Two press freedom organizations that hold shares in Paramount Skydance are demanding access to the company’s internal records, alleging that its leadership may have traded editorial favors for White House approval of its $111 billion bid to acquire Warner Bros. Discovery.
The Freedom of the Press Foundation and Reporters Without Borders sent a letter Thursday to Paramount chief legal officer Makan Delrahim, invoking a Delaware law that grants shareholders the right to inspect company books and records “for any proper purpose.” The groups gave Paramount five days to comply or face legal action.
At the center of the allegations: Larry Ellison, the Oracle billionaire backing his son’s Paramount acquisition, reportedly told Trump administration officials he would “implement the CBS playbook” at CNN — removing anchors and commentators the president dislikes — if the Warner Bros. Discovery merger wins regulatory approval. The groups’ 19-page letter dedicates 12 pages to published reporting documenting those alleged promises.
The letter also cites changes implemented at CBS since the Ellison family acquired Paramount last summer, including the cancellation of Stephen Colbert’s The Late Show — terminated days after Colbert described a Paramount settlement with Trump as a “big fat bribe” — and the appointment of Free Press founder Bari Weiss as CBS News editor in chief. Critics say Weiss has reshaped the network’s coverage to align with the administration’s preferences, a charge the groups fold into their misconduct argument.
The organizations are represented by Brendan Ballou, a former federal prosecutor who resigned from the Justice Department when Trump returned to office and later founded the Public Integrity Project to challenge alleged government corruption, alongside Delaware attorney Ronald Poliquin.
The deal won overwhelming approval from Warner Bros. Discovery shareholders two weeks ago, paying stockholders $31 per share — four times WBD’s stock price a year ago — but would saddle the combined company with $79 billion in debt. Separately, more than 4,000 film and television workers, including Ben Stiller, Bryan Cranston, and Jane Fonda, have signed an open letter pressing California Attorney General Rob Bonta to pursue antitrust action to block the merger.
Paramount did not respond to a request for comment. David Ellison has said he wants to close the Warner Bros. acquisition by the end of September.
