David Ellison’s Paramount Skydance is set to complete its acquisition of Warner Bros. Discovery this week, marking a major consolidation in the entertainment and news media sectors. As part of the nearly $112 billion deal, Paramount Skydance will assume control of CNN, one of Warner Bros. Discovery’s flagship news properties. Despite speculation about potential editorial shifts, CNN’s current chair and editor-in-chief, Mark Thompson, will remain at the network’s helm.
Thompson, a former CEO of The New York Times, confirmed in a memo to CNN staff that he had reached an agreement to stay on after discussions with Skydance executives, including Ellison. He expressed confidence in the new owners’ commitment to preserving CNN’s editorial independence and said he would retain his existing responsibilities and prerogatives. “Having now spoken to them at length on the topic, 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 wrote.
The decision to keep Thompson in place comes amid concerns within CNN about possible changes under Ellison’s ownership, especially given Ellison’s ties to former President Donald Trump and his previous appointment of Bari Weiss—a critic of mainstream media—to lead CBS News, another property under Skydance. Some CNN staff had feared that Weiss might exert influence over CNN's editorial direction, but for now, both Thompson and Weiss will operate their respective news divisions separately, serving on a joint “C.E.O. news executive leadership team.”
Still, some industry insiders and television executives are skeptical about the long-term stability of Thompson’s tenure. One television executive, speaking anonymously, suggested that Thompson’s ongoing role was temporary and that changes, including a possible merger of CNN and CBS News to reduce costs, could be forthcoming. This executive also noted expectations that Ellison might eventually replace Thompson, anticipating that such moves could align with promises reportedly made to Trump regarding CNN’s editorial path.
Thompson’s current contract is set to expire in the spring, and negotiations about his renewal are reportedly ongoing, along with unresolved details about how CNN will integrate within the broader Skydance organization. Both CNN and CBS News operate substantial, distinct news operations, with CBS News partially unionized, presenting potential challenges for any future integration.
Beyond news operations, Ellison faces significant strategic decisions managing the expanded media empire, which includes major movie and television studios, streaming platforms, and sports broadcasting rights, notably the National Football League agreement held by CBS Sports. Paramount Skydance’s leadership aims to balance maintaining profitable legacy television and sports properties while investing in growing streaming services like Paramount+ and HBO Max.
The acquisition leaves Skydance with substantial debt, estimated around $82.5 billion, increasing pressure to find cost savings and grow subscriber numbers in a highly competitive streaming market. Within this complex landscape, preserving CNN’s editorial independence while meeting financial and operational goals presents a critical challenge. Ellison and Thompson both underscore a committed—but cautious—approach as the integration moves forward.