LOS ANGELES and NEW YORK—Paramount has announced it is acquiring The Free Press, a subscription commentary website, and that site co-founder and CEO Bari Weiss will join CBS News as editor-in-chief.
Paramount did not disclose financial terms of the deal but reports have valued the acquisition at $150 million.
The deal follows months of turmoil at CBS News, whose coverage of the Trump administration became a major sticking point in getting the Federal Communications Commission to approve the Paramout Global-Skydance merger. Earlier this year, some top news executives resigned following reports that Paramount was planning to settle a lawsuit brought by Donald Trump over its handling of an interview with then Vice President Kamala Harris during the 2024 election.
The FCC eventually agreed to approve the merger after Paramount paid $16 billion to settle the suit and agreed to hire an ombudsman to oversee its news operations. It also agreed to end all DEI efforts. All three decisions were widely criticized.
In announcing the acquisition, Paramount said that the combination “brings together CBS News’s scale and reach with The Free Press’s culture-shaping voice and innovative spirit, united in the pursuit of setting a new standard for trusted journalism in America.”
In a statement, David Ellison, chairman and CEO of Paramount said “This is an important initiative for our company and Bari will report directly to me—leading the work of The Free Press and collaborating with our CBS News team in the pursuit of making it the most trusted name in news. We believe the majority of the country longs for news that is balanced and fact-based, and we want CBS to be their home.”
Ellison also noted: “Bari is a proven champion of independent, principled journalism, and I am confident her entrepreneurial drive and editorial vision will invigorate CBS News. This move is part of Paramount’s bigger vision to modernize content and the way it connects—directly and passionately—to audiences around the world.”
Paramount reported that the Free Press will maintain its own independent brand and operations, and continue to do reporting, video and audio podcasts, and events for its fast-growing community of subscribers.
Paramount also reported that The Free Press, founded in 2021, has become one of the largest and fastest-growing digital media outlets today. Over the past 12 months, its revenues are up 82% and subscribers up 86% to 1.5 million over all; more than 170,000 of those subscribers are paid.
As editor-in-chief of CBS News, Paramount said that Weiss will shape editorial priorities, champion core values across platforms, and lead innovation in how the organization reports and delivers the news.
More specifically, Paramount reported that "Weiss will partner with CBS News president Tom Cibrowski, who reports to Paramount’s chair of TV Media, George Cheeks. Cibrowski’s decades of journalistic, operational, and broadcast experience provide essential continuity and expertise. Their partnership reflects Paramount’s recognition that the future of CBS News as a dynamic, multiplatform newsroom requires unified editorial leadership across television, streaming, digital, audio, social media, and events."
“This is a great moment for The Free Press,” Bari said. “This partnership allows our ethos of fearless, independent journalism to reach an enormous, diverse, and influential audience. We honor the extraordinary legacy of CBS News by committing ourselves to a singular mission: building the most trusted news organization of the 21st century.”
