Paramount Chief Executive David Ellison has asked CNN CEO Mark Thompson to stay at the helm of the cable news network after the acquisition of Warner Bros. Discovery closes, people familiar with the matter said. Thompson and Ellison have had conversations about the CNN chief staying in recent weeks, some of the people said. Thompson’s current deal extends into early next year. Ellison and Thompson have discussed a new contract but haven’t yet reached terms. Independence is key for Thompson, and he is seeking assurances that he will have wide-ranging autonomy for editorial operations.
Bari Weiss isn’t expected to have a role involving CNN at close of the deal, people familiar with Ellison’s thinking said. Ellison isn’t expected to name a news chief to oversee both operations when he lays out his organizational structure for the combined company in the coming days. On Wednesday, Paramount won a federal judge’s approval for a settlement with 12 state attorneys general that paves the way for the company to close its $81 billion acquisition of Warner.
Among CNN employees, there has been concern about the possibility of Weiss having influence over the cable news operation. Combining CNN and CBS News would be fraught with challenges, as the two organizations have different business models, newsroom cultures and labor structures. As part of the settlement, Paramount agreed to establish a five-member board of journalists to oversee editorial independence at CNN and CBS News. Ellison has been moving fast to set management teams and strategy. On Wednesday, Mattel CEO Ynon Kreiz was named Co-CEO of the combined companies, with Ellison remaining Chairman and CEO.
Source: Wall Street Journal US Business · Summarized by HeadlinesBriefing