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Mark Thompson said Monday that he would remain in charge of CNN following the purchase of the new giant’s parent, Warner Bros. Discovery, by Skydance, a move that may serve to reassure many of the outlet’s staffers.
“I have real confidence that they both understand and will fully support the principle and practice of the kind of independent news that CNN has always stood for,” Thompson said of the company’s new owners., in a memo to staffers. “That’s why I will be leading CNN into this new chapter as it becomes one of Skydance’s suite of major media assets and global brands, and leading it as an independent Editor-in-Chief with the same responsibilities and prerogatives that I have now.”
Thompson revealed last week he was in discussions with the company currently known as Paramount to stay in his role as chairman and CEO of the news company.
The news could bring some relief to staffers at CNN, who have been worried about the fate of the news division under Paramount. Staffers have wondered about Paramount CEO David Ellison’s commitment to credible newsgathering given recent scrutiny of the executive he installed at CBS News, Bari Weiss. They are also concerned about the direction Paramount may see for CNN’s new streaming service. CNN’s progress with digital audiences has been slowed by a bevy of changes in the company’s corporate direction in recent years.
“I know many of you have had trepidations about this moment. That’s understandable — indeed, as I’ve hinted before, I’ve had the odd moment or two myself!” Thompson said in the memo. “But I want to say that on the eve of the acquisition of CNN by Paramount Skydance, I find myself in a very positive frame of mind. I really do believe we’ll be working alongside a team who don’t just have real vision and real energy, but real values as well.”
During his tenure, Thompson has focused on getting CNN content in front of younger viewers and digital audiences. CNN has been testing new formats with its “CNN All Access” subscription service, and has seen up-and-coming personnel like Abby Phillip and Harry Enten gain some traction. Warner Bros. Discovery projected in a filing with the U.S. Securities and Exchange Commission earlier this year that CNN will generate $600 million in profit in 2026 on $1.8 billion in revenue.
CNN’s path forward remains foggy. The network remains a solid contributor of the overall profit at Warner, but it’s financial engines are less powerful than they once were. CNN in past years generated $1 billion in profit, and under the aegis of Warner Bros. Discovery, management and personnel moves made have left CNN scrambling to make up a longer-term downturn in ratings. Warner Bros. Discovery also slowed down CNN’s progress in streaming, scuttling a venue called CNN+ while rivals like NBC, CBS, ABC, MS NOW and Fox News plunged ahead with new broadband experiments.
Thompson acknowledged that CNN’s path forward might not be the clearest. “The specifics of how CNN will plug into and operate in the new company have yet to be finalized – hardly surprising given that serious discussions could only begin after Paramount’s anti-trust settlement a few days ago. So I can’t answer every question today.”
