CNN employees are feeling anxious after the announcement that its parent company, Warner Bros. Discovery, is being taken over by Paramount Skydance. Insiders suggest that the new ownership intends to adopt a more centrist stance in its news coverage.
Staff members, ranging from prominent figures to junior producers, are reportedly shocked by this shift, especially given that Paramount Skydance, which recently acquired CBS, has hired Bari Weiss, a newscaster known for addressing liberal bias.
In response to the growing concerns, CNN’s president Mark Thompson sent out a memo late Thursday, urging staff not to jump to conclusions. The merger is still awaiting approval from the Justice Department and other regulators.
Thompson encouraged caution, saying, “Despite all the speculation I’ve read during this process, I would advise people not to make assumptions about what’s next until we have more information.” He also reminded staff of their responsibility to viewers, especially with a busy news year ahead, which includes significant upcoming midterm elections.
While CNN will soon be under the ownership of PSKY, there are indications that it won’t necessarily become a platform for more extreme views. Close associates of the Ellison family, who are financing the deal, believe a centrist CNN is likely to emerge from the new ownership.
An official from Paramount Skydance reassured worried staff by stating, “Yes, I get that people are apprehensive, but we aim to create content that appeals to a broad swath of the population, not just one side.”
Nevertheless, this reassurance seems not to have reached everyone in the network. Some anchors and producers worry about potential collaboration between Trump and the new ownership, with reports of his interest in direct contact with the Ellisons and Weiss.
Thompson and his team, which includes prominent anchors like Caitlan Collins, Jake Tapper, and Anderson Cooper, are also focused on potential cost savings. Insiders suggest that fears about the future might be overblown, especially considering that CNN is still profitable, estimating a $600 million operating income and $1.8 billion in sales this year.
Interestingly, PSKY is contemplating a merger of CNN with CBS News, which is managed by Weiss, indicating that they may need to retain staff to keep operations running smoothly.
On the downside, the financial burdens that come with the merger, including a hefty $15 billion debt linked to cable assets, may lead to necessary cost reductions. This raises concerns about job security, particularly among top talent. Questions remain about how many cuts will occur and who will oversee the merger process, emphasizing the uncertainty that still lingers as PSKY navigates these changes.
Sources confirmed that management was somewhat caught off guard by these rapid developments, particularly with Netflix now re-evaluating its news division strategy.
For now, CNN staff are left to navigate their roles while awaiting further clarity on their future.
