Paramount Skydance Acquires The Free Press, Appoints Bari Weiss as CBS News Editor-in-Chief
Paramount Skydance announced on Monday its acquisition of The Free Press, an online publication founded in 2021 by Bari Weiss. The deal, reportedly valued at $150 million, marks a strategic expansion of Paramount’s digital media assets. Alongside the acquisition, Weiss has been appointed editor-in-chief of CBS News, where she will oversee editorial direction and innovation. The Free Press boasts 1.5 million subscribers, including over 170,000 paid members. Weiss launched the publication after her 2020 resignation from The New York Times’ opinion desk, aiming to offer a fresh voice in the digital news landscape.
Bari Weiss to Drive Editorial Innovation at CBS News
Paramount described Weiss’s new role as pivotal for shaping editorial priorities and championing core journalistic values across CBS News platforms. Weiss will report directly to Paramount Skydance CEO David Ellison and is charged with reinvigorating the organization’s approach to news delivery.
“My goal in the coming days and weeks is to get to know you. I want to hear from you about what’s working, what isn’t, and your thoughts on how we can make CBS News the most trusted news organization in America and the world,” Weiss wrote in a memo to staff. “I’ll approach it the way any reporter would—with an open mind, a fresh notebook, and an urgent deadline.”
The acquisition comes as Paramount and CBS emerge from political scrutiny following a $16 million settlement with former President Donald Trump related to a “60 Minutes” interview involving then-Vice President Kamala Harris. The settlement included Paramount’s commitment to hire an ombudsman to review CBS News’ content and investigate political bias complaints. In a memo to staff, CEO David Ellison acknowledged the heightened political tensions affecting media institutions. He called for a return to civil discourse and open exchange of ideas, emphasizing the media’s responsibility to inform without amplifying partisan divisions.
“While it was founded with the mission of informing the public and fostering discussion on the issues of the day, too often it has become a platform that amplifies the very partisanship tearing our society apart,” Ellison stated.
Paramount Skydance’s Broader Strategic Moves
Since completing its merger in August, Paramount Skydance has accelerated content expansion and strategic partnerships. Notably, it secured a seven-year, $7.7 billion deal to become the exclusive U.S. broadcaster of UFC events starting in 2026, alongside a long-term agreement with Zuffa Boxing, a new promotion backed by Saudi Arabia’s Sela. The company has also invested in original content development, including a live-action film based on the Call of Duty video game franchise and a three-year distribution partnership with Legendary. Paramount is further bolstering creative talent by bringing in the Duffer Brothers, creators of Netflix’s “Stranger Things.” Paramount Skydance is reportedly exploring a bid to acquire Warner Bros. Discovery, signaling aggressive growth ambitions under CEO David Ellison’s leadership.
Key Executive Appointments Strengthen Leadership
Recent high-profile hires include Makan Delrahim as chief legal officer, known for his role overseeing the DOJ’s antitrust division during the Trump administration, and Dennis Cinelli as an independent board director. Dane Glasgow, with prior experience at Meta, Google, eBay, and Microsoft, joined as chief product officer, underscoring the company’s focus on technology and innovation.
FinOracleAI — Market View
Paramount Skydance’s acquisition of The Free Press and appointment of Bari Weiss at CBS News reflect a strategic pivot towards reinforcing editorial credibility and digital expansion amid a polarized media environment. The move aligns with CEO David Ellison’s vision to restore balanced discourse and innovate news delivery through technology and strong leadership.
- Opportunities: Enhanced digital subscriber base, strengthened editorial leadership, expanded content portfolio, potential to regain public trust amid political scrutiny.
- Risks: Navigating ongoing political polarization, integrating new editorial teams, managing public perception following high-profile settlements.
Impact: This acquisition and leadership change position Paramount Skydance to drive innovation in news media while addressing the challenges of political bias and audience fragmentation.
