CNN CEO Mark Thompson addressed staff on Wednesday, expressing his hope to remain at the network and be 'useful' to new management following Paramount's impending acquisition of Warner Bros. Discovery. During a quarterly town hall meeting that took place from 11 a.m. to 12:25 p.m., Thompson discussed the current state of the business and editorial direction, while also addressing concerns regarding the merger.
Thompson stated that he is 'very committed to CNN' and wishes to stay if he can be of assistance to his 'new bosses.' He acknowledged uncertainty regarding Paramount's plans for CNN and mentioned that he had not yet been informed about his role in the merged company.
Alongside Chief Financial Officer Adam Cohn, Thompson provided an update on the merger, which has raised concerns among CNN employees. A source indicated that staff members are anxious about potential job losses, especially after Paramount announced it anticipates $6 billion in cost savings, which could result in several thousand job cuts.
Employees have expressed worries about the future of CNN, particularly in light of changes at CBS News under news boss Bari Weiss, who has been noted for significant personnel changes. While there is speculation about Weiss potentially overseeing CNN, sources close to Paramount's David Ellison have suggested that this is not being considered.
Thompson attempted to reassure staff during the Q&A session, advising them not to speculate on Ellison's plans, as he himself is not yet informed. Staff reactions included feelings of uncertainty and frustration regarding the lack of direct answers.
The meeting followed Paramount's recent settlement of an antitrust suit with California Attorney General Rob Bonta, paving the way for the merger that will unite CBS News and CNN, along with other media properties.