Speaking at the Wall Street Journal's Future of Everything summit in New York, Diller said CNN could be available through Paramount's $111bn deal for Warner Bros. Discovery.
He said he had previously approached Warner Bros. Discovery about acquiring the network and argued CNN is overdue for innovation after nearly a decade of stagnation.
Diller warned Paramount may subject CNN to harsh cost-cutting once the deal closes, adding to wider concerns about shrinking traditional media under pressure from technology companies.
As AI and individual creators redefine news, is CNN's biggest threat its new owner or its outdated business model?
Amidst tech dominance and sinking trust, can any media mogul truly 'save' a legacy news network like CNN?