David Ellison is set to take control of CNN and CBS News following a settlement reached on Monday, September 21, 2026, between Paramount Skydance and a coalition of 12 U.S. states and a Hollywood writers' union. The agreement clears the way for a $110 billion acquisition of Warner Bros Discovery, provided the combined company establishes a news editorial independence board. The board is intended to establish editorial principles and resolve disputes regarding bias or management interference at the news organizations.
The settlement concludes a legal challenge led by state attorneys general, including California's Rob Bonta and Connecticut's William Tong, who had sought to block the merger. While Bonta described the board as a meaningful protection for the integrity of the networks, Tong stated he was disappointed the deal did not result in a full divestiture of CNN and CBS News. Some network employees and media figures have expressed skepticism regarding the board's effectiveness, and critics previously raised concerns about potential influence on news coverage due to the Ellison family's reported communications with the White House.
Under the terms of the settlement, the oversight board will consist of five current or former journalists, each with at least 10 years of experience. Members will serve three-year terms and may not be removed without "good cause," though the company retains the authority to fill vacancies. The agreement also specifies that no more than two members may belong to the same political party. However, legal experts noted that the board lacks explicit investigative authority, its decisions are not required to be public, and it is unclear if its findings will be binding on Ellison.
The merger places two major national news outlets, CNN and CBS News, under the control of a single owner. Under the settlement, the new ownership has a 180-day window following the close of the merger before the oversight board must be established. Observers point to the 2007 acquisition of the Wall Street Journal by News Corp as a precedent; in that case, some critics argued a similar oversight committee was unable to prevent the owner from replacing the top editor shortly after the purchase.
The settlement also creates a separate independent monitoring trustee for film production and cable licensing, but this trustee is explicitly barred from involving themselves in news operations. This leaves the five-member editorial board as a mechanism for state attorneys general to enforce terms under the consent decree in federal court. The merger is expected to proceed now that the settlement is reached, with the board's establishment required within 180 days of the deal closing.