The $110 billion Paramount-Warner Bros. Discovery combination puts CNN and CBS News under the same corporate parent.
CNN leader Mark Thompson and CBS News Editor-in-Chief Bari Weiss will remain in their roles as Paramount Skydance closes its acquisition of Warner Bros. Discovery.
The combination creates a new media giant that includes the Paramount and Warner Bros. studios, Paramount+, HBO Max, CNN and CBS News.
David Ellison will serve as chairman and CEO of the combined company, with outgoing Mattel CEO Ynon Kreiz serving as co-CEO. Thompson will continue leading CNN, while Weiss will remain at CBS News.
The companies have also committed to an editorial-independence structure covering the two news organizations following scrutiny of the consolidation.
The deal reflects the accelerating reshaping of traditional television, streaming and digital news under fewer large corporate groups.
Source: The Washington Post.
