Paramount Skydance is keeping all options open, including a possible sale of CNN, as the company seeks ways to resolve California’s antitrust suit over its $110 billion merger with Warner Bros. Discovery.
Makan Delrahim, the chief legal officer of Paramount Skydance, recently attended Politico’s California Agenda conference on Tuesday (via Reuters). During the event, he stated that the possible sale of CNN is “on the table” as the company faces opposition from California and 11 other states.
Why is Paramount considering a sale of CNN?
Paramount Skydance is keeping the option to sell CNN open in hopes of resolving California’s ongoing antitrust lawsuit against the company’s proposed acquisition of Warner Bros. Discovery. California Attorney General Rob Bonta is leading 11 other state AGs in challenging the merger.
The lawsuit argues that if the merger goes through, it would “create a media behemoth.” The states said, “After this merger, for every dollar generated by wide-release theatrical films and basic cable channels in this country, the combined company will pocket more than a quarter.” Paramount Skydance might be considering a potential sale of CNN to expedite a resolution.
On August 4, 2026, a federal judge set the dates for the antitrust trial related to the proposed Paramount-WBD merger as March 2 to March 19, 2027 (via Deadline). Addressing the ruling, a Paramount spokesperson said, “We respect the court’s decision and continue to believe a trial on the merits is the best and most direct way for us to prove what we’ve said from the start – this transaction is lawful, pro-competitive, and raises no antitrust concerns.”
Paramount continued to dismiss the antitrust lawsuit’s argument against the merger. “The lawsuit against us has no basis in fact, economics, or antitrust law,” the statement read. “We will continue to vigorously defend the transaction and remain committed to closing as soon as possible so its benefits for the creative community and consumers can be realized.”
Originally reported by Namrata Ghosh on ComingSoon.
