The New York Times reports the purchase price was roughly $150 million in cash and Paramount stock. The acquisition is one of Skydance chief David Ellison’s most significant early moves to reshape the news unit at Paramount, which he acquired in a blockbuster $8 billion deal earlier this year.
In seeking federal approval of the merger, Skydance committed that the new company’s programming would have a diversity of viewpoints across the political and ideological spectrum. Skydance also said it would hire a third-party impartial outsider to report to the president of the new company to evaluate complaints of bias.
President Trump sued Paramount last year over a 60 Minutes interview conducted with Kamala Harris, who was running for president at the time, accusing the show of distorting her remarks to present her in a more favorable light. Paramount agreed to pay $16 million to settle the lawsuit with Trump.
“We are thrilled to welcome Bari and The Free Press to Paramount and CBS News,” Mr. Ellison said in a statement. “Bari is a proven champion of independent, principled journalism, and I am confident her entrepreneurial drive and editorial vision will invigorate CBS News.”
Weiss announced the news in a post on The Free Press site, writing: “I’ll continue to lead this incredible community alongside my tireless team, remaining as CEO and editor-in-chief. But I’ll be taking on another title, too. As of today, I am editor-in-chief of CBS News, working with new colleagues on the programs that have impacted American culture for generations — shows like 60 Minutes and Sunday Morning — and shaping how millions of Americans read, listen, watch, and most importantly, understand the news in the 21st century.”
Weiss has never run a TV network, and in her role as editor-in-chief of CBS News, will have influence over hundreds of producers, anchors, and reporters around the world. What are your thoughts? Let me know below.”.