President Donald Trump welcomed the completion of Paramount and Warner Bros. Discovery’s $110 billion merger Tuesday, saying he was “glad they let it go” as the deal created Skydance, the newly combined media giant led by David Ellison.
“I’m happy about that. That’s great,” Trump told reporters at the White House after learning that the deal had officially closed.
“It’s gonna be a great company. They’re terrific people, and it’s gonna be a great company,” Trump said. “That’s a great merger. I’m glad they let it go.”
The president’s comments put a political coda on one of the media industry’s most closely watched transactions, which required federal approval while Ellison’s relationship with Trump and his plans for CNN and CBS News remained under intense scrutiny.
The Justice Department cleared the merger in June, determining that the combination was unlikely to harm competition. The transaction later faced a lawsuit from 12 Democratic state attorneys general before Paramount reached a settlement that was approved by a federal judge Sept. 30.
That agreement included provisions aimed at protecting the editorial independence of CNN and CBS News, including the creation of an editorial independence board to establish guiding journalism principles for both organizations.
Those questions followed Skydance into its first day as a combined company.
During a companywide town hall Tuesday, Ellison told employees that he “believe[s] deeply in journalism” and called CNN and CBS News “a vital part of our democracy.” He also said he supported CNN’s legal challenge to the Trump administration’s decision to bar CNN, MS NOW and Politico from White House access.
Ellison has repeatedly sought to push back on concerns that his ties to Trump could influence the company’s news divisions.
The relationship nevertheless became part of the backdrop to the merger. Earlier this year, Ellison hosted a private Washington dinner attended by Trump while the Warner Bros. Discovery transaction was still awaiting federal approval.
Trump spoke at the gathering, which also included CBS News executives and senior members of his administration.
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