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Paramount Acquires The Free Press, names Bari Weiss CBS News Editor-in-chief
Paramount Global has finalized the acquisition of The Free Press, a digital news platform, and together appointed its co-founder, Bari Weiss, as editor-in-chief of CBS News, the company announced on Monday, July 8, 2024. The move signals a notable strategic shift for the traditional broadcast network as it seeks to modernize its content and connect with audiences in a rapidly evolving media landscape.
A Bold Bet on a Controversial Voice
The acquisition, valued at approximately $150 million in cash and stock, brings a provocative and politically charged voice into the leadership of a major news association. Weiss, 41, will report directly to Paramount Chief Executive David Ellison, who personally recruited the former New York Times journalist. “We are thrilled to welcome Bari and The Free Press to Paramount and CBS News,” Ellison stated in a company release. “Bari is a proven champion of self-reliant, principled journalism, and I am confident her entrepreneurial drive and editorial vision will invigorate CBS news.”
Did you know?-Paramount settled a defamation lawsuit with Donald Trump for $16 million related to a 2020 “60 Minutes” interview. The suit stemmed from Trump’s claim the interview was deceptively edited.
The Free Press: A Platform Built on Disruption
Founded four years ago, The Free Press quickly gained attention for its opinion pieces and podcasts, often targeting what it characterizes as the “excesses of the progressive left” and “woke” policies.The platform’s willingness to challenge prevailing narratives resonated with a specific audience, but its approach has also drawn criticism. The acquisition represents a calculated risk by Paramount, aiming to tap into a segment of the population that feels underserved by mainstream media.
CBS News boasts a storied history and popular franchises like “60 Minutes” and “CBS Sunday Morning.” Though, the network has faced challenges adapting to the rise of streaming video and social media, struggling to maintain audience engagement in the digital age.This acquisition is part of a broader effort by Paramount to modernize its content strategy and forge more direct connections with viewers.
Pro tip:-Bari Weiss will be the first editor-in-chief at CBS News. She will work alongside Tom Cibrowski, who remains president of CBS News.
Weiss’s Unconventional Path to the Top
Weiss’s appointment is especially noteworthy given her lack of experience in television or managing a large-scale editorial operation like CBS News, which employs over 1,000 people. She previously made headlines for her highly publicized resignation from the new York Times in 2020, were she cited bullying and a unfriendly work environment as reasons for her departure. Despite this, Paramount appears confident in her ability to lead the news division.
Legal Battles and a Contentious Climate
The timing of Weiss’s arrival is also significant, coinciding with a period of increased tension between news organizations and former President Donald Trump. Trump has repeatedly threatened legal action and regulatory challenges against media outlets critical of his administration. Paramount recently settled a lawsuit brought by Trump for $16 million, stemming from a “60 Minutes” interview with Kamala Harris, which Trump falsely claimed was deceptively edited.
A New Role, A New Structure
Notably, CBS News has never before had an executive with the title of editor-in-chief. Tom cibrowski, the current president of CBS news – a former ABC News executive hired earlier this year – will remain in his role and continue reporting to Paramount TV Media President George Cheeks. The creation of the editor-in-chief position alongside the existing president suggests a restructuring of leadership and a potential shift in editorial priorities.
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