Press freedom groups are accusing Paramount Chairman Larry Ellison of promising Trump administration officials he would overhaul CNN and remove anchors disliked by President Donald Trump if Paramount succeeds in acquiring Warner Bros. Discovery.
The allegations were laid out in a shareholder demand letter sent Thursday by the Freedom of the Press Foundation and Reporters Without Borders, which are seeking access to Paramount's internal records under Delaware corporate law.
The groups claim investigative reporting over the past year suggests Paramount executives, including CEO David Ellison, may have offered favorable news coverage and other concessions to Trump administration officials in exchange for regulatory approval of the company's business deals.
According to the letter, Larry Ellison discussed Paramount's proposed acquisition of Warner Bros. Discovery with senior White House officials in late 2025 and raised the possibility of including CNN in the deal.
The filing cites reports alleging Larry Ellison promised to remake CNN's programming and fire anchors and commentators Trump disliked.
Trump has repeatedly attacked CNN publicly and previously called for the network to be sold or "turned off."
The shareholder groups are demanding records tied to Paramount's mergers, communications with federal officials, and internal discussions about changes at CBS News and potential plans for CNN.
The letter also scrutinizes Paramount's July 2025 settlement of Trump's lawsuit against CBS over a "60 Minutes" interview with presidential candidate Kamala Harris. Paramount agreed to pay $16 million to a foundation tied to Trump's future presidential library.
The shareholder groups additionally pointed to reports that Trump disclosed a separate "side deal" allegedly negotiated with David Ellison that involved an additional $15 million to $20 million in advertising support for causes important to the president.
The filing argues Paramount reshaped CBS News after the Skydance merger to appease Trump administration officials.
Among the examples cited were the cancellation of Stephen Colbert's late-night show after he criticized Paramount's Trump settlement, the appointment of conservative commentator Bari Weiss as CBS News editor-in-chief, and the installation of a network ombudsman tasked with reviewing political bias complaints.
The shareholder groups contend the changes damaged Paramount financially, claiming the company's stock price has fallen sharply since Weiss' appointment while CBS ratings declined.
The letter further questions Paramount's spending on Trump-linked ventures, including a reported $150 million acquisition of Weiss' Free Press platform and a multibillion-dollar UFC broadcasting agreement. UFC CEO Dana White is one of Trump's closest political allies.
The press freedom groups warned they would pursue court action if Paramount does not respond to the records demand within five business days.
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