With Paramount set to take over WBD, Trump just steered a major news outlet into the hands of a crony

Another major media conglomerate teeters on the precipice of being absorbed by a deep-pocketed ally of President Donald Trump and his administration.

At the end of last week, Netflix had a signed deal to purchase the theatrical and streaming divisions of Warner Bros., with the company’s cable division — including CNN — set to be spun off into a separate company. Netflix had previously defeated a rival offer for all of Warner Bros. from Paramount, the media conglomerate owned by David Ellison, a Trump favorite and the son of the president’s buddy Larry Ellison, the billionaire.