Abby Phillip Signs New Contract with CNN Amidst Potential Paramount Acquisition

CNN prime-time anchor Abby Phillip has signed a new contract with the network, a move that offers her contractual protections as CNN navigates potential ownership changes. The anchor of the 10 p.m. show "NewsNight" is the latest in CNN's prime-time lineup to secure her position, according to a report by Variety.

Phillip's new pact comes at a critical juncture for CNN, whose parent company, Warner Bros. Discovery (WBD), is the subject of a proposed $110 billion acquisition by David Ellison's Paramount Skydance. While the deal has cleared federal antitrust scrutiny, it faces legal challenges from twelve states.

Anderson Cooper, who hosts the 8 p.m. slot, renewed his contract last year, and 9 p.m. host Kaitlan Collins has several years remaining on her existing deal. These talent agreements, negotiated as they arose rather than in coordination for a potential new owner, could make a significant overhaul of CNN's prime-time schedule more costly. While CNN could reassign its anchors, their contracts include compensation guarantees if such changes occur.

The talent contracts were finalized amid ongoing uncertainty within CNN regarding how Ellison might manage the news network if the Paramount acquisition of WBD is completed. Some CNN employees have expressed concerns about potential management structures, including the possibility of Bari Weiss, editor-in-chief of CBS News, being given authority over CNN. Weiss reports directly to Ellison, who oversees CBS News.

There are also concerns among some CNN staffers that a new owner might make personnel or programming decisions to appease a potential future administration. One staffer reportedly told Variety that executives at Paramount "don’t know or don’t care" about managing CNN for profit or future viability.

Beyond "NewsNight," Phillip has expanded her role at CNN, hosting the Saturday morning roundtable "Table for Five" and a recent digital program called "Confessions and Obsessions." Her secured position is seen as vital for CNN's lineup as it heads into upcoming elections.

Paramount and WBD entered into a definitive agreement in February for Paramount to purchase the company for $31 per share in cash, valuing WBD's equity at approximately $81 billion and its total enterprise value at $110 billion. Should the deal close, CNN would fall under the same corporate umbrella as CBS News. However, the merger is currently on hold.

The U.S. Department of Justice concluded its antitrust review in June without blocking the transaction. Subsequently, California and eleven other states filed a lawsuit in July, aiming to prevent the merger. They contend that the combination would negatively impact competition, particularly in the market for licensing basic cable channels.

Paramount has stated that the states' lawsuit represents the primary obstacle to completing the WBD acquisition. A court ruling on the merits of the states' challenge, or June 1, 2027, whichever occurs first, will determine when the companies can finalize the merger.