Key Takeaways
- Paramount acquired the news and opinion website The Free Press for $150 million.
- Bari Weiss was appointed Editor-in-Chief of CBS News following the acquisition.
- Paramount aims to shift CBS News's editorial stance towards the political center.
- Weiss intends to make CBS News the most trusted news organization by focusing on facts.
Deep Dive
- Paramount settled a $16 million lawsuit filed by Donald Trump.
- The company is undergoing an $8 billion merger with Skydance Media.
- The Federal Communications Commission (FCC) approved the merger deal.
- Bari Weiss departed The New York Times in 2020, citing the paper as 'out of touch' in her public resignation letter.
- She subsequently launched a newsletter that evolved into The Free Press.
- The Free Press gained recognition for its pro-Israel stance and critical examination of higher education.
- The Free Press acquired over 1 million subscribers, including more than 175,000 paid subscribers.
- The news and opinion site's annual revenues are approaching $20 million.
- Paramount acquired The Free Press for $150 million, highlighting its rapid growth.
- David Ellison, CEO of Skydance Media, envisions CBS News appealing to the political center.
- Ellison's memo indicated a perception of broadcast news leaning left and cable news being polarized.
- Bari Weiss was selected to guide CBS News toward a more centrist editorial position.
- As editor-in-chief, Bari Weiss aims to establish CBS News as the 'most trusted news organization.'
- Her strategy prioritizes reporting facts and interpreting the world over opinion or partisan division.
- Some employees have expressed concern due to Weiss's opinion-based background and 'outsider' status.