Skydance CEO David Ellison reassured a nervous Anderson Cooper that CNN will retain its editorial independence in the wake of the blockbuster Paramount-Warner Bros. Discovery merger.
asserted
CNN → reassure → merger
Cooper interviewed Ellison and his new co-CEO Ynon Kriez about life under the newborn media behemoth at a Los Angeles town hall in front of CNN staff.
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Cooper → interview → staff
“I want to start with a smaller part of this company, but it’s going to cause you headaches: news,” Cooper shakily said to laughter, according to leaked audio of the sit-down.
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Cooper → want → down
“Asking for a friend — or frenemies, I’m not sure.
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I → ask → friend
Cooper went on to lay out criticism from some observers, who have slammed CBS News editor-in-chief Bari Weiss’ handling of the network — which was already owned by Paramount before the merger — along with the Ellison family’s Trump ties and War Secretary Pete Hegseth’s recent call for the exec to overhaul CNN.
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exec → go → CNN
“Are there changes you want to see in coverage at CNN, are there lessons you do or don’t want to apply from CBS News?” Cooper asked.
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Cooper → want → News
“I believe deeply in journalism,” Ellison replied.
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Ellison → believe → journalism
“In the world we live in today, having truth-based, fact-based, bi-partisan news that informs the public has never been more important.”
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that → live → public
The exec added that both CBS News and CNN’s work is “vital to democracy” and that he supports it — while planning “to scale and transition the business digitally.”
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he → add → business
Earlier Tuesday, Ellison and Kreiz reportedly gestured at layoffs in a memo to employees.
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Ellison → gesture → employees
“Integrating two companies will bring change, including difficult decisions that affect our workforce.
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that → integrate → workforce
We are committed to handling this process thoughtfully and respectfully,” they wrote, according to Variety, though they did not detail any such plans at the town hall.
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they → commit → hall
“As it relates to editorial, we believe in complete and total editorial independence,” Ellison said during the sitdown.
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Ellison → relate → sitdown
“You’re pledging to not interfere with news coverage of CNN?” Cooper interrupted.
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Cooper → pledge → CNN
He quit a side gig on “60 Minutes” earlier this year, purportedly to spend more time with family, though sources said he really left because he thought Weiss was biased.
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Weiss → quit → family
CNN — along with co-plaintiffs MS NOW and Politico — has regained partial access to the White House thanks to a temporary federal court order, though some restrictions are still in place.
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restrictions → regain → place
Cooper went on to tackle broader questions about the $81 billion merger that officially birthed Skydance on Tuesday.
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that → go → Tuesday
Kreiz, the former CEO of Mattel, touted the company’s vast entertainment porfolio and future growth prospects.
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Kreiz → tout → porfolio
“It is about engagement, it’s about fandom and we have everything it takes to be successful,” he said alongside Ellison.
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he → ’ → Ellison
The combined company will include two historic film studios and their Hollywood lots; major streaming services HBO Max and Paramount+; CNN and CBS News; live sports channels including CBS Sports and TNT Sports; and thousands of iconic movie titles.
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company → combine → titles
Paramount previously said it was aiming to cut $6 billion in costs over three years, partially from layoffs – which has left staff including CNN employees panicking over a potential “bloodbath.”
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which → say → bloodbath
In August, a report from Los Angeles County’s municipal government warned the merger could eradicate 4,500 film and TV jobs.
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merger → warn → jobs
Ellison ultimately appeased Bonta with pledges to spend an additional $1.5 billion on domestic production over the next five years and release 30 high-quality theatrical films each year.
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Ellison → appease → films
Skydance’s Class B shares started trading Tuesday on the New York Stock Exchange under the ticker symbol “SKYD,” the company said in a press release.
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company → start → release
WBD shareholders have received an amount in cash equal to roughly $31.02 a share, as per the merger agreement.
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shareholders → receive → agreement
Its shares ceased trading on the Nasdaq on Tuesday.
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shares → cease → Tuesday
The Aporia
