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Mark Thompson to Stay at CNN After Skydance Buy
Confirmed
In Short: Mark Thompson will remain as CNN's Chairman and Editor-in-Chief following Skydance's acquisition of Warner Bros.
Mark Thompson will continue to lead CNN as Chairman and Editor-in-Chief after Skydance completes its acquisition of Warner Bros. Discovery, according to a Monday announcement.
Thompson will retain his current responsibilities and prerogatives, despite speculation about potential changes following the deal.
In a memo to staff, Thompson expressed confidence in Skydance's leadership, stating, 'I’m convinced that from David Ellison on down, Paramount Skydance leadership really does believe in news alongside entertainment as a top strategic opportunity for our new company.'
Thompson's decision to stay may reassure CNN employees, who had concerns about the network's future under new ownership.
Despite these challenges, CNN remains a significant profit generator for Warner Bros. Discovery, contributing over $1 billion in profit in previous years.
Thompson acknowledged staff concerns, saying, '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!'
However, he expressed optimism about the future, stating, '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.'
Thompson also noted that Skydance's leadership has seen CNN's digital strategy and is as excited about it as the network's own team.
The announcement comes after Thompson revealed last week that he was in discussions with Paramount to stay in his role.
Thompson had previously told staffers not to assume CNN would combine with CBS News following the acquisition.
Thompson's continued leadership is expected to help maintain CNN's reputation and stability during the transition.
What this adds
Thompson's continued leadership may help reassure CNN staff and maintain the network's reputation for independent journalism.
The specifics of how CNN will integrate into Skydance's suite of media assets have yet to be finalized.
What's confirmed
- Nonetheless there are a few important things I can say: First, I’m convinced that from David Ellison on down, Paramount Skydance leadership really does believe in news alongside entertainment as a top strategic opportunity for our new company.
What's still developing
- Later today, the company is announcing the anticipated leadership lineup of the company which is now called Skydance.
- 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.
- 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 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.
- The network remains a solid contributor of the overall profit at Warner, but it’s financial engines are less powerful than they once were.
- Thompson, who's led CNN since October 2023, told staffers on Monday that he's staying at the network.
- Thompson told employees he has "real confidence" that Ellison will "understand and will fully support the principle and practice of the kind of independent news that CNN has always stood for."
- "Don't jump to conclusions that we become one with CBS News," CNN CEO Mark Thompson had told staffers at a September town hall, a person familiar with the meeting said.