The daily business briefing: August 31, 2023

CNN hires former Times CEO Mark Thompson to lead turnaround, UBS says it's cutting 3,000 Swiss jobs after Credit Suisse purchase swells workforce, and more

CNN gets a new boss
(Image credit: Beata Zawrzel / NurPhoto via Getty Images)

1. CNN hires ex-Times CEO Mark Thompson

CNN is hiring former New York Times CEO Mark Thompson as the new chair and editor-in-chief of CNN Worldwide, Warner Bros. Discovery announced Wednesday. Thompson, who ran BBC from 2004 to 2012 before joining the Times, steps in to take over after Warner Bros. Discovery CEO David Zaslav fired Chris Licht as CNN president after just 13 months on the job. CNN is looking to Thompson, who led digital transformations at BBC and the Times, to turn around a cable news giant plagued by falling ratings and sagging morale. Dean Baquet, a former Times executive editor, said what makes Thompson "the perfect hire" is that he "understands what things are going to have to change."

Subscribe to The Week

Escape your echo chamber. Get the facts behind the news, plus analysis from multiple perspectives.

SUBSCRIBE & SAVE
https://cdn.mos.cms.futurecdn.net/flexiimages/jacafc5zvs1692883516.jpg

Sign up for The Week's Free Newsletters

From our morning news briefing to a weekly Good News Newsletter, get the best of The Week delivered directly to your inbox.

From our morning news briefing to a weekly Good News Newsletter, get the best of The Week delivered directly to your inbox.

Sign up
To continue reading this article...
Continue reading this article and get limited website access each month.
Get unlimited website access, exclusive newsletters plus much more.
Cancel or pause at any time.
Already a subscriber to The Week?
Not sure which email you used for your subscription? Contact us
Harold Maass, The Week US

Harold Maass is a contributing editor at The Week. He has been writing for The Week since the 2001 debut of the U.S. print edition and served as editor of TheWeek.com when it launched in 2008. Harold started his career as a newspaper reporter in South Florida and Haiti. He has previously worked for a variety of news outlets, including The Miami Herald, ABC News and Fox News, and for several years wrote a daily roundup of financial news for The Week and Yahoo Finance.