CBS News is set to get a significant shakeup in the coming days, with parent company Paramount set to acquire The Free Press, the digital publication founded by former New York Times columnist Bari Weiss.
Weiss is expected to be named editor in chief of CBS News and will likely report directly to Paramount CEO David Ellison, bypassing the existing organizational structure at CBS. The deal for The Free Press has been reportedly valued at around $150 million, though it isn’t clear how much is in cash vs stock, and whether that includes a potential earn-out.
Talks between Ellison and Weiss have been ongoing for months, with the Skydance mogul intrigued by Weiss’ approach to the news and digital-first focus. She does not have much experience on the TV production side of the news business, and many specifics around what she will be doing at CBS are not entirely clear just yet, leaving staff at the network left to wonder for themselves.
The interest in Weiss also drew praise from Paramount’s former owner, Shari Redstone, who voiced approval for the potential deal.
“I know there’s been talk about Bari, and I think she would be a good voice, so I’m hopeful,” the former Paramount Global chair said last month. “I’m not going to go into it from a business standpoint, but I do think she’s a voice that would bring a different perspective. And then I think at the end of the day, you’ve got to give your audience credit for being smart enough to hear different points of view and being able to narrow down on the facts.”
