12 state attorneys general, the company agreed to establish an independent five-person news editorial board. This board is designed to establish and protect journalism principles to prevent editorial bias or skewed coverage across both news networks.
David Ellison is highly respected and heavily supported within the mainstream Jewish and Israeli worlds, frequently recognized for his proactive pro-Israel stances. The Jerusalem Post featured him on its list of the world's most influential Jews, and the pro-Israel publication The Algemeiner named him among the top 100 people positively influencing Jewish life.
Ellison’s professional philosophy emphasizes using media to preserve Jewish historical memory, combatting anti-Israel boycotts, and positioning his platforms to project a strong pro-Israel stance. While he has described himself as "not a political person," his execution of the Paramount-Skydance merger and subsequent actions highlight a clear ideological direction.
Under Ellison's leadership, Paramount distinguished itself as the only major American studio to publicly rebuke an open-letter petition circulated by prominent celebrities calling for a boycott of Israeli film institutions.
He has utilized Paramount's platforms to distribute multiple documentaries highlighting Israeli narratives and survival following the October 7 attacks (such as Red Alert and We Will Dance Again). He stated that Paramount's mission is "to tell stories that last forever" and to remember both the atrocities and stories of survival.
Ellison has placed prominent Jewish and Israeli figures into key executive positions. He appointed pro-Israel media commentator Bari Weiss as the editor-in-chief of CBS News and named Israeli-American businessman Ynon Kreiz (former CEO of Mattel) as co-CEO of the newly merged Skydance entity.
His philosophy is closely aligned with his father, Oracle co-founder Larry Ellison, who is one of Israel's largest private US donors and a close friend of Benjamin Netanyahu. When critics (such as actor Mark Ruffalo) opposed the family's media expansion by criticizing their ties to Israel, Paramount executives forcefully pushed back, suggesting that some elements of the opposition were fueled by antisemitic tropes.
