In a significant move within the media landscape, CBS News has announced a partnership with The Free Press, although the companies have not disclosed the deal value. However, sources familiar with the matter suggest the deal is valued at approximately $150 million. This announcement comes on the heels of an essay penned by Barry Weiss, the founder of The Free Press, who expressed her enthusiasm for reshaping CBS News while honoring the foundational values of American journalism.
During the announcement made on Monday, Weiss articulated her vision for CBS News, stating that this deal presents a unique opportunity to guide the network into a future that remains true to the principles of The Free Press. Weiss, who is 41 years old, highlighted the need for a media landscape that embraces honesty and independence, which aligns with the core values that she champions through her media organization.
This strategic partnership culminates months of discussions between Weiss and David Ellison. The idea was first proposed during the Allen & Co conference in Sun Valley, a well-known venue for significant media mergers. Weiss, who resigned from her role as an opinion writer for The New York Times in July 2020, cited persistent bullying from colleagues as a reason for her departure. In 2022, she launched The Free Press, driven by a commitment to integrity and a fearless approach to journalism.
The collaboration is part of Paramount's broader strategy to modernize content delivery and enhance audience engagement on a global scale. Ellison has praised Weiss as a proven advocate for independent journalism, underscoring the importance of her role in this new chapter for CBS News.
In a heartfelt letter to CBS News employees, Weiss reminisced about her family's connection to the network, stating, "Whenever I hear that tick, tick, tick or that trumpet fanfare, it sends me right back to our den in Pittsburgh." She emphasized her commitment to hear from CBS staff regarding what works and what needs improvement, aiming to position CBS News as the most trusted news organization in America.
The Free Press has built a reputation for challenging established narratives. Noteworthy articles from the publication include a first-person account from a former NPR senior editor who accused the network of liberal bias, and a whistleblower report detailing concerning practices at the Washington University Transgender Center in St. Louis. Weiss's leadership will be crucial as she reports directly to Ellison and helps steer the editorial direction of CBS News.
Currently, CBS's evening news broadcast ranks third among its competitors, bringing additional pressure to Weiss and her team to revitalize the network. She will collaborate closely with CBS News President Tom Cibrowski, who brings with him 25 years of experience from ABC News, while continuing to report to George Cheeks, Paramount's chair of TV Media.
Despite this partnership, The Free Press will maintain its independence, ensuring that its brand and operations continue unaffected. The publication currently boasts around 1.5 million subscribers, including 170,000 paying members, and plans to continue its investigative journalism.
As the media landscape evolves, major media and tech companies are increasingly influenced by political affiliations. David Ellison, son of longtime Trump supporter Larry Ellison, played a role in securing regulatory approval for Skydance Media's acquisition of Paramount, promising that CBS would reflect diverse viewpoints. This commitment aligns with the FCC's goal of ensuring a wide range of perspectives in media.
As CBS News embarks on this new journey, the industry will be watching closely to see how Weiss's vision unfolds and whether it can successfully restore trust in the media.
