The future of network Ten in Australia along with streaming operation Paramount + could come down to a deal between Larry Ellison the major shareholder in Oracle and US President Donald Trump, with some insiders claiming that if a deal is reached Network Ten could be sold.
Paramount Global the owner of Network Ten is up for sale and Larry Ellison’s son David Ellison wants to buy it via his Skydance production Company, the only problem is a Trump legal threat and the settlement of a deformation case has got in the way.
What Paramount Global are struggling with is how to settle President Trump’s lawsuit against its CBS News unit, over a questionable 60 Minutes interview featuring former Vice President Kamala Harris.
Trump’s lawsuit against CBS alleges that the network committed election interference by favorably editing portions of an interview with Harris, giving her an edge in her campaign for president.
If they settle it might expose executives to future legal threats, such as accusations of bribery.
According to the Wall Street Journal Company executives in recent weeks have talked about the risk that paying such a settlement could expose directors and officers to liability in potential future shareholder litigation or criminal charges for bribing a public official, according to people familiar with the conversations. Some executives have expressed an additional concern that such litigation may not be protected by director and officer insurance, some of the people with knowledge of the discussions said.
Currently Paramount is awaiting regulatory approval for its merger with Skydance Media.
One possibility is that Ellison Senior cuts a deal directly with Donald Trump who is a friend and gold buddy as well as a potential partner with the new US administration in future projects.
Skydance don’t want to do the deal unless their is a clear outcome to a settlement with the now President of the USA.
Currently The US FCC has authority over the Paramount-Skydance deal because it would involve the transfer of broadcast television licenses held by CBS.
Trump alleges that CBS aired one version of the interview on “60 Minutes” and another version on its show “Face the Nation,” each containing different answers about Israel.
CBS has said it aired a more succinct version of Harris’s interview on “60 Minutes.”
