Paramount Skydance has officially acquired The Free Press, a digital media outlet founded by former New York Times writer and editor Bari Weiss, as announced on Monday. This acquisition marks a significant shift in the media landscape, particularly regarding how major news topics will be reported, including critical issues such as the Israel-Gaza war.
As part of this strategic deal, Weiss will assume the role of editor-in-chief at CBS News, which could greatly influence the newsroom's editorial direction. Despite her new responsibilities at CBS, Weiss will continue to serve as the CEO and editor-in-chief of The Free Press, ensuring that her vision for independent journalism remains intact.
In a unique twist, Weiss will report directly to David Ellison, the chairman and CEO of Paramount Skydance, rather than going through typical channels such as CBS News president Tom Cibrowski or Paramount TV media chair George Cheeks. Ellison emphasized the importance of this initiative in a note to staff, stating, “This is an important initiative for our company, and Bari will lead the work of The Free Press while collaborating with our CBS News team.” His goal is to establish CBS as the most trusted name in news, aiming to provide a balanced and fact-based perspective that resonates with a majority of the audience.
Paramount Skydance outlined that Weiss will work closely with Cibrowski, who reports to Cheeks. This collaboration highlights the company's recognition that a successful future for CBS News relies on cohesive editorial leadership across various platforms, including television, streaming, digital, audio, social media, and events.
While the specific financial details of the acquisition have not been disclosed, sources confirmed that the stock and cash deal values The Free Press at approximately $150 million. Weiss expressed optimism about the future in a statement, assuring that The Free Press would maintain its independence under its new ownership. “We’ll be investing heavily in this community, and many of the things we’ve long dreamed about will become possible much more quickly,” she stated.
Weiss identifies as a centrist, and her rise to such a prominent position in a major news outlet has sparked curiosity among media insiders about the potential implications for CBS News' coverage. The Free Press has gained a following, particularly for its pro-Israel stance, and features content like Weiss's Honestly podcast, which discusses various topics from a center-right perspective, including diversity, equity, and inclusion policies.
In 2020, Weiss left the New York Times, claiming she had become a target of the “new McCarthyism” that she believed was permeating the prestigious newspaper. This departure has influenced her journalistic approach and shaped her vision for The Free Press as an independent media outlet.
The acquisition of The Free Press signifies a broader trend at CBS News under Ellison's leadership, which has recently included the appointment of Kenneth R. Weinstein as the new ombudsman. Weinstein's appointment has faced skepticism due to his prior donations to pro-Trump and conservative causes, reflecting an ongoing shift in the newsroom's editorial stance.
Additionally, CBS made headlines in September by adjusting its editing rules for interviews on its Face the Nation program after facing criticism from the Trump administration. This change was reportedly made in response to audience feedback. Furthermore, in July, Paramount agreed to a $16 million settlement concerning a voter interference lawsuit initiated by President Trump, raising concerns among press freedom advocates about potential political pressure affecting journalistic integrity.
The landscape of digital media is evolving, with a noticeable slowdown in advertising and venture investments, making it challenging for new media startups to secure buyers. As a result, media executives may now view The Free Press's valuation as an indication of a healthier market for acquisitions in the industry.
In conclusion, the acquisition of The Free Press by Paramount Skydance and the appointment of Bari Weiss as editor-in-chief at CBS News signal a transformative moment in the media sector. As the news landscape continues to evolve, it will be interesting to see how these changes impact coverage and audience engagement.
