NEWSJake Tapper Stunned as He Breaks News of Potential CNN Takeover by Paramount CEO While Live on Air
CNN anchor Jake Tapper was visibly stunned by the news.
Feb. 27 2026, Published 5:58 p.m. ET
Things got pretty meta when CNN anchor Jake Tapper reported breaking news on the Thursday, February 27, edition of The Lead that Paramount Skydance is likely to acquire Warner Bros. Discovery and CNN.
Tapper was on air as Netflix said it wasn’t going to outbid Paramount’s $111 billion to acquire Warner Bros.
While the streaming giant reached a tentative deal to acquire a substantial portion of Warners’ holdings, including its studio and HBO, Paramount countered and Netflix was out.
Paramount CEO David Ellison Is a Major MAGA Ally
Paramount CEO David Ellison reportedly told the Trump administration he'd make 'sweeping changes to CNN.'
The acquisition will still require regulatory approval in the U.S. and Europe, but Paramount CEO David Ellison, a major MAGA ally, reportedly told the Trump administration he would “make sweeping changes to CNN” if his company was able to acquire it.
President Donald Trump publicly weighed in on the media industry drama, saying it is “imperative that CNN be sold.”
Trump has raged about the network since his first term, calling it “fake news” and repeatedly degrading its reporters, including Kaitlan Collins.
Jake Tapper Discussed the Possibility of Paramount Acquiring His Own Network
CNN anchor Jake Tapper and media analyst Brian Stelter discussed what this deal may mean for them.
As the news broke, Tapper discussed the possibility of Paramount acquiring his own network with CNN’s media analyst Brian Stelter.
“We have some breaking news in our national lead that affects everybody I’m looking at right now in the studio. Moments ago, Netflix said it is declining to raise its offer for the purchase of Warner Bros. Studios and HBO, following the Warner Bros. Discovery board’s determination that Paramount, which is not just going for Warner Bros,” Tapper reported.
“Studios and HBO, but also the whole enchilada, including us here at CNN, Paramount has submitted a superior offer according to Warner Bros. Discovery’s board. As I’ve noted, Warner Bros. Discovery is the parent company of CNN as well,” he added.
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CNN Panic Comes as Anderson Cooper Quit CBS' '60 Minutes'
CNN's Anderson Cooper may be in the market for a new network again.
If the deal does go through, Ellison will now oversee a massive news empire combining CNN and CBS News.
Stelter noted that Ellison has already made major moves in the news space, such as appointing "anti-woke" Bari Weiss as editor-in-chief of CBS News. The hiring of Weiss as boss has caused concern among some journalists about the network's rightward tilt.
60 Minutes and CNN reporter Anderson Cooper recently left his position at CBS, reportedly due to Weiss' MAGA-friendly takeover.
Paramount's Deal Has 'Huge Ramifications' for Hollywood and Media
Paramount's impending deal has been called 'crony capitalism' by critics.
Sen. Elizabeth Warren (D-Mass.) has described the process as "crony capitalism," suggesting regulatory pressure was used to favor Ellison over Netflix.
Journalists and media advocates, including former CNN anchor Jim Acosta, have warned that the deal creates "state-compromised media," endangering free speech by putting major news outlets under the control of politically aligned billionaires.
“This has huge ramifications for Hollywood, for news industry, for cable,” said CNBC anchor Andrew Ross Sorkin.
