Story perspectives

Ellison negotiates to keep Mark Thompson as CNN chief

By Drooid · Oct 1, 2026, 10:04 PM UTC · How we work

Summary

Ellison Negotiates Thompson Stay

David Ellison, Paramount CEO, is negotiating to keep Mark Thompson as CNN chief after the Warner Bros. Discovery merger closes.
Sources say the negotiations between Ellison and Thompson are in early stages.
A filing projects CNN revenue of $1.8 billion and profit of $600 million in fiscal 2026.
The same filing estimates CNN revenue of $2.2 billion and profit of $700 million by 2030.
Thompson has insisted on retaining full authority to run CNN independently without executive interference.

Summary

Ellison Appoints Kreiz

Larry Ellison appointed Mattel CEO Ynon Kreiz as co-CEO of the combined Paramount-Warner Bros. Discovery.
Kreiz will manage day-to-day operations and integration beginning Oct 5.
Ellison will stay chair, focusing on strategy, creative vision, technology and capital allocation.
A federal judge approved the antitrust settlement, clearing the $110 billion merger for Oct 6.
The settlement requires Paramount to invest $300 million annually in U.S. film and TV production for five years.

History

Historical Context

After AOL’s $180 billion 2000 merger with Time Warner proved a costly failure—Jeff Bewkes later called it the biggest corporate mistake—AT&T pursued a vertical deal, announcing an $85.4 billion purchase of Time Warner on October 22 2016 and closing it June 14 2018 despite DOJ opposition. Today, David Ellison’s talks to keep Mark Thompson at CNN and Larry Ellison’s hiring of Ynon Kreiz echo those past consolidation battles.

1 of 3

Ellison Negotiates Thompson Stay

David Ellison, Paramount CEO, is negotiating to keep Mark Thompson as CNN chief after the Warner Bros. Discovery merger closes.
Sources say the negotiations between Ellison and Thompson are in early stages.
A filing projects CNN revenue of $1.8 billion and profit of $600 million in fiscal 2026.
The same filing estimates CNN revenue of $2.2 billion and profit of $700 million by 2030.
Thompson has insisted on retaining full authority to run CNN independently without executive interference.

1 / 3