You really think Paramount cares about the IP and not just controlling the platforms to wield political power?
If they wanted the policial platforms and had offered to buy them from Warner as standalone for a tenth of the cost Warner would have snapped their hand off.
They need the IP for scale. That is what this is about.
But mainly it's driven by right-wing media propaganda. It was never really true, not even really a little. But even so, you can listen to hours and hours of content per day from right-wing personalities driving anti-media grievance. It's been that way for at least two decades.
To change the perception, far-right propaganda has to be countered or stopped. If the Ellison's and Weiss start meddling with CNN, it's probably not to counter far-right propaganda, but to spread even more.