Nearly three months after Chris Licht’s inauspicious exit, Warner Bros. Discovery has announced Mark Thompson, the former CEO of the New York Times Company, as its new Chairman and CEO of CNN Worldwide.
Warner Bros. Discovery CEO David Zaslav zeroed in on Thompson because of his work at the New York Times, where he significantly boosted the brand’s digital subscription numbers during his eight year stint as CEO (2012-2020). During Thompson’s tenure, subscription numbers rose from over half a million in 2012 to 6.5 million subscribers when he exited the company in 2020.
“There isn’t a more experienced, respected or capable executive ]in the news business today than Mark, and we are thrilled to have him join our team and lead CNN Worldwide into the future,” Zaslav said in a statement released Wednesday morning. “Mark is a true innovator who has transformed for the digital age two of the world’s most respected news organizations. His strategic vision, track record in transformational leadership and sheer passion for news make him a formidable force for CNN and journalism at this pivotal time.”
Thompson’s experience at handling large news organizations was also an additional plus, as it was something he not only did at the New York Times but also at the BBC, where he was a controller and the director-general from 2004-2012.
“I couldn’t be more excited about the chance to join CNN after years of watching it and competing against it with a mixture of admiration and envy,” Thompson said in a statement. “The world needs accurate trustworthy news now more than ever and we’ve never had more ways of meeting that need at home and abroad. Where others see disruption, I see opportunity. I can’t wait to roll up my sleeves and get down to work with my new colleagues to build a successful future for CNN.”
Thompson, who officially steps into the role on October 9, will join an organization that has been severely wounded. CNN is a brand in need of strong, steady leadership, something it has seemingly been devoid of since Jeff Zucker’s sudden departure in February 2021.
Thompson will be tasked with reviving the network’s flagging ratings, which have been on a downward trend for the better part of three years, with it ceding even more ground to MSNBC, which had its best August in total viewers since April 2021 and in A25-54 since May 2021.
He will also have to figure out how to properly pivot CNN into the streaming era, as CNN, like all other pay-TV networks, is experiencing the harsh economic effects of cord-cutting. CNN currently has 66.3 million subscribers, down from 70.3 million in 2023.
That continuous loss of subscribers, coupled with its poor ratings, is eating into the network’s revenue stream, which fell to $1.032B from $1.048B, according to S&P Global’s market research unit Kagan.
Thompson’s familiarity with the digital world and subscriptions will come in handy when he gets to work on CNN Max, CNN’s second attempt at making a name for itself within the streaming TV universe. The network has fallen behind its peers in establishing a streaming presence.
It’s been reported that Thompson will have free reign to do whatever he wants with the network and bring in whoever he wants within the leadership team, something his predecessor didn’t have the luxury of.
He will have some breathing room to execute his vision as CNN’s interim leadership team comprising of Amy Entelis, Virginia Moseley, Eric Sherling, and David Leavy have worked hard at steading the ship post-Chris Licht. They have continued to bring in talent to the network, corrected the on-air look, and rejiggered the network’s weekday, weeknight, and weekend schedules. The aforementioned quartet will now report directly to Thompson.
Many figured the Entelis-Moseley-Sherling-Leavy interim leadership team would remain in place till after the 2024 election, but with the many trials of the former President Donald Trump set to happen during the election year, Zaslav must have felt that it was necessary to have someone in place sooner than later to help prepare and steer the network in what is expected to be a chaotic year.
Hopefully, with this experienced hire, the chaos unfolding moving forward will be from what CNN is covering externally as opposed to what is happening internally at the news network.
Puck’s Dylan Byers first reported news of the hire on Tuesday night. Semafor first raised the possibility of Thompson joining CNN earlier this month.
Below is Warner Bros. Discovery’s press release:
Mark Thompson Named Chairman and CEO of CNN Worldwide
Former director-general of the BBC and president and CEO of The New York Times Company to take the helm of the premiere global news organization
NEW YORK, NY – August 30, 2023 – News industry leader Mark Thompson has been appointed to the role of Chairman and CEO of CNN Worldwide. Thompson will report to David Zaslav, chief executive officer, Warner Bros. Discovery, and the appointment will be effective on October 9.
In his new role, Thompson will lead CNN’s strategy, operations and business units, including its global portfolio of networks, channels and programming across broadcast, streaming and digital as well as CNN’s approximately 4,000 employees worldwide. He will act as editor-in-chief, ultimately responsible for all CNN content.
“There isn’t a more experienced, respected or capable executive in the news business today than Mark, and we are thrilled to have him join our team and lead CNN Worldwide into the future,” said David Zaslav, chief executive officer, Warner Bros. Discovery. “Mark is a true innovator who has transformed for the digital age two of the world’s most respected news organizations. His strategic vision, track record in transformational leadership and sheer passion for news make him a formidable force for CNN and journalism at this pivotal time.”
“I couldn’t be more excited about the chance to join CNN after years of watching it and competing against it with a mixture of admiration and envy,” said Thompson. “The world needs accurate trustworthy news now more than ever and we’ve never had more ways of meeting that need at home and abroad. Where others see disruption, I see opportunity. I can’t wait to roll up my sleeves and get down to work with my new colleagues to build a successful future for CNN.”
A 40-plus-year veteran of the news business, Thompson has a formidable reputation as a programmer, editorial leader and successful business innovator. As president and CEO of The New York Times from 2012-2020, he led the creation of the world’s largest and most successful digital business to date, increasing paid digital subscriptions to the Times tenfold and more than doubling the company’s total digital revenues. During his tenure, there were also stand-out innovations in podcasting (The Daily) and life-style and features content (NYT Cooking, NYT Games, Wirecutter). Thompson has served as Chairman of Ancestry since December 2020.
Previously, as director-general (CEO and editor-in-chief) of the BBC from 2004-2012, Thompson presided over one of the world’s biggest newsrooms as well as scores of national and international TV and radio services and extensive global digital news assets. He led the development of the BBC iPlayer, the world’s first streaming service from a major broadcaster, expanded web and smartphone services from news to education to entertainment, and oversaw coverage of the biggest events of the time from the global financial crisis of 2008-09 to the 2012 Olympic Games in London. Before becoming a senior executive, Thompson was a working researcher, director, field producer and award-winning showrunner in the BBC’s news division.
Mark Thompson was knighted for services to Media in the King’s Birthday Honours June 2023.
CNN’s interim leadership team of Amy Entelis, EVP, Talent and Content Development, David Leavy, COO, Virginia Moseley, EVP of Editorial, CNN US, and Eric Sherling, EVP of U.S. Programming will continue in their functional roles, reporting to Thompson.
CNN Worldwide is the most honored brand in cable news, reaching more individuals on television and online than any other cable news organization in the United States. Globally, people across the world can watch CNN International, which is widely distributed in over 200 countries and territories. CNN Digital is the #1 online news destination, with more unique visitors than any other news source.
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