"Two press freedom groups are accusing Paramount Skydance owner Larry Ellison of promising favors to the Trump administration to win regulatory approval in its bid to take over CNN's parent company, Warner Bros. Discovery. Those favors allegedly include making sweeping staff changes at CNN, a network that President Donald Trump often bashes as fake news. The groups, Freedom of the Press Foundation and Reporters Without Borders, own shares in Paramount Skydance, and sent a letter to the company's chief legal officer Thursday demanding to see internal documents that could be related to Ellison's alleged attempt to curry favor with the White House."
"The groups cited a Delaware law allowing stockholders to inspect the books and records for any proper purpose. According to the letter, the groups expressed credible concern that Paramount leadership has offered, solicited, or effectuated a corrupt exchange, and alleged that promises made to Trump constitute a breach of fiduciary duties that opens up the company to a range of potential civil and criminal penalties. The groups demanded internal documents that could be related to Ellison's alleged attempt to curry favor with the White House."
"Last summer, the Trump administration approved the Ellison family's bid to acquire Paramount, which includes CBS. Son David Ellison brought in Free Press founder Bari Weiss to head CBS News and make sweeping staffing and editorial changes. Critics have accused her of pandering to the Trump administration in its news coverage. Larry Ellison reportedly told Trump that he would implement the CBS playbook at CNN if the merger is approved, which would mean removing anchors and commentators at the network that Trump doesn't like, the letter alleged."
"Warner Bros. Discovery shareholders overwhelmingly approved the proposed merger just two weeks ago. Investors have supported the Larry Ellison family takeover, which would become the biggest Hollywood merger in nearly a decade, reported The Los Angeles Times. The deal would pay Warner stockholders $31 per share four times the stock price a year ago."
Freedom of the Press Foundation and Reporters Without Borders accuse Paramount Skydance owner Larry Ellison of offering favors to the Trump administration to win regulatory approval for a bid to take over Warner Bros. Discovery, which owns CNN. The groups claim the alleged favors include sweeping staff changes at CNN, a network President Donald Trump frequently criticizes as fake news. They sent a letter to the company’s chief legal officer demanding internal documents under a Delaware law that allows stockholders to inspect books and records for a proper purpose. The groups cite credible concern about a corrupt exchange and alleged breaches of fiduciary duties that could trigger civil and criminal penalties. They also reference staffing and editorial changes at CBS tied to the Ellison family’s Paramount acquisition approval.
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