'What Could Go Wrong?': Elon Musk's Possible CNN and CBS News Stake Raises 'Alarm Bells' Online
Semafor reports that Paramount executives have considered approaching Musk for funding its proposed acquisition of Warner Bros. Discovery, though no investment has been announced
Elon Musk could acquire an indirect stake in CNN and CBS News through Paramount's Warner Bros. Discovery deal, according to a Semafor report published on Wednesday, 23 September.
The prospect drew worried responses from journalists online, while Semafor warned it could raise 'alarm bells' in Washington.
Paramount has been seeking investors as it finances the Warner Bros. acquisition. Semafor reported that executives discussed approaching Musk, one of several wealthy people chief executive David Ellison is considering. Musk has not announced any investment, and the amount he might contribute is unknown.
Why Elon Musk Is Being Considered
Semafor's Rohan Goswami reported that the discussions concern an equity investment in Paramount, rather than a purchase of either news organisation. CNN sits within Warner Bros. Discovery, while CBS News is part of Paramount.
That distinction matters. A stake in their parent company could give Musk a financial interest in both, but it would not, by itself, establish that he could direct their coverage. The report described no editorial role.
The company is seeking additional capital while navigating its Warner Bros. Discovery deal. Bringing in more investors could spread the cost among a wider group and ease the financial burden on Larry Ellison, David Ellison's father. It remains unclear whether Paramount has formally approached Musk, or whether any negotiations have taken place.
The family connection is part of the story. Oracle founder Larry Ellison invested in Tesla in 2018, later served on its board for years and backed Musk's 2022 purchase of Twitter, now X.
Semafor identified those ties while reporting that David Ellison had considered other potential investors. Familiarity, however, is no commitment to invest.
Elon Musk's Possible Stake Prompts Unease
The potential link between Musk and two major US newsrooms quickly became the focus of journalists' posts.
Media columnist Justin Baragona noted that an investment in Paramount could leave Musk with a stake in both CNN and CBS News. His immediate reaction on X was a terse 'Welp.'
Former CNN White House correspondent Jim Acosta replied with a sinking-face emoji. Chicago newscaster Brandon Pope described the possibility as 'horrendously bad for journalism'.
Documentary executive producer Laila Al-Arian asked, 'What could go wrong when oligarchs own media outlets?' Their responses addressed a proposed investment, not a completed change of ownership.
Semafor framed the political concern more specifically. Goswami wrote that Democrats had questioned Musk's money, influence and ownership of X during the 2024 election.
He argued that even partial ownership of CNN and CBS could cause alarm in Washington, adding that Musk would be unlikely to have formal input into Paramount's operations. That is Goswami's assessment, rather than an announced company policy.
For newsroom staff and audiences, the distinction between owning shares and making editorial decisions is central to what the report leaves unanswered.
Semafor did not establish what rights an investment would carry, whether Musk would seek any role at Paramount, or how much of the company he might own. The objections posted online reflect those uncertainties.
A Paramount spokesperson declined to comment to Semafor. Musk did not respond to its request for comment. The report did not say whether anyone had approached him directly.
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