Warner Bros. Discovery Paramount Skydance media industry Barry Diller IAC CNN acquisition Future of Everything Festival media moguls

Barry Diller, chairman and senior executive of IAC and Expedia Group, has once again expressed his strong interest in acquiring CNN. Speaking at the Wall Street Journal’s Future of Everything Festival on Tuesday, Diller declared he would “absolutely” buy the news network, stating he would “do it tonight and tomorrow night … before they ruin it any further.”

He added, “Hopefully before it’s extinct, which, I mean, it’s not gonna be.” Diller emphasized CNN’s untapped potential for innovation, noting it was “so ripe” for transformation—something he claimed he hadn’t seen in nearly a decade.

While praising CNN’s digital investments, Diller criticized the network’s on-air product, calling for greater financial commitment to its core programming. His remarks come amid ongoing industry consolidation, particularly the $110 billion acquisition of Warner Bros. Discovery by Paramount Skydance, finalized in February after shareholder approval.

Diller expressed skepticism about the merger’s ability to deliver on promised cost cuts, stating, “So how they do that and navigate also running the surviving businesses… I don’t know.” He described the process as potentially “savage.”

Diller’s History of Interest in CNN

Diller’s latest comments follow his long-standing interest in acquiring CNN, first reported nearly four months ago. In March, he outlined his vision for the network, telling journalist Graham Bensinger that he had been “very interested” in owning CNN for years. He stated that if successful, he would transform the Warner Bros. Discovery property “in every way.”

However, an insider familiar with the matter told TheWrap in January that while Diller met with some executives, no serious action was taken, and the idea was not brought to CNN’s board. The source noted that CNN was critical to the company’s distribution agreements, and selling it separately could trigger significant tax liabilities.

Current Business Priorities for IAC

Despite his enthusiasm for CNN, Diller remains focused on restructuring his own company, IAC. Last week, he announced a major rebrand to People Incorporated, alongside C-suite changes, cost-saving measures, and layoffs. In a letter shared at the end of April, Diller outlined plans to reduce overhead and enhance agility, emphasizing two core assets: People’s publishing and MGM Resorts holdings.

“We have an excellent balance sheet with plenty of cash to pursue opportunities,” Diller stated. “It’s possible we’ll find new arenas, that’s always an option, but for now we’ll concentrate on the two we have in front of us.” He added that IAC had undergone four cycles of transformation since its founding over two decades ago.

Source: The Wrap
How a Fabricated Citation Fueled 'Sensitive Place' Gun Bans After Bruen
← Previous

How a Fabricated Citation Fueled 'Sensitive Place' Gun Bans After Brue...

 NCIS: Origins Season 2 Finale: Gibbs and Lala Kiss, Lala's Kidnapping Twist, and Monreal's Exit Revealed
Next →

NCIS: Origins Season 2 Finale: Gibbs and Lala Kiss, Lala's Kidnapping...