Mark Thompson To Remain CNN Chief

(RTTNews) - Mark Thompson will remain chairman and editor-in-chief of CNN as Paramount Skydance's (PSKY) acquisition of Warner Bros. Discovery takes effect Tuesday, bringing the news network under the newly named Skydance. Thompson will report to Skydance CEO David Ellison and co-CEO Ynon Kreiz.

The decision ends months of uncertainty over CNN's future under the Ellison family. Thompson, who previously led the BBC and The New York Times Co., said he has confidence that Skydance's leadership will support CNN's editorial independence. Paramount's Bari Weiss will continue to oversee CBS News, with the two news operations remaining separate for now, although closer integration could be considered later.

The merger comes as Skydance faces pressure to reduce costs and manage a heavy debt burden. CNN's profitable operations and expanding digital business could provide important cash flow as the combined company restructures.

A five-member editorial independence board required under the merger settlement has yet to be appointed. Skydance also announced its broader leadership structure, with HBO chief Casey Bloys overseeing streaming content and Paramount executives leading television and film operations.