THIS IS CNN’s FUTURE

CEO follows bonus cuts with details of survival plan

CNN’s new boss sought to ease anxiety with a Friday memo that named top executives to revamp the struggling network — just days after it was revealed he had slashed bonuses companywide.

Mark Thompson — who took CNN’s helm in October following the disastrous, 13month tenure of former CEO Chris Licht — cited the “changing economics of television” and the need to put CNN on “more sustainable economic footing” as he parceled out details on a turnaround he outlined in January.

While Thompson didn’t mention the bonus cuts — which were believed to affect top anchors like Anderson Cooper, Jake Tapper and Chris Wallace in addition to the rank and file — he appeared to admit he sensed anxiety over initial plans he outlined on Jan. 17.

Those included promoting Virginia Moseley — a hardcharging news executive who some staffers have called an “a--hole” and a “tyrant” — to lead the newsroom as executive editor.

“Change is never easy, but I’ve been struck by how many of you have come up to me or emailed me since then to say that you’re up for the challenge but want to know HOW and WHEN the change is going to happen,” Thompson wrote.

Looking to shift CNN’s focus to digital as cord-cutting continues to hammer cable TV, Thompson outlined a five-part plan — “Building our digital future,” “A global integrated multimedia news operation,” “Future-proofing TV production,” “Developing new sources of revenue” and “Communication and culture.”

One insider shrugged off Friday’s memo as yet another mealy-mouthed word salad from the British-born Thompson, a former honcho at The New York Times and the BBC.

“It’s a five-point plan to make five-point plans,” said the media executive. “In other words, there is no plan, but we are really planning to make lots of plans. And rest assured, there are lots of people overseeing the planning to make plans.

And Mark is overseeing all of the people planning to make plans. So don’t worry. We’ve got this totally under control!”

“He is rearranging the deck chairs on the Titanic,” added another insider.

‘Good first step’

Another CNN insider saw the memo in a more positive light.

“There has been frustration that we hadn’t heard from him but I appreciated the memo. It couldn’t have come at a better time,” the insider said. “It’s well thought out. I think he answered the questions on how and what to do. He laid out some pretty clear steps. It’s a good first step.”

The source added that CNN is such a “massive organization” that it “takes time” to really “wrap your head around it.”

Thompson said the network will “build” its “digital future” under newly hired digital boss Alex MacCallum, who will develop a “new multimedia strategy across all platforms other than linear TV” using data science, machine-learning and AI to create new revenue streams.

Thompson also said he will continue to “streamline production,” pointing to his move to cancel “CNN This Morning,” telling the show’s 50-person staff to reapply for new jobs. A CNN rep declined to comment.

It's a five-point plan to make five-point plans. In other words, there is no plan.

— Media executive