Paramount Skydance offers CNN sale to clear merger
Paramount Skydance Corp. said it could sell CNN if that helps resolve an antitrust lawsuit that is blocking its planned $110 billion merger with Warner Bros. Discovery. Chief legal officer Makan Delrahim framed a CNN divestiture as a possible concession to remove the final major obstacle from a deal that already has U.S. federal and several international approvals. California and 11 other states argue the merger could reduce competition and raise prices. Paramount also faces a reported roughly $7 million per day fee if the transaction is not completed by Oct. 1, making a sale potentially material for investors and deal timing.
Paramount may sell CNN to try to clear antitrust hurdles.
Context
Paramount Skydance is trying to buy Warner Bros. Discovery. Several states sued to stop…
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