Barry Diller Expresses Interest in Purchasing CNN

Barry Diller, during an appearance at The Wall Street Journal’s Future of Everything Festival, expressed his willingness to buy CNN, stating he would act quickly to prevent further decline. He remarked, 'Absolutely, I would do it tonight and tomorrow night,' highlighting the need for innovation at the network. Diller noted that while CNN has made strides in digital investment, it requires more focus on its on-air programming. CNN is currently owned by Warner Bros. Discovery, which is in the process of merging with Paramount in an $81 billion deal. Diller indicated that if the merger proceeds, it may lead to significant cuts. He is familiar with restructuring, as his company, Interactive Corp. (IAC), is undergoing changes, including renaming to People Inc. and implementing layoffs to reduce overhead costs. These layoffs are projected to save $40 million annually.