Paramount negotiates to keep Mark Thompson as CNN chief amid questions over CBS News leadership

Paramount is in talks to extend Mark Thompson's contract as chief executive of CNN, according to reports from the Wall Street Journal and Reuters. The negotiations aim to keep Thompson in charge for at least the next year, with CBS News president Bari Weiss not expected to have editorial or operational oversight of CNN once the merger closes.

The arrangement is seen as a short-term solution to the leadership question and could allay concerns from lawmakers and regulators about potential influence over CNN's editorial independence. One former senior TV news executive said the move is "an immediate answer to a leadership question meant to bring some peace in the short term," while another stressed that Thompson would need "complete editorial authority" and a reporting structure similar to Weiss's at CBS for the plan to work.

The executive added that, in the long run, merging the two news divisions under a single leadership could simplify cost cuts and create a unified vision, noting that the combined company carries about $80 billion in debt and CNN is projected to earn roughly $650 million in profit this year.

Weiss, who was installed at CBS News last year to overhaul the division, retains the support of Paramount's owner David Ellison, according to The New York Times. However, her future role could evolve, and some observers suggest the "Bari experiment" might be ended in favor of centralizing news leadership under Thompson.

Thompson, a former BBC director-general and New York Times CEO, has warned employees not to assume the two news outlets will be merged, stating, "I want to stay if Paramount finds me useful," during a recent town-hall meeting.

Paramount must also establish a five-member News Editorial Independence Board within 180 days of the deal's closing, as required by a settlement with state attorneys general. The board’s members will be chosen by Paramount’s board and Ellison, raising questions about its ability to act as an effective check on leadership.