The core facts in that Benny Johnson post check out as of today.
Paramount Skydance, run by David Ellison and backed by his father Larry Ellison, is acquiring Warner Bros. Discovery. That deal includes CNN. The last major obstacle—a lawsuit from 12 Democratic state attorneys general led by California AG Rob Bonta—was settled yesterday (September 21). Paramount now expects the transaction to close in about two weeks, around early October. 
Larry Ellison has given substantial support to Trump-aligned efforts, including a reported $45 million contribution to a nonprofit backing the 2024 campaign plus additional later giving. Trump has publicly called both Ellisons friends and supporters. Paramount has denied making any explicit promise to overhaul CNN in exchange for merger approval. 
CNN staffers have described the mood internally as grim, anxious, and “horrific” in reporting from multiple outlets over the past several months, citing uncertainty about jobs and the changes already made at CBS News under Bari Weiss. “Funeral” is colorful language, but it tracks with the reported atmosphere. 
The 12 attorneys general dropped their antitrust case after Paramount agreed to several conditions: a multi-year minimum number of theatrical releases, extra spending on U.S. film production, a fund for affected workers, and a monitoring board meant to protect editorial independence at both CNN and CBS News. Bonta said the settlement is not an endorsement of the merger itself. 
The ownership change is happening. Claims that it will “destroy” CNN or that journalists are in full panic are opinion and hype layered on top of those facts. David Ellison has publicly pledged to keep CNN editorially independent and to aim at a broad center audience. Whether the network actually shifts, and how much it resembles the CBS News changes, remains to be seen once the deal closes.
