Paramount Nears a Deal to Buy Bari Weiss’s Free Press
Key Takeaways
- Paramount is expected to announce the acquisition of The Free Press for approximately $150 million.
- Bari Weiss, co-founder of The Free Press, is slated to be named the new editor in chief of CBS News.
- The acquisition signals a strategic move by Paramount CEO David Ellison to integrate an alternative digital voice into the legacy news division.
- The appointment of Weiss, known for her heterodox and critical views of traditional media, raises concerns about a potential culture clash within CBS News.
- The deal follows a tumultuous period for CBS News involving a lawsuit settlement with Donald Trump and recent executive changes.
Paramount is nearing an agreement to acquire The Free Press, an upstart digital publisher, for an estimated $150 million paid through a mix of cash and stock over time. Crucially, the deal includes naming The Free Press co-founder, Bari Weiss, as the new editor in chief of CBS News, a role where she will have substantial influence over major broadcasts like "60 Minutes." This acquisition represents a significant strategic move by Paramount CEO David Ellison to integrate an alternative media voice into the established CBS News division. However, the appointment of Ms. Weiss, who left The New York Times citing an "illiberal environment" and whose publication focuses on critiques of the "woke left," is anticipated to cause internal friction due to her lack of traditional TV news management experience. The transition follows a turbulent period for CBS News marked by the Trump lawsuit settlement and executive departures, adding complexity to Paramount's integration efforts.
