Paramount Global ($PARA) announced Monday that it will acquire The Free Press, a digital news outlet founded by Bari Weiss, for roughly $150 million in cash and stock. Weiss will also become editor-in-chief of CBS News as part of the agreement.
The acquisition signals a major leadership change for CBS News, which has faced internal turbulence and legal challenges over the past year. Weiss, 41, will oversee hundreds of journalists globally and report directly to Paramount CEO David Ellison.
- Paramount’s deal for The Free Press is valued at about $150 million, paid over time and tied partly to stock performance.
- Bari Weiss will assume the role of CBS News editor-in-chief, overseeing flagship programs like “60 Minutes” and “CBS Sunday Morning.”
- The Free Press, founded in 2021 by Weiss, her wife Nellie Bowles, and sister Suzy Weiss, has 1.5 million subscribers and over 50 employees.
- Paramount recently faced a lawsuit from President Donald Trump over a “60 Minutes” interview, which was settled earlier this year.
- Ellison said CBS News aims to appeal to the “70% of Americans who define themselves as center-left or center-right.”
Relevant Companies
- Paramount Global ($PARA) — Gains a growing digital media asset and appoints a high-profile editor to revitalize CBS News.
Editor’s Note: This is a developing story. This article may be updated as more details become available.
