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FOR IMMEDIATE RELEASE:

New York, May 7, 2026 — Today, Freedom of the Press Foundation (FPF) and Reporters Without Borders, Inc. demanded records from Paramount Skydance Corp. regarding potentially corrupt acquisitions and deals that could result in relinquishing editorial control of major news outlets to the Trump administration. Public reports suggest that David Ellison and his father Larry may have tried to secure regulatory approval to acquire Paramount and now Warner Bros. Discovery by, among other things:

• Making a “side deal” to settle President Trump’s spurious lawsuit against “60 Minutes” by providing $15 million to $20 million worth of free advertising.
• Installing a pro-Trump GOP donor without journalism experience as “ombudsman” at CBS News to evaluate complaints of “bias” and to eliminate all diversity, equity, and inclusion practices.
• Promising to make “sweeping” changes to CNN, and to potentially fire anchors and commentators whom Trump dislikes.

Since Paramount Skydance announced its most consequential Trump-friendly changes at CBS News in October — acquiring The Free Press and appointing Bari Weiss as editor-in-chief — the company’s market capitalization has decreased by 40%, wiping out more than $8 billion in shareholder value. Ratings for key programs, like “CBS Evening News with Tony Dokoupil,” have also dropped precipitously. Freedom of the Press Foundation and Reporters Without Borders, which are both shareholders in Paramount Skydance Corp., are entitled to inspect the company’s books and records related to these developments under Section 220 of the Delaware General Corporation Law.

“Shareholders are entitled to know when the government uses its leverage over corporate transactions as a backdoor to meddle in editorial decisions that the First Amendment leaves to the press,” said Seth Stern, chief of advocacy at Freedom of the Press Foundation. “Larry and David Ellison’s capitulation not only harms the public and our democracy, it hurts Paramount by producing news shows people don’t want to watch and tanking the reputations of news outlets in order to appease Trump. If the Ellisons can’t stand up to their friends in the administration and defend the First Amendment, they should stay away from the news business.”

“We need to know what the Ellisons may have promised the president to secure these deals,” said Clayton Weimers, executive director of Reporters Without Borders, Inc. “This acquisition has all the warning signs of a political capture. The American public deserves to know whether the Ellisons are sacrificing editorial independence to appease Donald Trump and secure regulatory approval from an administration that is openly hostile to press freedom.”

“Our clients are entitled to the same records as any other shareholder in Paramount, and legally, the company must comply,” said Brendan Ballou, CEO of the Public Integrity Project. “If Paramount fails to do so, we are prepared to vindicate our clients’ rights in court.”

Under Delaware law, Paramount has five business days to respond to the shareholders’ request. Freedom of the Press Foundation and Reporters Without Borders are being represented by the Public Integrity Project and Ron Poliquin of The Poliquin Firm.

Please email Seth Stern (seth@freedom.press) for any follow-up questions or inquiries.

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