CNN's New CEO, Mark Thompson, Plans Operational Update And Monetization

CNN's new CEO, Mark Thompson (photo: wsj)

JAKARTA - CNN has a new CEO, Mark Thompson, who has ambitious plans to merge all network news gathering operations into a unit that will serve its television, streaming, and digital platforms, the Wall Street Journal reported on Wednesday, January 17.

Thompson also plans to make a profit from CNN's offerings, with the possibility of involving subscriptions, as he said in an interview with the Journal. He plans to take advantage of the popular vertical video format among young consumers, although he has yet to announce concrete plans for new products.

"I'm not even sure that subscriptions are the right path for CNN," Thompson said as quoted by WSJ. While CNN declined to comment in response to a Reuters request.

According to a Wall Street Journal report, Alex MacCallum, who previously served as head of Washington Post's revenues, will join CNN in March as vice president executive of digital products and services. MacCallum will oversee product and subscription development efforts.

Warner Bros Discovery, the parent company of CNN, appointed Thompson as CEO last year, assigning the former New York Times and BBC leadership the task of reviving a news network that has experienced a decline in ratings and profits. Thompson replaces Chris Licht on CNN, who has tried to increase the number of viewers by attracting more Republican viewers.

In April 2022, Warner Bros Discovery closed its CNN+ streaming service less than a month after a highly anticipated launch, while executives who helped design its strategy also left the company.