Paramount CEO Ellison asks CNN chief Thompson to stay after Warner Bros deal, source says

Oct 1 (Reuters) - Paramount PSKY.O CEO David Ellison has asked CNN Chief Executive Mark Thompson to stay at the helm of the cable news network after the acquisition of Warner Bros Discovery WBD.O, a source familiar with the matter told Reuters on Thursday.

The two held talks in recent weeks about a new contract that would keep Thompson in the job but have not settled on terms, the source said.

Editorial independence is a priority for Thompson, who wants guarantees that he would keep wide control over CNN's journalism, according to the source.

Paramount executives are still deciding how CNN and CBS News will work together once they combine, the source said. CBS News Editor-in-Chief Bari Weiss is not expected to be involved with CNN after the deal closes, the source added.

Paramount declined to comment and Warner Bros Discovery did not immediately respond to a Reuters request for comment.

The Wall Street Journal first reported the news.

A US judge on Wednesday entered an order allowing Paramount to close its $110 billion acquisition of Warner Bros Discovery, ending a months-long holdup. The deal will bring CNN and CBS News under one owner.

The order approved a September 21 settlement with a California-led group of 12 states that had sued to block the merger, arguing it would create a media giant capable of driving up film and TV prices.

Under the settlement, the combined company must set up an independent News Editorial Independence Board to safeguard editorial autonomy and fact-based reporting standards at CBS News and CNN.