CNN faces uncertainty amid Netflix’s $82 billion acquisition of Warner Bros. and its vast content library.
Even President Donald Trump weighed in this weekend on Netflix’s purchase of the Warner Bros. studio and its nearly century-old library of classic movies and TV shows. “They have a very big market share and when they have Warner Bros., you know, that share goes up a lot so, I don’t know,” Trump told reporters on Sunday. “I’ll be involved in that decision, too. But they have a very big market share.”
It isn’t often you see Trump maybe taking the same side as Sen. Elizabeth Warren (D-The Rez.) on any issue, but on Friday, Fauxcahontas called the proposed buyout „an anti-monopoly nightmare“ that „would create one massive media giant with control of close to half of the streaming market — threatening to force Americans into higher subscription prices and fewer choices.“
But what about that barely known, little-watched property named Cable News Network?
Founded by famous crazy person Ted Turner in 1980, CNN was the first 24-hour news network, but has long been in third place behind rivals Fox News and MS NOW (formerly MSNBC).
Time Warner bought CNN as part of its purchase of Turner Broadcasting System in 1996, later becoming WarnerMedia before merging with Discovery to create Warner Bros. Discovery (WBD) [pause for deep breath], which Netflix just offered to buy for $82 billion, mostly in cash.
