Paramount Skydance may sell CNN to secure $110B merger
Paramount Skydance is thinking about selling CNN to help clear the last big roadblock for their $110 billion merger with Warner Bros. Discovery.
California and 11 other states are suing, saying the deal could hurt competition and make media more expensive.
Paramount's legal chief, Makan Delrahim, even mentioned they might move out of California if needed, saying, "a point at which you have a duty, a fiduciary duty to your shareholders, and those are the factors you consider."
California AG seeks stronger merger guarantees
Most regulators, including those in the US UK and China, have already OK'd the merger (with some conditions).
But California's attorney general isn't convinced by Paramount's promises so far and wants stronger guarantees that competition and consumer choice won't suffer.
For now, selling CNN or relocating are both options on the table as Paramount Skydance try to get this massive merger across the finish line.