Larry Ellison’s Oracle oversees U.S. TikTok data storage
Paramount Chief Executive David Ellison met with President Donald Trump at the White House while his company’s $111 billion acquisition of Warner Bros. Discovery remained under legal challenge, United Press International reported Monday. The same day, Paramount reached an agreement to resolve a 12-state antitrust lawsuit blocking the deal, clearing its path toward finalizing the acquisition.
CBS News has parted ways with notable senior leaders and journalists since Bari Weiss became editor-in-chief last year under David Ellison’s selection. Among those who have left is “60 Minutes” correspondent Scott Pelley. UPI described Weiss as a conservative political commentator and reported that her tenure has marked a shift in the news organization’s editorial standards.
David Ellison’s father, Larry Ellison, co-founded Oracle, the company that oversees U.S. data storage for TikTok and has aided a group of investors in acquiring the social media platform, UPI reported.
The settlement announced Monday commits Paramount to continue releasing 30 movies in theaters each year and maintain editorial independence at CNN and CBS News, The New York Times, Deadline, and Variety reported, citing people familiar with the negotiations. Additional details on the settlement were expected in an official announcement later Monday. California Attorney General Rob Bonta led the multistate coalition that argued the deal would give Paramount excessive market control. Neither Paramount nor Bonta immediately commented Monday. A court must approve the resolution before the $111 billion acquisition can close.