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Barry Diller to Acquire CNN, Rebrand IAC as People Inc.

5/6/2026

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Summary

Story summary

Media mogul Barry Diller said he would buy CNN at the Future of Everything summit in New York on May 6, 2026.
He called CNN “so ripe” for innovation, noting it has not changed in almost ten years.
Diller warned that Paramount’s acquisition of Warner Bros. Discovery, reported at $111 billion and $81 billion, could trigger cuts.
He announced he will step aside as IAC CEO, rebrand to People Inc., and cut staff to save $40 million annually.

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Story summary

Media mogul Barry Diller said he would buy CNN at the Future of Everything summit in New York on May 6, 2026.
He called CNN “so ripe” for innovation, noting it has not changed in almost ten years.
Diller warned that Paramount’s acquisition of Warner Bros. Discovery, reported at $111 billion and $81 billion, could trigger cuts.
He announced he will step aside as IAC CEO, rebrand to People Inc., and cut staff to save $40 million annually.