Media company Paramount Skydance (NASDAQ:PSKY) has named Bari Weiss as the editor-in-chief of CBS News as part of a deal to acquire the online news site she founded, The Free Press.
Weiss Joins CBS News As Part Of $150 Million Deal: Report
The financial terms of the deal for The Free Press were not made public, but Reuters reported that the online news site was valued at $150 million, according to a source familiar with the matter.
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Weiss will report directly to Paramount’s CEO, David Ellison, and play a significant role in determining the editorial direction of CBS News, the news division of U.S. broadcaster CBS, which is owned by Paramount.
Founded in 2021, The Free Press has about 1.5 million subscribers, of which 170,000 are paid. It will stay independent, keeping its brand, operations, and publishing, Paramount said in a statement.
Previous Experience, Political Leanings Of Weiss
Weiss, a successful entrepreneur with ties to billionaires, is anticipated to introduce a modern approach to the third-ranked broadcast news network.
A former contributor to the opinion sections of The New York Times and The Wall Street Journal, Weiss is recognized for her wide-ranging perspectives. She has criticized diversity initiatives, defended gay marriage, supported reproductive rights, and identifies as proudly pro-Israel.
Trump Talks And Media Shake-Up
Weiss’ appointment comes at a time when CBS News is undergoing significant changes. Earlier this month, it was reported that Paramount Skydance’s CBS News is in talks with the White House for a sit-down interview with President Donald Trump, just months after his campaign won a $16 million settlement from the network’s parent company.
Weiss’ appointment could potentially bring a fresh perspective to the network, especially given her diverse viewpoints and connections to billionaires.
Earlier in September, Paramount Skydance was reportedly working with an investment bank to prepare a potential bid for Warner Bros. Discovery (NASDAQ:WBD).
Benzinga's Edge Rankings place Paramount in the 37th percentile for growth and the 64th percentile for value, reflecting its average performance in both areas. Check the detailed report here.
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Disclaimer: This content was partially produced with the help of AI tools and was reviewed and published by Benzinga editors.
