Potential Suitor for CNN Emerges

Soo Kim, the New York hedge fund manager who founded Standard General, has been approached by at least one major Warner Bros. Discovery (WBD) shareholder about potentially acquiring or investing in CNN and other cable networks, according to a Financial Times report.

Kim has held preliminary talks regarding WBD’s cable assets—including CNN, TNT, Discovery Channel, and Animal Planet—people familiar with the matter told the newspaper.

Soo Kim

The interest comes as WBD prepares to spin off its cable networks into a separate public company, following Netflix’s agreement to acquire the studio and streaming business in a deal valued at approximately $72 billion.

However, Paramount has launched a hostile bid to acquire all of WBD, accusing the company of failing to properly negotiate. WBD’s board has rejected the offer as “illusory” and inadequately financed.

Standard General, known for distressed and special situations investing, has a history of media deals, including profitable acquisitions in broadcasting. No transaction has been finalized, and discussions remain early-stage.