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Ellison assures CNN of its independence under Skydance
After months of corporate and political wrangling, the dust is settling, and in our midst is a new behemoth controlling, in its collection of media properties, two news networks — CBS News and CNN — along with Paramount, Warner Brothers, HBO Max, and more than 40 TV properties including BET, CBS,TBS, and TNT.
And with the profound loss of credibility CBS News has already suffered, it was reasonable enough to wonder about the fate of CNN.
Fear not, says David Ellison, who sits atop the new entity. For now, CBS News will continue to be run by Editor-in-Chief Bari Weiss, while CNN will continue to be headed by Mark Thompson.
After discussions with Ellison and other Skydance leaders, Thompson on Monday wrote to CNN 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.”
At an employee event on Tuesday moderated by Anderson Cooper, Ellison said, “We believe in editorial independence, and we will never interfere.”
Cooper took that assurance to his audience that night, saying, “We here at ‘The Lead’ want you to know that we take Mr. Ellison at his word and we will hold him to it.”
Talking with reporters, Ellison denied he had politicized the new company.
“We have a good relationship with this administration,” he said.
“I also had a really good relationship with President Biden. I have a good relationship with [Republican South Carolina senator] Tim Scott, and I have a good relationship with Governor Gavin Newsom. I think it is important to talk to everybody on both sides of the aisle.”
Potential business challenges loom, The New York Times reported: “There were some signs of early turbulence on the horizon. On Tuesday, the ratings agency Fitch said it was downgrading the combined company to reflect increased debt as well as ‘significant execution and integration risks.’
“And Mr. Ellison and [co-chief executive Ynon] Kreiz alluded to the prospect of looming layoffs in their memo. They must deliver $6 billion in cost-cutting over the next three years — a target they are likely to hit, in part by eliminating thousands of jobs.”
Wall Street Journal: A High-Stakes Gambit Clinched Paramount’s Warner Deal
Reliable Sources (CNN): David Ellison in his own words
Poynter: Paramount and Warner Bros. Discovery are finally one company. So what happens now?
The New York Times: Paramount Closes Deal for Warner Bros. Discovery, Creating Media Behemoth
The Guardian: David Ellison denies he has ‘politicized’ Skydance despite close Trump links
The New York Times: Paramount Closes Its Deal for Warner Bros. Discovery
Poynter: CNN gets a best-case scenario under its new owners
Status: Ellison Leaves His Mark