Mark Thompson isn’t going anywhere.
Paramount has acquired Warner Bros. Discovery, the parent company of the news giant, while David Ellison remains on as chief executive of CNN.
Thompson, who has led CNN since October 2023, told staff on Monday that he would stay at the network. His title will be Chairman and Editor-in-Chief.
“I am convinced that Paramount Skydance’s leadership, starting with David Ellison, truly believes that news and entertainment are the top strategic opportunities for our new company,” Thompson said in the memo obtained by Business Insider.
Thompson told staff he had “truly confidence” that Allison would “understand and fully support the principles and practices of independent journalism that CNN has always stood for.”
The leadership of Ellison’s new media giant “saw our digital strategy and were as excited about it as we were,” Thompson said.
CNN’s top boss previously told employees not to think the network would merge with CBS News after Paramount completed its mega-deal to acquire Warner Bros. Discovery Channel.
“Don’t jump to the conclusion that we will become one with CBS News,” CNN Chief Executive Mark Thompson told staff during a September town hall, according to a person familiar with the matter.
Paramount’s blockbuster deal with WBD will bring CNN and CBS News under one roof, as well as two major movie studios, HBO, HBO Max, Paramount+, Pluto TV and numerous cable channels. Paramount’s acquisition of WBD is expected to close on Tuesday, weeks after Paramount settled a lawsuit that slowed the merger process.
Last October, Ellison shocked CBS News by hiring Bari Weiss as the network’s top editor.
Weiss, a former opinion editor at The New York Times who had never worked in television news before, was critical of the mainstream media and known for her anti-woke views. She faces accusations of editorial interference and political bias from former CBS News employees, which she denies.
As part of the settlement, Paramount will establish an independent editorial board to oversee the editorial principles of CNN and CBS News. It will report to the combined entity’s corporate board of directors through its chief compliance officer.
Beyond that, Paramount CEO David Ellison didn’t say how CNN and CBS News would operate under joint ownership. The media mogul has expressed interest in building a “news service at scale,” but he has yet to publicly reveal specifics.
Read Thompson’s full memo to CNN staff:
Everyone, As you know, Paramount Skydance will close its acquisition of Warner Bros. Discovery Channel tomorrow, giving CNN a new owner. Later today, the company announced the expected leadership lineup for the company, now called Skydance. You’ll see my name on the list as president and editor-in-chief of CNN. I am writing to you now to explain what this means. The specifics of how CNN will be integrated into and operate within the new company have yet to be finalized — not surprising considering the Paramount antitrust settlement was days away from serious discussions. So I can’t answer all the questions today. Still, I can say some important things: First, I’m convinced that Paramount Skydance’s leadership, starting with David Ellison, truly believes that news and entertainment are the top strategic opportunities for our new company. They’ve seen our digital strategy and are as excited about it as we are. Second, after speaking with them at length on this topic, I am convinced that they all understand and will fully support the principles and practices of independent journalism that CNN has always advocated. That’s why I’ll be leading CNN into its next chapter as it becomes one of Skydance’s premier media properties and global brands, and leading it as an independent editor-in-chief with the same responsibilities and privileges that I have now. I know many of you are dreading this moment. That’s understandable – in fact, as I hinted at earlier, I’ve experienced a weird moment or two myself! But I will say that on the eve of Paramount Skydance’s acquisition of CNN, I found myself in a very positive frame of mind. I really believe we’re going to work with a team that not only has a real vision and real energy, but also real values. We’ll make sure everyone has the details on how to watch the company’s actual announcement tomorrow. There’s more to come, I wish you all the best, mark